Find out how much you could be saving through The Australian Community’s Preferred FOREX Rate.

"If there is a better rate on exchanging AUD to USD or USD to AUD, we have not seen it!"

Members of The Australian Community transfer millions of dollars every year for business and personal needs.  Based on this volume, a preferred rate on International wire transfers has been negotiated with OFX.

Foreign Exchange (FOREX) is confusing.  There is the Interbank or Market Rate and then there is the rate that your FOREX service offers you when you exchange money.

The less money you receive, the more the Banks and FOREX services are charging you in fees.

There is a lot of noise about which company has the best rate so we decided to compare The Australian Community's preferred rate on AUD to USD and USD to AUD through OFX, with TransferWise, a company that many of our members currently use - and claim has the best rate.

For more than a year, we have been comparing the final amounts that each service was offering when transferring AUD to USD and USD to AUD.

The most recent comparisons from August 12, 2019 are in the tables below.

USD to AUDOFXTransferWise Difference
$10,000$14,739.00$14,708.67$30.33
$1,000$1,474.20$1,470.08$4.12
$500$737.00$734.25$2.75

AUD to USDOFXTransferWise Difference
$10,000$6,726.00$6,722.63$3.37
$1,000$672.60$671.12$1.48
$500$336.30$334.92$1.38

The numbers tell us that if you use TransferWise, you are paying more in fees than if you use our Member Preferred Rate through OFX, especially when transferring USD to AUD!

Click here to register and access The Australian Community's Preferred Rate with OFX.  Your registration will automatically associate with the Preferred Rate.

"It makes absolute sense to combine the purchasing power of our members to negotiate a preferred rate on foreign exchange" said James Boland, President and Founder of The Australian Community, "If there is a better rate on International wire transfers, we have not seen it!"

Under this arrangement, members of The Australian Community are not limited just to AUD and USD transfers. Most popular currencies are covered which greatly assists Australian businesses who transfer money around the globe.

In a podcast interview, Mr. David Nicholls, Global Alliance Manager for USForex, now OFX, stated "The cost savings are significant", "Some banks take up to 8% of the total amount you are transferring, hidden in the rate itself".

Mr. Nicholls further explained the benefits to members who sign up for the service which include 24 hour access to dealers, and a downloadable App that enables members to transfer money to pay bills in other countries.

"Our membership continues to grow, fueled by benefits such as our FOREX rate" said Mr. Boland, "If you are not using our rate to transfer money around the globe, chances are you are paying too much in commissions."

June @ The Microsoft Store

Join The Australian Community for a Breakfast Mentoring  and Networking Event, plus a Private Tour of Microsoft's Flagship Fifth Ave Store!

Members are invited to attend this highly interactive Networking event where members can listen to Thought Leaders as well as mix and meet other professional Australians.  Members will also be invited to a private tour of Microsoft's Flagship Fifth Avenue Store.

Please use the highlighted entrance when you arrive at the Store.

For those members who find breakfast events more convenient to attend, or you have "Private Fifth Avenue shopping experience" on your New York bucket list, this is a must attend event.

The Microsoft Store is located on Fifth Avenue at 53rd Street.  The entry for the event is through the door located to the left of the main entrance - see image.

We have reserved a private conference room where coffee and pastries will be served.

Members and guests will also have the opportunity to experience first hand, the latest Microsoft products, including HoloLens Mixed Reality technology as well as a tour of Xbox Studios and 3-D theatre.

 

Eddie Geller, Founder and CEO of Tinybeans will be sharing his thought leadership on how to build a successful US based, Global company.

Tinybeans is an app and web-based platform that provides parents with one safe space to capture and share their children’s life stories with family. Tinybeans offers an experience without the distractions or privacy concerns that arise when sharing a child’s memories.

Founded in Sydney, Australia in 2012, Tinybeans serves a deeply engaged user base of over 2.4 Million users in over 200 countries/territories and keeps over 125 million precious memories safe.

 

 

 

Date:  Thursday June 21, 2018

Time:  7:45AM to 9:00AM

Location:  Microsoft Store Fifth Avenue.

Cost:  Complimentary for Members and a Guest. 

Non-members tickets are $45. 

 

Thank you to all our members and guests who attended this event!

 

JOIN THE AUSTRALIAN COMMUNITY

LEARN ABOUT U.S. TAXES

MOVING TO THE U.S.?

IS THIS THE BEST FOREX RATE AVAILABLE TO AUSSIES?

OPEN BANK ACCOUNTS AND ACCESS U.S. CREDIT

CONNECT WITH OUR PRIVATE PROFESSIONAL NETWORK

ANSWERS TO COMMON AUSSIE EXPAT QUESTIONS

Our Twitter Feed


Our Instagram Feed

We are a GuideStar Platinum Charity

10 Questions asked by Australians Living in New York

On Wednesday June 14, 2017 The Australian Community held a private networking event at Bluestone Lane’s DUMBO location in New York to record a video of the Top 10 Questions asked of The Australian Community.

Some of the answers captured in the thirty minute video revealed a number of common mistakes (and incorrect assumptions) made by Australian expats living in New York and the broader US. Continue reading “10 Questions asked by Australians Living in New York”