OFX
One financial platform for your business: multi-currency accounts, FX, corporate cards and spend management in one place.
By OFX · HQ Sydney, Australia · 4.0/5 Value-Position score (estimate)
Positioning guardrails
Best for
- Mid-market and growing businesses that pay suppliers or get paid in several currencies
- Finance teams that want FX, corporate cards, spend management and AP automation on one platform
- Multi-entity companies needing a single login and consolidated spend visibility across entities
- Firms already running QuickBooks Online or Xero that want bank feeds and 2-way bill sync
- Businesses sending high volumes of cross-border payments to 170+ countries
Ideal size: 5–250 employees people · Cross-border business with a finance or ops function already on a cloud accounting stack
Not for
- Domestic single-currency businesses with no cross-border flows
- Companies looking for a full-service bank; the Global Business Account is a virtual account, not a bank account
- Teams wanting an all-in-one ERP, inventory or accounting system rather than a payments and spend layer
- Businesses that need ATM cash withdrawals on corporate cards
- Buyers requiring deep native ERP integrations (SAP, Oracle) today
Value metrics scorecard
Time-to-Value
1–2 weeks
~14 days to first production value
Total Cost of Ownership
$2,100/yr
Starts at $0 · Per-user subscription: Standard free, Full Suite $75/month including 5 users then $10/user/month, Custom for 50+ users or high volume, plus per-transaction payment fees and FX margins.
Implementation Friction
2/5
Engineering + admin effort required
Value-Position score
out of 5 · model estimate
Full cost breakdown
Mandatory implementation fee
None
Seat tiers
Full Suite includes 5 users, then $10 per user per month; Custom plan for businesses over 50 users.
Add-on costs
- Cross-border SWIFT payment fee $20 per transaction (waived for Standard and Full Suite clients from 12 May 2026)
- Fedwire $5 per transaction; domestic USD ACH: 20 included per month on Standard, 50 on Full Suite, then $0.50 each
- Card-funded bill payments: 2.9% service fee on domestic Visa/Mastercard, 3.4% on international
- FX margin of 1.5% on international card payments; $5 to receive international wires (currently waived)
Company & support
Who is behind OFX, and how your team gets help once it is live.
Company
- Founded
- Not recorded
- Headquarters
- Sydney, Australia
How you get support
- PhoneAll plans
- EmailAll plans
- Live chatAll plans
- Support portal / ticketsNot listed
- Community forumNot listed
- Help centre / docsAll plans
- Dedicated account managerPaid plans
- In person / on-siteNot listed
- Hours
- 24/7
- Response time
- Not stated
Vendor pages state 24/7 service with real human support via phone, email and online chat on all plans, including the free Standard plan; Full Suite adds a dedicated account manager and Custom adds dedicated onboarding support.
“Not listed” means the vendor’s public pages don’t mention that channel, not that it is unavailable. Ask about it during evaluation.
Market position
Where OFX sits against its closest alternatives. Pick any two of cost, speed, friction and buyer score, and up to 9 companies to compare.
Quadrant view
Typical annual cost × Time-to-value
The lines cross at the median of the solutions shown, so about half sit on each side of each line.
Companies on the chart 6 / 10
- OFX
- Xero
- Hex
- BrowserStack
- Dust
- Shipping Solutions
Add or change companies
Up to 10 companies including OFX. Listed closest first.
Stack fit signal
Compatibility with standard B2B ecosystems.
No supported MCP path today, so it cannot be driven from an AI client.
AI & MCP readiness
What OFX ships in AI, and what it asks of your ecosystem.
AI features shipped
Sources describe AI inside spend and AP workflows: AI-driven and OCR capture of receipts, invoices and bills, automated coding and approval routing, and built-in AI review that flags errors and duplicate payments before they happen, plus AI suggestions for new automations. No source names a general assistant, an underlying model or provider, or per-action AI logging.
Your data & models
- Trains on your data
- Not recorded — ask the vendor
- Runs on
- Not recorded
- AI pricing
- Paid add-on
In your ecosystem
- AI connection
- Not supported
- Model key
- Not recorded
- AI usage audit
- Not recorded
Compliance attestations
* IAPP AIGP certifies individuals, not products. It means named staff hold the credential — not that the platform does.
Bottom line
OFX provides cross-border payments, FX and spend management for businesses: a Global Business Account, multi-currency accounts in 30+ currencies, corporate cards, and AP/bill automation with QuickBooks and Xero sync. Plans run from a free Standard tier to a $75/month Full Suite (5 users included, then $10 per user). Payments reach 170+ countries and support is 24/7 with real people. AI handles receipt and invoice capture and flags duplicate payments. Not a bank: the Global Business Account is a virtual account.
Frequently asked questions
How much does OFX Business cost?
Standard is free per user per month and covers the Global Business Account, multi-currency accounts, cards, payments and 24/7 support. Full Suite is $75 per month including 5 users, then $10 per user per month, and adds spend management, AP and bill automation with approvals. Custom pricing applies for multi-entity or high-volume businesses needing over 50 users; transaction fees (for example $20 per cross-border SWIFT payment) still apply.
Is the OFX Global Business Account a bank account?
No. OFX states that the Global Business Account is a virtual business account that lets you hold funds in different currencies and make and receive payments; it is not a bank account. You can hold 30+ currency accounts, with local account details in USD, CAD, GBP and EUR, and customers can pay in via international transfers such as SWIFT.
Which systems does OFX integrate with?
OFX has a direct integration with QuickBooks Online and Xero, including bank feeds and 1-way or 2-way sync of bills, payments and card transactions, and it supports CSV import/export to ERP systems. The vendor says more integrations are in development.
How long does it take to get started?
OFX describes a self-serve path: register for free, submit documentation to verify your business, be contacted by its onboarding specialists, then fund accounts, invite users and start transacting. There is a 30-day free trial of the Full Suite plan and a free Standard plan, so a team can typically begin transacting within one to two weeks depending on verification.
Does OFX offer 24/7 support?
Yes. OFX states that clients can call or email anytime and that, with offices in nine countries, a real human specialist is available 24/7. Real-human support via phone, email and online chat is listed on all plans including free Standard, while Full Suite and Custom add a dedicated account manager and dedicated onboarding support.
Can OFX help us manage currency risk?
Yes. OFX offers instant spot conversions at market rates, limit orders and forward contracts so businesses can lock in rates, and Custom plans include volume-based tailored FX pricing. Case studies such as FIREX and Produce Buyers describe using forward contracts to reduce exposure to volatile currency movements.