The new OFX Australia Business Platform FAQs
From your login details to transaction history, find all the answers you need to navigate
the new business platform with confidence.
Explore the FAQs :
New features
Questions about the added functionality and enhancements available in the new business platform.
Can I still use the old mobile app?
Our new and improved business platform also comes with a new business mobile app. As such, the old mobile app will no longer be applicable after the upgrade. Download the new OFX Business AU mobile app from the Apple App store or Google Play store so you’re ready to go when you have access to the new business platform.
How do I download the new mobile app?
You can download the new and improved OFX Business AU app from the Apple App store or Google Play store.
Does the new platform work like a bank account?
No, it is not a bank account. It is a virtual business transaction account, which gives you the ability to create and manage 30+ currency accounts to make payments.
What features does the Global Account offer for managing multiple currencies in my business account?
Your OFX Global Account, a multi-currency account within the platform allows you to receive, hold and transfer funds. You have the ability to create and manage 30+ currency accounts, with local bank details for AUD, USD, GBP, EUR and CAD. Simply pay into the relevant currency account using the unique Account Credentials we provide you. For the AUD account we’ll set up for you, you’ll receive a BSB and account number.
How can I use the currency accounts to manage my international payments?
Our currency accounts make managing international payments and collections more efficient.
When you first log in, your AUD currency account will already be set up as the default and ready to use. In total, you can create and manage 30+ currency accounts, with local bank details for AUD, USD, GBP, EUR and CAD, for faster and and more seamless global transactions.
Three things you can do:
Make payments: Need to pay your supplier in China? Use your multi-currency account to send payments directly in their local currency (e.g., CNY).
Receive payments: As an example, receive USD directly from your supplier into your USD account.
Hold and manage: Keep funds in their original currencies to avoid conversion fees until you’re ready to use them, or wait for a favourable exchange rate before converting. For example, you might hold USD to pay a supplier next month or wait for favourable exchange rates before converting the USD to AUD.
Can I create an account in another currency?
Yes, there are 30+ currency accounts available to you.
- This is great if you are looking to:
- Convert funds at any point and hold in a currency.
- Receive funds: For example, if you have customers that pay you in USD, you can have them pay into your USD currency account using the account details provided.
Each currency account has its own account details that you can pay into or provide a customer to pay into.
Log in to your account and go to ‘Accounts’ in the left-hand menu to view all your accounts. You can also easily see your accounts in the homepage dashboard.
What are the available methods for transferring funds into my OFX Business Account?
There are three ways to send funds into your OFX Business Account.
- Electronic Fund Transfer (EFT) from your existing bank account
- Set up a direct debit from your existing bank account
- Load funds from your existing rewards credit card to earn points
Can I create a payment before I send my funds?
Yes. You now have two options to make a payment.
- Pre-fund your account: Send funds to your account ahead of time so you can view your balances in your account and make payments instantly when you need without any delay.
- Flexibility to pay after securing a quote: If you don’t have sufficient funds to make the payment, you can guarantee your FX rate and you’ll then have up to two business days to deposit your funds. Your payment will appear in the ‘Awaiting Funds’ section under the ‘Payments’ tab. Tip: If you’re funding by direct debit, please allow extra processing time.
Can I make domestic payments?
Yes, your new business account does more than FX – you can now pay domestic suppliers or employees too.
How will moving to the ‘Business’ plan impact my current account?
The new business platform includes subscription plans. You’ll be moved to the ‘Business’ plan, which includes a $0 subscription fee for up to three users, and competitive FX rates that you’ve come to expect with OFX.
Once you’re set up and comfortable with the new platform, you can always choose to upgrade to our Business Plus plan to access additional features, such as payment approvals, expense management, receipt capturing and employee reimbursements whenever you need.
Can I try the Business Plus plan for free?
Yes, you can try the Business Plus plan for 30 days free, whenever it suits you.
- Log in to the online platform
- Navigate to any of the sections under ‘Business Plus’ in the left-hand menu
- You will see a prompt to ‘Upgrade plan (30-day free trial)’
Note: At the end of the free trial, your plan will automatically roll-over into the standard monthly billing cycle using the payment method on your account. You can cancel anytime before the trial ends by reaching out to us at business@ofx.com
How-to guides
Step-by-step instructions to help you complete essential tasks on the new business platform.
Managing recipients (add, update or remove)
For detailed step-by-step instructions, explore the relevant articles below in our Knowledge Hub.
Tip: Your business account does more than just FX – you can now pay domestic suppliers too.
Funding your global account (AUD)
You can now fund and make FX payments directly from your OFX Global Account, a multi-currency account that allows you to receive, hold and transfer funds. We’ll set up your AUD account, and provide the BSB and account number in the platform.
Depositing funds into your business account is easy, with options to fund your account by bank transfer, card payment and direct debit.
Tip: Once you have access to the new platform, please use your new AUD account to fund payments for a seamless process, as payments to the old account may take longer to process.
For detailed step-by-step instructions, explore the relevant articles below in our Knowledge Hub.
Making a payment
To make a payment, you’ll need to first fund your OFX Global Account. Once that’s done, simply navigate to Payments from the sidebar menu in the platform dashboard.
For detailed step-by-step instructions, explore the relevant articles below in our Knowledge Hub.
Tip: Once you have access to the new platform, please use your new AUD account to fund payments for a seamless process, as payments to the old account may take longer to process.
Account information
Questions about the platform upgrade, including updates to legal documents and how to prepare.
Do I still log in the same way?
Once you have access to the new and improved business platform, you can continue to log in via our secure website. Please use your email address as your username after your first login on the new business platform. Your password and multi-factor authentication will stay the same to keep your account secure.
Do I have to do anything different to access my account?
No, you won’t need to do anything differently once you have access to the new and improved business platform. Continue logging in via our secure website. You’ll just need to use your email address as your username after your first login. Your password and multi-factor authentication will stay the same to ensure maximum security.
Tip: If you use a password manager, be sure to update it with your new login details once your business account is upgraded to keep everything up to date.
Will my recipients be available on the new platform?
Yes. Recipients you’ve used in the last two years, and those you’ve added or updated in the last year will be available as ‘recipients’ in the new business platform.
Can I still send my payments to OFX?
You can now fund FX payments directly from your OFX Global Account, a multi-currency account that allows you to receive, hold and transfer funds. Simply pay into the relevant currency account using the unique Account Credentials we provide you. For the AUD account we’ll set up for you, you’ll receive a BSB and account number.
See step-by-step instructions on how to make a payment
Tip: Once you have access to the new business platform, we recommend removing OFX as a payer or biller in your bank account and saving your new AUD currency account details.
General information
Questions about the platform upgrade, including changes to legal documents and how to prepare.
What should I do first?
We recommend exploring the new business platform! When you log in, you can use our progress checklist and take our ‘Take a Tour’ option to get familiar with using the platform and your new business account.
What will I see first when I log in?
When you first log in, you’ll land on the Dashboard page, where you can easily access key features like getting a quote and viewing your account balance. You’ll also find a progress checklist and a ‘Take a Tour’ option to help you explore the layout and discover new features with ease.
Support and resources
Questions about where to find our step-by-step guides, more information, and help from our OFXperts.
What do I do if I have any problems once I’ve sent the payment (eg. my supplier hasn’t received the payment)?
You’ll be notified by email if there are any issues with your payment. If you need help, our team is also here to support you, 24/7. Reach out to us by phone or email: business@ofx.com
Will I still have access to the same human support?
- Yes, our dedicated OFXpert team is still here to help 24/7, providing the same service you know and trust. You can contact us via phone or email as you’ve always done.
- Once you have access to the new business platform, you’ll also be able to explore our Knowledge Hub from within your account for step-by-step instructions on how to navigate and use it.
If I have any questions, where can I go for help?
- As always, our OFXperts are here to support you 24/7. You can contact us by phone or email as usual, or register for a live webinar lead by our OFXperts to ask questions about the new platform.
- Plus, you can access our Knowledge Base within your account for step-by-step instructions to help you use the platform. Please click from the Help section on the bottom left of our platform after you log in.
We’re here to help
You can contact us anytime or join our OFXperts for a live webinar to ask questions about the new business platform to help you navigate it with confidence.
