I refer to the share price plunge of OFX after Westpack pulled the pin. I have noticed that NAB is the only Australian bank involved with OFX and lately it was reducing its holdings as well.

If NAB also pulled out due to regulation issues, will OFX operation be seriously affected? Can OFX operate without any Austrlian banks involvement. Pls clarify how OFX can operate if NAB also pulled out.

Hi — I'm not sure if you are, but be careful not to confuse banks as shareholders and banks as bankers. A bank may be the former on account of its fund management businesses eg MLC for NAB and the latter in the course of its ordinary banking business. The two are completely different and would operate completely independently, so you wouldn't want to infer from NAB selling shares that it might be about to withdraw its banking services.

As to those services, note that NAB is still on the list given by OzForex at the time of Westpac's withdrawal, as is Macquarie, among 14 others.

Foreign Exchange Partner Program | About

The other big banks named in that announcement also have licences to operate as banks over here, so the company has plenty of people willing to do its banking. As we wrote in our appraisal of the Westpac departurethough, if banks are generally nepalese currency rate in qatar reluctant to provide these services, then they're likely to cost a little bit more, thereby potentially affecting profit and growth.

InvestSMART Publishing Pty Ltd ozforex partner login Australian Financial Securities Licence AFSL The content of this website is general in nature and does not take the personal situation of any user of this website into consideration. Past performance of any security or financial product is not a reliable indicator of future performance. InvestSMART Publishing Pty Ltd encourages users of this website to view investing as a long-term pursuit.

This website and its contents are protected by copyright law. All the copyright in this website and its contents is reserved.

Please refer to the Terms and Conditions of this website for details. Skip to main content.

OzForex banking partners | Intelligent Investor

Intelligent Investor Home About Intelligent Investor InvestSMART Login Subscribe. Search Search Search Search.

Research Latest Articles Videos Podcasts Reports Issues Latest Research 6h ago 0. Answered by James Carlisle 03 Feb OFX Ofx Group.

Login - OFX Foreign Exchange Services

Question I refer to the share price plunge of OFX after Westpack pulled the pin. Answer Hi — I'm not sure if you are, but be careful not to confuse banks as shareholders and banks as bankers.

Answered by James Carlisle 1y ago. Answered by Graham Witcomb 2y ago.