Under the agreement, MoneyGram customers are set to be able to make money transfers from a bank account in Australia or New Zealand to bank accounts overseas via PC, tablet or mobile phone. It also enables customers to execute transfers on specific dates or at specific exchange rate targets, and the option to buy bundled transfers to lock in low, ongoing average transaction costs.
Founded in 1998, OFX currently transfers money to 198 countries in 48 different currencies.
In recent news, MoneyGram has entered an agreement with Chinese financial institution Shanghai Rural Commercial Bank (SRCB).
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