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OANDA and Western Union team up for cross-border money transfers


The service has officially launched in the US, Canada, Australia, and the UK, and will be expanding to additional countries in the near future.

OANDA, one of the world’s largest providers of multi-asset trading services and foreign exchange solutions for individuals and businesses, today announced that it has teamed up with The Western Union Company (NYSE:WU) business solutions division to deliver a new cross-border money transfer solution, OANDA Money Transfer.

Directly accessible through the OANDA website and its online currency converter, the cross-border money transfer service allows customers to efficiently set up an account, send money in over 130 currencies and to 170 countries and territories.

Available on desktop and mobile, the application provides 24/7 access to real-time rates for personal and business FX transactions. OANDA customers will also have the ability to set up market alerts to be notified when a preferred market rate becomes available.

Vatsa Narasimha, OANDA CEO:

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.

The arrangement brings together two of the financial industry’s largest providers of foreign exchange and fund transfer services offering a sending money overseas guide at a time when payments and transfers are increasingly being executed across borders and in multiple currencies.

Kerry Agiasotis, Chief Payments Officer for Western Union:

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.

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  • Dave Dave

    transferwise is cheaper on most currencies

  • Andy

    They tried in the past already. It was called Oanda Global Transfer. It was really good, you could exchange physical FX for a flat fee on the usual oanda spreads of only a pip or so. Unfortunately it wass discontinued, presumably on AML issues.

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OANDA and Western Union team up for cross-border money transfers

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