ozforex anyone used before

[davetrout]

just wondering if this is agood way to go for $500 a month l have to send to thailand for my car there. the cba bank is shit

[rhodie]

Use them often. The more you transfer, the better the rate. $15 per transfer. The rate is better than any of the banks.

Think about opening an account in Thailand. Works out more economical to transfer larger amounts and then pay the car from the local account.

[davetrout]

Use them often. The more you transfer, the better the rate. $15 per transfer. The rate is better than any of the banks.

Think about opening an account in Thailand. Works out more economical to transfer larger amounts and then pay the car from the local account.

cheers rhodie

l know there legit now

[Pib]

When using the Ozforex site to determine exchange rate be sure you don't use the regular currency converter (a.k.a., spot converter) that is predominately displayed otherwise you'll just see the mid-market rates which is the bank/wholesale rate...this will be a high rate that only the big banks/wholesales get and not the common man....it probably fools a lot of people into thinking that's the rate they will get. Instead, you need to use the OzForex "Customer Rates Converter" under the Forex Tools. For all of these money transfer services like OzForex be sure you use the exchange calculator that shows their Customers Rates and not the Spot/Mid-market Rate.

Using that Customer Rates Converter the OzForex AUD/THB rate for 500AUD is only 25.69 compared to the average Thai bank TT Buying Rate of 26.60 at this millisecond in time. For 5000AUD the OzForex rate goes up to 26.26 which is still far below the average Thai bank TT Buying Rate of 26.60.

While OzForex fees may be low compared to some Oz banks, OzForex is still making a nice profit on exchange rate. Their exchange rates are apparently better than some Oz banks when allowing the Oz banks to convert the funds but when compared to the Thai bank TT Buying Rate the OzForex rate is lower. Be sure to consider all fees and the exchange rate in determining which way to send money is the better deal for you...someone may offer low fees but burn you on the exchange rate (or vice versa). Be sure to completely price it out: Sending/Funding Fee + Exchange Rate + Receiving Fee.

OzForex for 500AUD

Thai Bank TT Buying Rate