As more and more sellers expand their e-commerce business internationally, we had to improve our offering in order to provide a good customer experience. Selling internationally shouldn’t slow you down.
With that said, we are very excited to work alongside OFX - a leading provider of global money transfer solutions. Through this partnership, we want to provide faster, smarter, global cashflow at preferential rates. By using Payability and OFX, you will streamline how you collect revenue, manage cashflow and pay your suppliers.
Benefits of using OFX:
- Get local currency accounts in USD, CAD, GBP, EUR, HKD, and AUD (CNY coming soon!)
- Streamline how you collect global revenue and pay global suppliers
- Affordable currency conversion. Preferential rates when you use both Payability Instant Access and a Global Currency Account from OFX.
What is a Global Currency Account from OFX?
For International Sellers selling in the U.S., a Global Currency Account (GCA) allows to receive USD and convert it to your local currency. You can pay your international suppliers in their local currency.
What currencies are supported?
- USD (USA)
- CAD (Canada)
- GBP (U.K.)
- Euro (Europe)
- HKD (Hong Kong)
- AUD (Australia)
- CNY (China) (coming soon)
What does Amazon charge for FX?
Amazon charges sellers between 3-5% to convert funds from USD into their home currency.
What does OFX charge for a Global Currency Account?
There is no fee charged to create an account. The fee for FX is 1% on top of the natural FX rate.
How do I transfer funds from my Payability account to my Global Currency account?
Transfers usually take 24 hours to post to your Global Currency Account.
How do I learn more?
You can read more here: https://www.payability.com/ofx-partner/