Step-by-Step Overview

A FXGlobalTransfer Overview, From Start to Send

This page provides a high-level overview on how FXGlobalTransfer works. For more details, go to the Getting Started (PDF).

• Open an account with OANDA

• Fund your account

• Add recipient(s)

• Set up a transfer

• Check your transaction status

Open an account with OANDA

1. Register. Use our online registration form to create a new account. (Existing FXTrade users can fill out a shorter form.) Alternatively, you can register offline by mailing in a registration form.
   
   You can open a primary account (and fund it) in U.S. dollars, euros, British pounds, Japanese yen, Australian dollars, Canadian dollars, or Swiss francs. You can also open subaccounts in any of these currencies in case you want to hold money in other currencies.


2. Activate. After you submit your completed registration form, you will receive an email containing an account activation link. Click on the link in the email to activate your account.


3. Confirm your identity. Once your account is activated, you will need to provide identification to OANDA. A scanned copy of your passport or government issued ID and a copy of a recent utility bill is usually all that is required. Once your identity has been confirmed, your account will be authorized for use.


4. Receive authorization. You will receive an email stating that your account is authorized for funding. Your new account also provides access to other OANDA products and tools like FXTrade, Cash Management and FXNews.

Fund your account

1. Send funds. You must wire funds from your financial institution to OANDA to fund your OANDA account. To avoid potential currency exchange charges, be sure to wire funds in the same currency as your FXGlobalTransfer account (or subaccount).
   
   You can log in to OANDA's Cash Management System to find out how to wire funds in your currency.


2. Notify OANDA. After you wire the funds, log in to the Cash Management System and complete the online Deposit Notification Form to let us know your funds are on the way.
3. Receive confirmation. You will receive an email confirming that funds have been deposited in your OANDA account and are available for you to use.

Add recipient(s)

1. Log in to FXGlobalTransfer.


2. Click the Recipients tab.


3. To send funds to a recipient, you need to type in the recipient's personal and bank account information accurately and in full. This information is saved so you can use it again and again. 
   
   For more details on setting up your recipient list, including information on the types of bank information required, go to the Getting Started (PDF).

Set up a transfer

1. Log in to FXGlobalTransfer.


2. Click the Set Up a Transfer tab.


3. Select the recipient account to which you want to transfer the funds.


4. Select the OANDA account from which you want to send the funds. This can be your primary or any secondary account, and must contain adequate funds to cover your transaction.


5. Select the currency you want to send, and type the amount. You will see the cost breakdown and total cost of your transfer, in your account currency. This total is calculated using live exchange rates so you may notice it changing as the market fluctuates.


6. Click Send funds now to initiate the transfer. The total cost is subtracted immediately from your OANDA account.

Check your transaction status

1. Log in to FXGlobalTransfer.


2. Click the Transaction History tab. All your transfers are sorted by account.


3. To open a summary table for a particular account, click the down arrow. Each transaction will show one of the following status types:
   
   
   • Transfer request received. Awaiting approval: This status appears after you submit your transfer. It indicates your transfer request has been received, and is waiting for OANDA’s approval before being processed. To protect against fraud or unauthorized access, OANDA inspects all transfers and may contact you for verification before continuing.
   • Transfer approved. Funds released: You transfer request was approved by OANDA. The funds can now be sent to the recipient. Once approved, most transfers complete in two business days or less.
   • Funds wired to recipient: OANDA has verified that your transfer was sent to the recipient’s bank. The bank must then credit the recipient’s account to complete the transfer process.
   • Funds Returned: This status appears in the rare case when there is an issue with your transfer. You will receive an email informing you that the funds were returned to your OANDA account.
4. To see more details on a particular transaction, click the transaction number.


5. To view your complete transaction history, including funds deposited, withdrawn and used for trading activity, log in to the FXTrade Cash Management System.

Want more details? Review the Getting Started (PDF).

Need help? Click on the Live Help icon to chat with one of our customer service representatives online.