Settling digitally enables you to support clients anywhere, anytime. We know that our members are utilising this flexibility and supporting buyers and sellers who are living or intent to relocate overseas.
Presently, we recognise the inability to transfer funds overseas from the FSS is a pain point, which requires you to spend time post-settlement to organise international payments – a process that can be cumbersome and costly.
Send is a non-bank, Australian based international payments and foreign exchange platform aiming to create borderless payment transfers. With Send, PEXA members and their clients can move money internationally in a convenient, safe and cost-effective way through Send’s 24/7 online platform. It provides users with:
Fast international transfers on settlements – as quick as one business day across 37 eligible currencies and over 180 jurisdictions
Competitive exchange rates
No Send fees on international money transfers, and
Peace of mind – Send is an ASIC & AUSTRAC regulated financial services provider
How will this work in PEXA?
Below is an outline of incoming and outgoing user journeys.
Is it safe to transfer my money with Send?
Yes! Keeping funds secure is of the utmost importance to PEXA and Send. Send are regulated in Australia by both ASIC and AUSTRAC and also holds an Australian Financial Services Licence (AFSL).
How do I add the bank account destination of the funds?
Once your Send account is opened, head to the ‘Add Recipient’ section within the portal. From here you can add the overseas destination bank account to transfer funds of your client/beneficiary.
Are there fees to sign up for a Send account?
Registering for a Send account is free.
Who do I call should I need assistance with my overseas transaction?
If your query relates to funds being directed from the PEXA workspace to Send or the PEXA Exchange itself, please contact our Member Support Centre.
Once funds have been disbursed to Send, any queries relating to the overseas beneficiary or use of the Send portal, should be directed to Send on 1800 958 429. They are available between 8am to 6pm AEDT, Monday to Friday.
Is PEXA integrated with Send?
PEXA is not integrated with Send at this stage but stay tuned! We are always working on enhancements to improve your experience.
This information does not constitute financial services advice. It is general in nature and doesn’t take into account your personal circumstances and objectives or your specific financial circumstances.
SendFX Limited ACN 617 647 220 AFSL No. 509635 (Send) provide Foreign Exchange Contracts and related services. These include both financial and non-financial services.
Property Exchange Australia Limited ACN 140 677 792 (PEXA) does not provide Foreign Exchange Contracts or related services. Under PEXA’s arrangement with Send, PEXA may receive a commission payment for transfers you make using Send’s products via a referral site hosted by Send. PEXA will not receive a commission on any financial products offered to referred clients by Send.
To the extent that this information relates to a Send financial service, Send has appointed PEXA as Send’s Authorised Representative (AR No. 1294465). A copy of PEXA’s FSG can be found here.