Signing up is simple:

1. Visit https://www.ofx.com/p/prospera-credit-union/ or find the link on prospera.ca.
2. Click Sign Up Now.
3. Choose a Personal or Business
4. Complete the form and verify your identity.

Tips for signing up:

• Be ready to provide:
  • Full name, date of birth, residential address, occupation, email, contact details, and banking information
• For a Business account, download a current Prospera banking statement from online banking (printed copies are not accepted).
• During identity verification, ensure you have access to one or more of the below forms of ID:
  
  • Passport
  • Driver’s License
  • Citizenship Card
  • Permanent Residence Card
  • Indigenous Card/Indian Status Card
  • National ID
    
    
  • NEXUS cards are not supported as a form of ID currently.
    
    
• Proof of address – acceptable forms include:
  • Utility bills, such as gas, electricity, or water
  • Bank statements
  • Credit card statements
  • Lease agreements
  • Insurance policies
  • Mobile phone bills
  • Proof of address
    
    
• Access to a webcam or smartphone for a quick video or selfie
• Business account holders may need to provide additional documentation depending on the business type

For live assistance 24/7/365, contact OFX:

• Personal accounts: +1 800 680 0750
• Business accounts: +1 855 680 0745

• Personal accounts: Verification typically takes one business day
• Business accounts: Additional documentation may be necessary based on the business type. Once all required documents are received, processing is usually completed within a few business days

To make a transfer, an OFX account must first be set up and banking details linked. Transfers can be initiated once the account is verified and approved.

For detailed steps, visit: How Do I Make a Transfer.

·        Personal account assistance: +1 800 680 0750

·        Business account assistance: +1 855 680 0745

·        Business account holders using the enhanced platform are assigned a dedicated account manager upon account setup and can contact them directly

• Buying and selling property cross-border
• Paying tuition overseas
• Snowbirds living across the border or overseas part of the year
• Sending money overseas to loved ones

Canadian customers can settle transfers using the following methods:

1.     Online Bill Payment:

o   Log in to Prospera online banking, locate the bill pay service, and add "Canadian Forex" as a payee.

o   Send the settlement amount via bill payment (limit: $250,000 per transaction). Multiple payments can be made if necessary.

2.     EFT/Direct Debit (PAD):

o   Log in to the OFX account, add the CAD or USD account, and complete verification by confirming small deposit amounts sent by OFX with an OFXpert over the phone.

Note: When setting up EFT/Direct Debit/PAD, Prospera Credit Union in Canada is not listed in the PLAID system. Accounts can be connected through the online form provided in the PLAID process or by contacting OFX for manual setup assistance.

3.     Domestic Wire Transfer:

o   Visit a Prospera branch and speak with an advisor to initiate a wire transfer to the account details provided by OFX under the “OFX Bank Details” tab.

o   This method is recommended for amounts exceeding OFX limits for Personal ($50,000) or Business Banking members ($500,000). In many instances there is a cost saving given the competitive exchange rate OFX offers over banking institutions.

For assistance with any of the above options contact OFX:

·        Personal accounts: +1 800 680 0750

·        Business accounts: +1 855 680 0745

Delivery times vary based on settlement method and destination.

·        Standard transfers take 1-2 business days after OFX receives cleared funds via EFT/Direct Debit, Bill Payment, or Wire Transfer.

More details are available here: How Long Does a Money Transfer Take?.

Transfer limits depend on the settlement method:

·        EFT/Direct Debit:

o   Personal Banking: $25,000 for the first transfer; $50,000 for subsequent transfers.

o   Business Banking: $100,000 for the first transfer; $500,000 for subsequent transfers.

·        Domestic Wire Transfer: No limits apply, but bank fees may be charged.

·        Online Bill Payment: Prospera members have a $250,000 limit per transaction.

Partial payments are accepted for larger transactions but must be communicated to OFX when booking the transfer.

A recipient can be added during the second step of the transfer process or through the “Recipients” tab on the OFX account homepage. Ensure all details are accurate before saving.

Learn more here: How to Add or Edit a Recipient.

OFX supports transfers in 50+ currencies to 170+ countries. 

For a complete list of currencies and destinations, visit: OFX Supported Currencies and Countries.