Global economic instability caused by the pandemic and a range of political factors sees us in the middle of a period of significant global trade volatility. This appears set to continue for some time to come.
We are only too aware of the consequences this has for our clients’ supply chains including reduced services, soaring rates, port omissions, frequent delays, equipment scarcity, empty container park congestion, and reduced capacity.
This volatility is also being felt in the fluctuating currency exchange markets. One of the most significant challenges faced by businesses is see-sawing exchange rates. FOREX markets are sensitive to global events and currency volatility is having a significant impact on importers’ income – for some this could mean the difference between a profit and a loss. It can also increase the difficulty of agreeing to overseas contracts. A rapidly shifting exchange rate can mean that a deal that was great when you signed it, appears less so a week later.
It’s important to have all the necessary risk management tools in place especially during periods of uncertainty. By optimizing your business processes around exchange rates you can minimize your vulnerability to fluctuating currency values in a turbulent global economy.
If your business is paying overseas suppliers, selling to a global customer base or looking to protect profit margins, we can help.
Magellan Logistics as partnered with OFX, an organisation that is committed to assisting Australian businesses to save on their FX and move money globally with confidence.
Magellan Logistics’ clients get preferential rates and OFX fee-free* transfers
- Bank beating exchange rates and $0 OFX fees* on transfers – keep more of your money while it travels around the world
- Stay ahead of currency volatility. Minimise exposure and create cash flow certainty with OFX’s range of risk management solutions
- When you’re moving money around the world, get help from real people when you need it, and a simple, streamlined digital platform when you don’t
- Global reach. Access over 55 currencies and transfers to over 190 countries
- Fix your rates. Create cash flow certainty; lock-in FX rates for up to 12 months and transfer later
- Dedicated 24/7 support. Currency concerns at 3am? Not to worry, experts are available around the clock
- Fast & Secure. Have your money when you need it. Make global transfers online, in-app or with an OFXpert – simply and securely
- Secure global transfers. With over 20 years of global FX experience, OFX has got you covered. OFX is regulated by ASIC and its parent company is listed on the ASX.
Magellan Logistics clients get the support they deserve with exclusive access to a dedicated account manager to lean on for FX expertise.
To learn more and secure this special offer, visit OFX website; or just get started – it’s as easy as 1,2,3
- Register online at ofx.com/magellanlogistics
- An OFXpert will call to welcome you. Make sure you let us know the name of your referee to unlock your benefits.
- Start transferring.
*Minimum transfer AUD$250. Intermediary fees may still apply.