City Forex (CF) was incorporated in Hong Kong in 1996 and since its inception CF has branched out in Australia, Fiji and New Zealand.

In Australia, CF opened its first branch in Town Hall Station Sydney in 1999, just in time for the 2000 Sydney Olympics.

CF Australia started business as a Western Union Network agent providing Western Union service namely send and receive money and currency exchange. During the last 10 years, CF has grown with the addition of four branches and a network of over 200 subagents Australia wide.

The Western Union money transfer product which is a cash to cash service was well accepted as a means to support loved ones left behind by the ever growing migrant population in Australia. The growth of the remittance market in Australia led the company to think in terms of serving the ever growing demand of the market by giving the customer a second option. With this in mind in 2009, CF Australia introduced the Telegraphic Transfer (TT) service to cater to the needs of those customers who preferred remitting to a bank account. The TT product in 1999 was mainly transacted using SWIFT (Society for Worldwide Interbank Financial Telecommunication) codes. In the last five years with the overhaul of the banking system in most countries, modern technologies and the internet has made it fast and easy to transfer money to bank accounts to most countries across the globe.

In the last two years our TT product has become very popular with both the individual and business community. To cater to this vast customer base, we at CF felt the need to provide to the customer a more friendly easy to use, from the comfort of the home, product and hence we introduced the CityRemit money transfer portal.