Farmers buying used iron internationally by way of AgDealer are getting access to what’s billed as a lower-cost option to handle the currency exchange.
AgDealer, Canada’s largest used farm equipment shopper publication and online listing platform, announced a partnership Tuesday with OFX Group, an Australian-based online currency exchange provider.
Farmers, distributors and buyers outside of Canada “will have the opportunity to assist their equipment purchases found on AgDealer.com using the services of OFX currency exchange,” AgDealer publisher Glacier FarmMedia, the owner of this website, said in a release.
OFX offers currency conversion resources for farmers and equipment buyers “that are lower in cost compared to banks,” GFM said.
“We are excited to offer more resources for equipment buyers outside of Canada. By partnering with OFX, AgDealer.com users can quickly access easy to use and low-cost currency conversion through the click of a button,” Nathan Mitchell, GFM’s vice-president for listings, said in Tuesday’s release.
Cross-border shipments of used farm equipment are becoming more common, he said, “especially with the current U.S. and Canadian dollar exchange rates.”
Buyers worldwide using the AgDealer site will be able to make cross-border payments using any of more 55 currencies supported by OFX, Glacier said.
“With the fluctuations between the Canadian and U.S. dollar, the partnership between OFX and AgDealer gives farmers, dealers and distributors the ability to purchase farm equipment from Canada and save money on the exchange rate compared to using a bank,” Alfred Nader, OFX’s president for North America, said in the same release.