OANDA said Wednesday (May 16) that it had partnered with Western Union Business Solutions to offer cross-border money transfers, via OANDA Money Transfer.
The multi-asset trading and FX solutions provider said that the new service allows customers to set up accounts and send money across 170 countries and territories. The transfers can be done across more than 130 currencies. Features include real-time rates across FX transactions and can be configured to alert users as to when preferred rates are being offered.
The service is available throughout the United States, the United Kingdom, Canada and Australia, and expansion will continue through what the two firms termed “the near future.”
In a statement, Western Union and OANDA asserted that the pact “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.”