So what we do in that case is pretty much once they set up an account with OFX, we issue them overseas bank accounts where they’re selling. We help sellers pay suppliers internationally. Can you introduce to us OFX company, what does it do and what problems does it solve for Amazon sellers? Augustas: Are you looking for a service provider to transfer money internationally where fees are reasonable? Check out my interview with Ed Wiley from OFX – the global money transfers company. List of questions covered in this video:Ġ0:18 What does OFX company do and what problems does it solve for Amazon sellers?Ġ1:23 Do you have any other things on offer for the market place sellers?Ġ3:44 And If someone is expanding outside Amazon, can they receive payments from their website and other market places?Ġ5:06 In what countries do you operate? and sellers from which countries do you accept? and bank accounts of which countries do you provide?Ġ6:30 And what are the requirements for these regular countries to join OFX?Ġ7:17 Why someone would choose OFX instead of other service providers in the market?Ġ9:12 And how long does it take to set up everything If I send them today as a business? And how long do I need to wait until I can operate payments from Amazon to your service?ġ0:21 Do you face any troubles when people change their bank account?ġ1:53 When your customers receive payments from the marketplaces, they can use this money not only to cash out or send to the company account, but also to pay, let’s say suppliers, right?ġ3:29 Do you have any tips for sellers when they are paying overseas suppliers?ġ6:25 What are the fees when someone is using your service?ġ7:52 Can you show us how does OFX user interface works? How can people initiate transfers and check their balance?Ģ1:12 How do you transfer between your OFX accounts?Ģ1:38 Can you share with us a little bit of what’s happening in Australia with Amazon ? You’ll benefit from $0 setup or ongoing maintenance fees for accounts, $0 OFX transfer fees on currency conversions, and preferential exchange rate margin of 0.85% or less. OFX can offer you local currency accounts in USD, EUR, GBP, CAD, NZD, AUD and HKD allowing you to save significantly on transaction fees and margins when bringing your revenue home from international marketplaces like Amazon or using that revenue to pay suppliers.
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