Case Studies

The following are real case studies or transactions made by our clients. The clients' names have been changed to protect their confidentiality.

Case Study - Corporate Client

Steve, an Australian based importer, needed to buy USD80,000 in exchange for Australian Dollars to pay for products purchased from his supplier in China.

Steve called his bank and received an AUD/USD rate of 0.7850, resulting in an Australian Dollar cost of AUD101,911. The bank also wanted to charge an AUD25 fee.

Steve then called OzForex and asked for a rate for him to buy USD80,000 in exchange for Australian Dollars. OzForex quoted a rate of 0.7930 resulting in an Australian Dollar cost of AUD100,883 and there was no fee to pay.

Steve saved: AUD1,028 on the rate
AUD25 on the fee
AUD1,053 TOTAL

Case Study - Private Client

After having just moved from the UK to Australia, Margaret was awaiting the proceeds from the sale of her house in the UK which she sold for GBP390,000. 

Margaret called her UK bank and was offered a GBP/AUD rate of 2.0150 meaning she would receive A$785,850. The bank also wanted to charge a GBP30 fee (approximately AUD60).

Margaret then called OzForex and asked for a rate for her to sell GBP390,000 in exchange for Australian Dollars. OzForex quoted 2.0450 meaning she would receive AUD797,550 and there was no fee to pay.

Margaret saved: AUD11,700 on the rate
AUD60 on the fee
AUD11,760 TOTAL

 

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