# So make the smart move and save on your global money transfers with OFX. *Average savings based on published rates of ANZ, Westpac, NAB and CBA on a single transfer of AUD$10, to USD .
Taking the mystery out of foreign exchange.
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We record all such telephone calls and in the event of any dispute, the transcript of our telephone conversation may be used as evidence as to the terms of the agreement that was entered into. You may only take action to correct any of the Transaction details set out in the Deal Confirmation if the Deal Confirmation does not reflect the transaction details that have already been agreed. You must notify us as soon as the mistake comes to your attention and we will requote the Rate as soon as possible.
We reserve the right to requote the Rate if you do not provide us with requested information or funds on time. After the telephone call, we will send you a document entitled Deal Confirmation. In the event of any dispute, the transcript of our telephone conversation may be used as evidence as to the terms of the agreement that was entered into. We may request an Advance Payment both at the time you book the Forward Contract and at any time prior to the Maturity Date.
The amount of any Advance Payments requested will be a fixed percentage of the value of the Transaction. For further details on the method of calculating Advance Payments, please see clause 6. If you do not do so, we reserve the right to Close Out the Forward Contract in accordance with paragraph 9.
You acknowledge that we may agree to such a request entirely at our discretion. If we agree, you acknowledge that the Rate will be adjusted to account for the timing of the new settlement date. If we have not received the funds within 2 Business Days, we reserve the right to Close Out the Transaction in accordance with paragraph 9. If we have not received the funds by the Maturity Date or any agreed change to the maturity date , we reserve the right to Close Out the Transaction in accordance with paragraph 9.
You agree to make all payments to our account electronically and you acknowledge that we will transmit your funds by electronic means only. If you fail to do so, we reserve the right to Close Out the Transaction in accordance with paragraph 9. In the event that we agree to make a payment for you without having received the full amount, you acknowledge that we are not waiving our right to ask you for the full amount after the Transaction has been processed.
You will need to book a new Transaction. Subject to your right to cancel the Order in accordance with clause 8. After we receive your Instructions, we will send you an Order Confirmation. The Order Confirmation constitutes an error correction mechanism only; if you do not contact us immediately on receipt of the Order Confirmation, the Transaction details will be deemed to be correct.
You may not cancel an Order after the Target Rate has been reached, whether or not we have notified you that the Target Rate has been reached. When the Target Rate is reached, you are legally bound by the Transaction. This will occur when the rate you have nominated has been exceeded by an amount that includes our Margin. You may find that, in some cases, the exchange rate spikes with the result that the exchange rate you have nominated in your Order has been reached but has changed before we are able to fill the Order with our provider; for the avoidance of doubt, we will not fill your Order in those circumstances.
As soon as you receive our notification, you must take action to ensure that the funds reach our account by the Delivery Date. If we do not receive the funds in time, we reserve our right to Close Out the Transaction in accordance with paragraph 9. If the value of the currency you have asked us to exchange has strengthened, a loss will be incurred on the Transaction and you will be liable to pay us the amount of that loss, together with any expenses, premiums, commissions or other fees incurred by us.
If the amount we are seeking to recover exceeds the amount of any Advance Payment or other funds held by us, you agree to pay the balance within 7 days of being notified by us of the total amount due.
Interest will accrue and will be calculated daily and be compounded monthly from the date payment was due until the date full payment is made by you. Our complaints officer will attempt to resolve the dispute to your satisfaction as quickly as possible. You agree to accept the determination of the arbitrator. In particular, you acknowledge that we operate an online dealing platform that could be subject to technical, or other, problems, the nature and duration of which may be beyond our control.
Our service also involves the use of intermediaries who are outside our control. Accordingly, while we do everything in our power to ensure the timely transmission of funds, we cannot guarantee that transfers of funds will always be made on time and cannot accept any liability to you for any loss suffered by you as a result of any delays in the transmission of funds.
We will not be liable to you for any form of consequential damages or loss that you may suffer as a result of:. Without in any way limiting the effect of this paragraph or any other paragraph of this agreement, "consequential damages" shall be taken to include damages arising from:. This includes any legal costs that we may incur in order to enforce our rights or recover any amounts you owe us.
You also agree to indemnify us for any fees, costs, duties and taxes charged by third parties in relation to the Transactions you enter into, including fees charged by your beneficiary bank, whether or not those fees or charges were notified to you in advance.
Sometimes there may be a reason why access will not be possible. If that is the case, you will be told why. We may also provide your information to any partners, agents or intermediaries who are a necessary part of the provision of our products and services.
In particular, you agree that we may obtain, use and retain information about you that we have obtained from any business that provides information about the credit worthiness of individuals, including a consumer credit report from a credit reporting agency.
In doing so, we may give information about you to a credit reporting agency for the purpose of obtaining a consumer credit report about you and allowing the credit reporting agency to create or maintain a credit information file containing information about you. The information will be limited to your identity particulars, including your name, sex, address and the previous two addresses , date of birth, name of employer, and drivers license number, as well as the fact that you have made an application for credit to us.
You must tell us if any of your personal details change as soon as practicable. Proof of posting will be proof of receipt; in the case of facsimile or email on the day of dispatch, in the case of delivery by post 48 hours from the date of posting.
Documents shall be sent to the last known postal address, email address or fax number you have given to us. If they change, you must notify us as soon as possible. This will not affect any rights or obligations you already have, but you will be bound by the new terms when you enter into subsequent Transactions. The specific transactional details of each Transaction, including the currencies to be exchanged and the amount of the transaction, will be agreed separately when you book the Transactions; they will constitute separate agreements in their own right, but will incorporate these terms and conditions.
You should read our PDS before signing this agreement so that you understand exactly how our service operates. You must be the owner of any funds that are the subject of a Transaction. An Authorised Signatory may have unlimited authority to give us Instructions on your behalf or you may specify the stages of a Transaction they are authorised to undertake.
If you wish to change the Authorised Signatories, you may do so by completing a Change of Authorised Signatory Form or otherwise notifying us in writing. We will accept any Instructions received pursuant to the use of the Username and Password without checking the identity of the user or their level of authorisation and you will at all times be bound by those Instructions. The Transaction will be legally binding on you when we receive your Instructions in accordance with this clause 4 or clause 5.
We will provide you with confirmation of the Transaction Details on the screen at the time you book the Transaction, but we will not provide you with any subsequent confirmation of any kind, unless you request it.
If we cannot contact you by telephone on the number you have given to us within 15 minutes of your booking, we reserve the right to cancel the booking and not enter into the Transaction. You acknowledge that, if you choose to book a Transaction by email, it may not be processed immediately.
If there is any discrepancy between the Deal Confirmation and the details of the Transaction set out in your email, you must contact us within 24 hours of receipt of the Deal Confirmation, failing which the Transaction details in the Deal Confirmation will be deemed to be correct.
In the event of any dispute, the recording or transcript of our telephone conversation may be used as evidence as to the terms of the agreement that was entered into. After the telephone call, we will send you a Deal Confirmation. If you do not receive the Deal Confirmation, the Transaction is still legally binding and will be evidenced by the transcript of the telephone conversation in which it was booked.
You acknowledge that the amount of any Advance Payments requested will be determined by us in our discretion and that we may request an Advance Payment even if we have entered into a credit limit arrangement with you.
If you do not do so, we reserve the right to Close Out the Forward Contract in accordance with clause 9. If we agree, you acknowledge that the Rate will be adjusted to account for the timing of the new Delivery Date. If we have not received the funds within 2 business days, we reserve the right to Close Out the Transaction in accordance with clause 9.
If we have not received the funds by the Maturity Date or any agreed change to the Maturity Date , we reserve the right to Close Out the Transaction in accordance with clause 9. If you fail to do so, we reserve the right to Close Out the Transaction in accordance with clause 9. The Option Agreement will become legally binding as and from the time that the Option Transaction details are orally agreed between us in the telephone call. After the telephone call, we will send you an Option Agreement Confirmation.
The Option Agreement Confirmation constitutes an error correction mechanism only; if you do not contact us within 24 hours of receipt of the Option Agreement Confirmation, the details of the Option Agreement will be deemed to be correct. If you do not receive the Option Agreement Confirmation, the Transaction is still legally binding and will be evidenced by the transcript of the telephone conversation in which it was booked.
In the event that we do terminate the Option Agreement, the Premium remains payable by you as a debt. It does not relate to the underlying foreign exchange transaction that will be entered into if the Option is Exercised and will not be applied in reduction of the settlement sum payable under any such foreign exchange transaction. In particular, you must immediately provide us with details of your Beneficiary Account and deliver to us in full the funds you are transferring within 48 hours of Exercising the Option.
We are required to collect Personal Information of Beneficial Owners to assist us to verify information about the beneficial ownership and control of our clients. We may also provide your Personal Information to any partners, agents or intermediaries who are a necessary part of the provision of our products and services.
You must tell us if any details change as soon as practicable. You are using Internet Explorer 10 and you are going to be redirected to a page that does not support Internet Explorer
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