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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 OFX and asked for a rate for him to buy USD80,000 in exchange for Australian Dollars. OFX quoted a rate of 0.7930 resulting in an Australian Dollar cost of AUD100,883 and there was no fee to pay.
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Case Study - Private Client
After having just moved from the Europe to The US, Peter was awaiting the proceeds from the sale of his house in the Europe which he sold for €300,000.
Peter called his Europe bank and was offered a EUR/USD rate of 1.3350, meaning he would receive USD$400,500. The bank also wanted to charge a €30 fee or approximately USD$40.
Peter then called USForex and asked for a rate for him to sell €300,000 in exchange for US Dollars. USForex quoted 1.3475 meaning he would receive US Dollars U$404,250 and there was no fee to pay.
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