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OFX Fee FREE International Transfers & Preferential Exchange Rates with 0.45% Margin (Doctors Only) @ Doctors Club

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OFX Fee FREE International Transfers & Preferential Exchange Rates with 0.45% Margin (Doctors Only) @ Doctors Club
Go to Deal
Store RepLgcohe000 on 04/08/2017 - 17:03 doctorsclub.com.au (215 clicks)
Last edited 06/08/2017 - 11:15 by 2 other users

This offer is only available to members of DoctorsClub.com.au

Transfer funds internationally (foreign exchange) with OFX and there will be NO FEES and a margin of only 0.45%.
To put that in perspective, the usual margin is 3% and even high value transfers or special deals rarely get below 1%.
 
You can save a heap on holidays.
When you book and pay for a foreign holiday using a premium credit card the typical margin is 3%. By using the Doctors Club OFX offer instead to transfer the funds, you’ll save up to $510 on a $20,000 holiday. No amount of credit card points on offer are worth that much.
 
You can save on property
If you’re transferring foreign currency to buy a house in Australia, or you’re buying property overseas with non-local currency, compare the Doctors Club OFX offer to the typical 3% rate. That’s a saving of $12,500 on a $500k property purchase. Even dropping the rate from 1% to the Doctors Club exclusive OFX offer rate will save $2,750. 

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closed Comments

  • mathew42 on 04/08/2017 - 17:10
    +1

    No privacy policy on the website.

    I wonder how much money they are making from selling personal information? I would expect a curated list of doctors has considerably more value than an average list.

    • Store Repgcohe000 @ Doctors Club on 04/08/2017 - 17:16
      -4

      Hi,
      Thanks for viewing our website. A concrete privacy policy is in the works but I assure you, we do not give out any of our members personal information. If companies wish to interact with our members, they must do so through our website and portals.

  • altomic on 04/08/2017 - 17:16
    +18

    Doesn't recognise my PhD in Bargainology

  • ausdday on 04/08/2017 - 17:24

    "you’ll save up to $510 on a $20,000 holiday", "a saving of $12,500 on a $500k property purchase"
    yeap, sounds like only for doctors (not the PhD kind).

  • Maverick-au on 04/08/2017 - 18:04
    +4

    So a saving of $510 on a $20,000 holiday but at the cost of convienence, points, the ability to change (good luck getting your money back), the ability to charge back and so on and so forth. Ignoring as well that half the $20,000 won't be payable in advance so the "saving" is a few hundred.

    Would a doctor stuff around given all this extra time spent transferring cash could bring them in thousands in patient fees. Nope.

    And of course this ignores the cards that don't charge extra for international transactions.

  • Whatisthatvelvet on 04/08/2017 - 18:08
    +2

    Can you hold this deal until I start and finish my medical degree?

    • Store Repgcohe000 @ Doctors Club on 06/08/2017 - 09:38

      We will try as hard as we can to hold on to this deal. There is a medical student subscription in the works as well!

      • [Deactivated] on 07/08/2017 - 08:21

        Why the doctor fetish? Looks rather sinister.

        • Store Repgcohe000 @ Doctors Club on 07/08/2017 - 08:32

          We are an organisation focused on harnessing the power of the doctor community within Australia. We chose the doctor community because we know it well and we are a part of it.

  • Maverick-au on 04/08/2017 - 18:08

    If you’re transferring foreign currency to buy a house in Australia

    The Chinese smuggle this is in as cash so the Chinese government doesn't confiscate it and our government welcomes it hence there is no monitoring of cash purchases of houses.

    • [Deactivated] on 05/08/2017 - 01:48

      Lol source?

      • Maverick-au on 05/08/2017 - 04:20

        Lol source?

        It's truly amazing that there are people that have no idea what is going on around them.

        How do you think they get money out of China when their Government has restrictions on how much can be taken out? How do you think they spend millions on property when it would take them 10-20-30-40+ years to get this money out legally? Why do you think so many Chinese get caught smuggling cash into Australia?

        "Under Australian law, foreign investors can only purchase new homes or units — they are prohibited from buying existing dwellings. And Chinese citizens are restricted to moving a maximum of $US50,000 ($66,000) out of the country a year.

        But rorting of the system is rife, The Australian reports. Many Chinese skirt the system by transferring the cash to agents in Australia via multiple small payments through networks of family and friends. Others may use networks of companies to purchase properties.

        In 2015, a report from the Paris-based Financial Action Task Force (FATF) warned “large amounts” of cash were laundered out of China into the Australian real estate market, but under current anti-money laundering regulations, only financial institutions are required to report suspicious transactions."

        http://www.news.com.au/finance/economy/australian-economy/ch…

        ""In Australia, 70 per cent of Chinese buyers pay in cash and they represent the largest proportion of foreign purchases in the country,' says the report Doors Wide Open - Corruption and Real Estate in Four Key Markets by the Berlin-based monitoring group.

        …. real estate agents are not subject to the provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006," Transparency says, noting that "lawyers and accountants, who may also play a role in the sector are not covered either"."

        http://www.afr.com/real-estate/residential/70pc-of-chinese-p…

        • 82Degrees on 09/08/2017 - 18:46

          Absolute hog wash, you've no idea what you are talking about. The $US50,000 limit is only if you want to take advantage of Bank of China's CNY fx transactions services (who gives the best CNY rates on the market w/o transaction fees) without giving any reasons. If you want to transact more than $US50,000, all you have to is fill out a form saying you want to buy a house overseas and they'll approve it.

          If you are happy with worse rates, there's also tons of alternative providers like Alipay, Wechat, overseas banks etc.

        • Maverick-au on 09/08/2017 - 18:52
          +1

          @82Degrees:

          Absolute hog wash, you've no idea what you are talking about. The $US50,000 limit is only if you want to take advantage of Bank of China's CNY fx transactions services (who gives the best CNY rates on the market) and don't want to give any reasons. If you want to transact more than $US50,000, all you have to is fill out a form saying you want to buy a house overseas and they'll approve it.

          What part of money laundering don't you understand? This is money being smuggled because they don't want the Chinese government knowing about it and taxing it.

          You have no idea what you're talking about and are posting utter rubbish because you cannot transfer money out to purchase property.

          "From here on in, customers are required to state the intended use of the transferred funds. At the beginning of July 2017, banks and other financial institutions in China will have to report all domestic and overseas cash transactions of more than 50,000 yuan ($7,201), compared with the current amount of 200,000 yuan."

          "Use for overseas property, securities, life insurance or other investment-style insurance products is DISALLOWED.
          Use for tourism, schooling, business travel, medical care, trade in goods, non-investment insurance and consulting service purchase are ALLOWED."

          "it is a clear signal from the Chinese government that they’re unhappy about people putting their personal wealth abroad."

          https://www.theurbandeveloper.com/chinas-new-currency-regula…

        • 82Degrees on 09/08/2017 - 19:25

          Buying a house overseas is NOT money laundering. How do you think thousands of Chinese immigrants, businesses, investors manage to buy ANY property?

          If you think that's somehow criminal or not allowed, then you are not clued into the Chinese mainland or its regulatory conditions. Likewise for that clueless western blog that you quoted.

          Though I'm not terribly surprised, I see so much ridiculous spin nowadays from western media trying to demonize China any way it could.

        • Maverick-au on 09/08/2017 - 19:36

          @82Degrees:

          Buying a house overseas is NOT money laundering.

          I didn't say it was buy smuggling cash out of the country and into another when it's from illegal activities is.

          How do you think thousands of Chinese immigrants, businesses, investors manage to buy ANY property?

          Smuggling cash out of China.

          If you think that's somehow criminal or not allowed, then you are not clued into the Chinese mainland or its regulatory conditions. Likewise for that clueless western blog that you quoted.

          You've posted nothing but rubbish to support your claims, I've provided quotes and linked to the source.

          Though I'm not terribly surprised, I see so much ridiculous spin nowadays from western media trying to demonize China any way it could.

          You're not doing anything to change the view with your lies. How is providing facts about the Chinese demonizing them?

        • 82Degrees on 09/08/2017 - 20:44

          @Maverick-au:

          I didn't say it was buy smuggling cash out of the country and into another when it's from illegal activities is.

          You're the one who's blatantly insinuating the hard earned money of Chinese citizens that want to invest or live in this country is coming from "illegal activities". And in case you haven't heard, using cash is also not illegal.

          Smuggling cash out of China.

          Weasel words, again not illegal.

          You've posted nothing but rubbish to support your claims, I've provided quotes and linked to the source.

          Referencing some two bit wordpress blog made written by some westerner doesn't prove anything. You can open a Bank of China account in China yourself, deposit 400000 cny, fill in the form asking for a bank wire then withdraw it from an Australian bank account within a week. The fact that my friends and family can do this and HAVE done this proves what you're saying is bs. Ditto for the numerous Chinese individuals living in Australia.

          How is providing facts about the Chinese demonizing them?

          Right, a person who's never been to China, doesn't know Chinese, telling everyone all the Chinese people interested in living/investing in Australia are all smugglers engaging in illegal activities - that's NOT demonizing them right? rolls eyes

        • Maverick-au on 09/08/2017 - 21:43

          @82Degrees:

          You're the one who's blatantly insinuating the hard earned money of Chinese citizens that want to invest or live in this country is coming from "illegal activities".

          So explain where your average Chinese citizen Congress up with $1-5 million dollars in cash to buy a property?

          And I'm not insinuating anything, it's well known that the Chinese are heavily involved in cash transactions for both legitimate and illegitimate goods and services and they snuggle this money out of China to countries with weak laws like Australia.

          And in case you haven't heard, using cash is also not illegal.

          It is the way the Chinese are using it, like the ones we see on border security acting confused and claiming not to speak English when caught with $200,000 on them or 6 suitcases full of animal testicles, meat and egg products.

          "Despite highly credible warnings that large volumes of illicit money leaving China were being laundered in Australia, a Four Corners investigation found no Australian agency was charged with identifying the true source of foreign funds being invested into the economy.

          That is despite $US1.25 trillion ($1.7 trillion) worth of corrupt and criminal proceeds from China estimated to have been spent around the world in the decade to 2012."

          http://mobile.abc.net.au/news/2015-10-12/chinese-investors-f…

          Referencing some two bit wordpress blog made written by some westerner doesn't prove anything.

          Could you be any more racist? So a westerner cannot write about the Chinese. Wow. What about all the other sources I've listed including the Australian government? Oh wait westerners don't know anything.

          You can open a Bank of China account in China yourself, deposit 400000 cny, fill in the form asking for a bank wire then withdraw it from an Australian bank account within a week. The fact that my friends and family can do this and HAVE done this proves what you're saying is bs. Ditto for the numerous Chinese individuals living in Australia.

          Sure using one of the many dodgy banks that are being cracked down on and lying on the paperwork.

          Right, a person who's never been to China, doesn't know Chinese, telling everyone all the Chinese people interested in living/investing in Australia are all smugglers engaging in illegal activities - that's NOT demonizing them right? rolls eyes

          Why does someone have to speak Chinese and have been to China to point out the billions of illegal money coming into Australia each year from China?

          I have family members who do business in China and it's well known how much money leaves the factories as cash for the owners and payments from foreign buyers being split so only a percentage goes into Chinese accounts.

          "Why dodgy Chinese banks influence Australian property values

          Few Australians buying houses and apartments in Melbourne and Sydney realise that the value of their properties partly depends on the success of China’s attempt to prop up its dodgy banks.

          And the values may also become linked to the looming global tangle between China and the US which will include trade, the South China Sea and Taiwan.

          The Chinese citizens sending money to Australia are scared that China’s banks and/or the currency will collapse so go to incredible lengths to get money out of China and into “safe havens” like Australian and Canadian real estate.

          But the Chinese money exit clamps are becoming more successful and we have seen a big fall in Chinese demand for Sydney apartments."

          http://www.theaustralian.com.au/business/opinion/robert-gott…

        • 82Degrees on 10/08/2017 - 01:02

          @Maverick-au:

          So explain where your average Chinese citizen Congress up with $1-5 million dollars in cash to buy a property?

          And I'm not insinuating anything, it's well known that the Chinese are heavily involved in cash transactions for both >legitimate and illegitimate goods and services and they snuggle this money out of China to countries with weak laws like >Australia.

          Yes you are. You're insinuating any rich Chinese person who has the the money to buy a $1-5 million property MUST be engaging in illegal activity without showing anything to prove it. This is an ad hominem and racist attack against the people of China. This is not 1975, this is 2017. China has grown to be the biggest economy in the world in PPP, 2nd biggest in US dollar terms. Wages in the country are rapidly increasing every year, far faster than any other country. China accounts for 90 per cent of world’s new billionaires. There are now more billionaires in China than in the US! (609 to 552) Your belief that China is still some sort of poor backwards country who can't possibly afford anything shows your ignorance at anything China-related.

          It is the way the Chinese are using it, let me guess you're like one of the ones we see on border security acting confused when caught with $200,000 on them.

          Travellers can carry an unlimited amount of cash into and out of Australia. All it takes is filling in a declaration form. Just like all it takes to transfer $50,000 in and out of China is another form. But if you don't know how to filling forms…. well maybe that's why you think everything is illegal? Lol.

          "Despite highly credible warnings that large volumes of illicit money leaving China were being laundered in Australia, a Four Corners investigation found no Australian agency was charged with >identifying the true source of foreign funds being invested into the economy.

          That is despite $US1.25 trillion ($1.7 trillion) worth of corrupt and criminal proceeds from China estimated to have been spent around the world in the decade to 2012."

          A good example of wild unsubstantiated claims with no proof or evidence proliferated by shonky western journalists trying to demonise China to further their agenda.

          Could you be any more racist? So a westerner cannot write about the Chinese. Wow. What about all the other sources I've listed including the Australian government? Oh wait westerners don't >know anything.

          Mmmm it is pretty racist. An ignorant westerner who don't speak the language, who's never been to the country, so pretentious that they're telling Chinese citizens what they can and can't do in the China. Despite actual Chinese telling them otherwise. And no you have not listed any sources from the "Australian government".

          Sure using one of the many dodgy banks that are being cracked down on and lying on the paperwork.

          Nice, more weasel words despite admitting people can withdraw money wired from China to an Australian bank.

          Why does someone have to speak Chinese and have been to China to point out the billions of illegal money coming into Australia each year from China?

          You can start by proving ANY of that money is illegal. Look at the tag on the shirt you're wearing, which country is it from? Look at the back of monitor you're staring at, which country is it from? The people in China have been legitimately working hard to produce valuable goods for world to the tune of 2 trillion dollars every year, plus a rapidly growing domestic economy of 7 trillion dollars. The money is well earnt by people who've worked very hard at their jobs.

        • 82Degrees on 10/08/2017 - 01:03

          http://www.theaustralian.com.au/business/opinion/robert-gott…

          Another good example of another ignorant hack journalist peddling the myth of imminent China collapse for the last 30 years.

        • Maverick-au on 10/08/2017 - 04:07

          @82Degrees:

          Another good example of another ignorant hack journalist peddling the myth of imminent China collapse for the last 30 years.

          Given that your hate for western countries is so obvious why do your stay here in Australia? You've proven yourself to be racist, your alligence is to China, you clearly won't accept all the facts being presented and actively go out of your way to be obtuse and mislead people.

        • 82Degrees on 14/08/2017 - 00:15

          @Maverick-au:

          I don't hate western countries, I hate western media that is always spreading negativity and telling lies about other countries, resulting in populations that are always talking, not listening. Training people hell bent on telling the world the way things are. Like this conversation, you have some guy in Australia telling me, someone who has lived in China, how I can't send money from China, because they've read some articles on the net somewhere. Then when I correct them, they start tossing buckets and calling racism.

          People learn nothing because they think they already know everything.

          I mean this stereotype used to be only about ignorant Americans and their closed minded worldviews, but now I'm sad to see this has spread to Australia.

    • mathew42 on 05/08/2017 - 11:01

      Overseas investors buying Australian dollars push up1 the value of the Australian dollar making buying from sites like banggood, amazon, aliexpress, etc. and overseas holidays cheaper.

      1. This is not the only factor that will influence the exchange rate. ↩

  • PJC on 04/08/2017 - 18:47

    Vendor in title please.

  • Changskies on 04/08/2017 - 22:15
    +1

    how do you neg vote?

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