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Thread: Oanda Funding

  1. #1
    shaun Kryzz's Avatar
    Join Date
    May 2008

    Default Oanda Funding

    Having some confusion with funding an Oanda account. I'm using the wire transfer option (i use netbank btw)

    Send wire transfer to:

    Select your currency before proceeding.
    Bank: ANZ Banking Corp, Melbourne
    Bank Address: 570 Church Street, Richmond VIC, Australia
    Bank SWIFT Code: ANZBAU3M
    Account Number: 218032/00001

    In the additional instructions field, you must include:
    For Further Credit to
    Account Name: OANDA Corporation
    Account Number: 32282904 OR IBAN: GB76CHAS60924232282904 (Final beneficiary)
    {FXTrade Account Holder's Name and FXTrade Account Number (if a new account, reference the words New Account)}.

    ***Please instruct your bank to send wire transfer via SWIFT.***

    What location am i sending the money to, melbourne or london?
    What swift code do i use?
    What account number do i send it to the first or second one?

    I have spoken to Oandas 'live help', they weren't very helpful.



  2. #2

    Default Re: Oanda Funding

    I took those instructions to my bank (ANZ) a few weeks ago and the young girl there said it didnt make sense. I emailed them and they sent further instruction which I have yet to take into the bank and have another go.

    See if this makes sense - (part of email response)

    To summarize, it is a three step process as OANDA has a bank account with JPMorgan Chase London. In turn, JPMorgan Chase London has a bank account with ANZ Banking Corp, Melbourne. You would select 'Australia', because JPMorgan Chase London has a bank account with ANZ Banking Corp, Melbourne.

    Therefore, when you send the wire to ANZ, they will credit the funds to JPMorgan Chase London's bank account (218032/00001). Then, JPMorgan Chase London will credit the funds to OANDA's bank account (32282904). After this, the funds are then credited by OANDA to your FXTrade Account.

  3. #3
    Currency Trader
    Join Date
    Jan 2008

    Default Re: Oanda Funding

    i got told years ago that it made no sense.

    glad to see they have made it clearer.

    i ended up sending to london.

  4. #4

    Default Re: Oanda Funding

    It makes perfect sense.

    Oanda isnt a bank.
    Its backed by JP Morgan.
    JP Morgan dont have an Australian retail banking license, therefore they use ANZ bank as their clearer for Australian dollars.

  5. #5

    Default Re: Oanda Funding

    Just transferred funds then, it might make sense, but the instructions are still not user friendly. Will post if i stuffed up and get a rejection fee

  6. #6

    Default Re: Oanda Funding

    thought i'd post a follow up, my funds were 'lost' in transit since my last post, only just got them returned today, lesson learnt. take care when sending money overseas!!

  7. #7

    Default Re: Oanda Funding

    I trade with Oanda. Best to go into bank and do the transfer through them.

    Good luck.

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