SAN FRANCISCO--(BUSINESS WIRE)--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 Western Union Business Solutions to deliver a new cross-border money transfer solution, OANDA Money Transfer.
Directly accessible through the OANDA website and its world trusted 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.
The service has officially launched in the US, Canada, Australia, and the UK, and will be expanding to additional countries in the near future.
Vatsa Narasimha, OANDA CEO, commented: “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 most influential providers of foreign exchange and fund transfer services 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 added “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.”
OANDA Corporation has transformed the business of foreign exchange through an innovative approach to forex trading. The company’s leading online trading platform, fxTrade, introduced a number of firsts to the marketplace, including immediate execution; instant settlement on trades; trades of any size between one unit and 10 million units; and interest calculated by the second.
The company’s many awards attest to the power and flexibility of its trading platform. OANDA has been named “Best Forex Provider” by the Financial Times and by Investors Chronicle; “Best FX Broker” by Forex Magnates; and was recognized by Investment Trends Singapore as providing “Best Value for Money” and “Highest Overall Client Satisfaction”.
OANDA was the first online provider of comprehensive currency exchange information, and today the Solutions for Business division provides FX data services to global corporations. The OANDA Rates® are widely considered the benchmark rates for corporations, auditing firms and accounting professionals globally.
OANDA has five offices worldwide, in Chicago, London, Singapore, Tokyo, and Toronto. OANDA is fully regulated by the U.S. Commodity Futures Trading Commission (CFTC), the U.S. National Futures Association (NFA), the Monetary Authority of Singapore (MAS), the Investment Industry Regulatory Organization of Canada (IIROC), the UK Financial Conduct Authority (FCA), and the Japanese Financial Services Agency (FSA).
Western Union Business Solutions
Western Union Business Solutions enables companies of all sizes to send and receive international payments and manage global cash flow, creating unique solutions tailored to suit their individual needs. It is a business unit of The Western Union Company (NYSE: WU), a leading nonbank provider of cross border payments. Clients are supported by a network of trading offices, strategic banking relationships and a global clearing network and can send cross-border foreign exchange payments in more than 130 currencies.