OANDA, one of the first brokerages in the world to target retail clients, has entered into collaboration with Western Union to offer a new cross-border money transfer solution to its clients.
OANDA money transfer is accessible through the OANDA website, and it allows customers to efficiently set up an account, send money in over 130 currency and to 170 countries.
The application enables 24/7 access to real-time rates for personal and business FX transactions, and is available on desktop and mobile. The service is already live in the US, Canada, Australia, and the UK. In the near future, it will be expanding to additional countries.
“We are thrilled to be working with one of the most trusted names in the business to bring our customers and visitors a fast, reliable money transfer solution in a time of unprecedented challenges in foreign exchange,” said Vatsa Narasimha, CEO of OANDA.
“We are excited about our alliance with OANDA, which brings together two powerhouses in the foreign exchange and international payments space to help OANDA empower their clients with a solution that marries our cutting-edge global payments platform with OANDA’s legacy, reputation, and proven FX capability,” said Kerry Agiasotis, Chief Payments Officer for Western Union.
OANDA was the first broker in 1995 to offer a broad range of currency exchange-rate information free of charge over the Internet.
Twenty years after, it possesses one of the world’s largest and most accurate databases of currency rates, handling more than a million queries a day.
Once you sign up for an account with them, you can benefit from low spreads, immediate execution and instant settlement with no dealer desk intervention as per what they claim.