Open a multi-currency business account to make global payments easy
Manage all your currencies in one place. Pay and receive funds from clients domestically or internationally. Quickly transfer between your currency accounts at great FX rates.
Quick and easy access to 30+ currencies
Operate in the markets that matter to you as though it was your local market. Hold, pay and receive money in 30+ currencies and get local bank details for 5 major international currencies: AUD, USD, EUR, CAD, GBP.
Manage payments in multiple currencies from one platform
Win back the minutes in your day by managing your multi-currency transactions in one place to gain a better oversight of your spending and balances. No more working across different platforms.
Skip the long bank queues and avoid the cost and effort of opening a business bank account, especially if you don’t have a “brick and mortar” office in that country.
Open multi-currency accounts with local bank details in 5 major currencies
 Account number BSB |  Account number ACH routing number |  Account number Routing number |  Account number Sort code |  IBAN BIC/SWIFT |
Save money when receiving payments from around the world
Are you losing money on international transaction fees? Convert your international revenue to your home currency and save your hard-earned profits.
With access to local bank details in AUD, USD, CAD, GBP and EUR, get paid or receive funds in the markets you operate with no international transaction fees and competitive rates.
Save time by paying bills and invoices directly from your currency accounts
Pay local and international bills and invoices directly from your OFX Business Account to save time converting currencies and reduce your incurred FX costs with our competitive rates.
Convert the funds when the rates are in your favour. Hold them until you need to pay your bills and invoices.
Boost business efficiency with smart automation
Free up your admin time so you can focus on things that matter most to you. Our Accounts Payable Automation tools available in the OFX Business Plus plan reduce manual data entry with built-in Optical Character Recognition (OCR) for invoice data capture.
Our AP Automation system also enables you to combine payments to save time and keep everything in your accounting books updated as you go.
Transform your multi-currency financial management with an OFX Business Account
Benefits of your multi-currency business accounts
- Hold funds and convert currencies when the rates are in your favour
- Make instant transfers between your multi-currency accounts at great FX rates
- Pay your invoices, taxes, bills and receive payments in one dashboard
- Reconcile bank feeds in your OFX Business Account with your accounting software
- No set up costs, account-keeping fees or monthly fees with the free OFX Business plan
- ️Set spend limits control and visibility of your business expenses with Corporate Cards
How to create your multi-currency business accounts
1. Start your OFX Business registration online
Click on the link above and fill in your details. Complete the identity verification steps as prompted. There are no setup fees or monthly account fees in the free OFX Business plan.
2. Identify verification
After you have registered for an account, we’ll review your application quickly. Our OFX team will get in touch and ask some verification questions to complete the registration.
3. We’ll get in touch
As part of our compliance with regulatory obligations, additional supporting verification documents may need to be provided, such as proof of identity and proof of address.
How PlasmaLeap saved thousands on their international payments with OFX
Learn how PlasmaLeap, a growing global business, streamlined their financial processes and saved thousands on their international bills and payments.
Significant cost savings on FX transactions
Nick Bishop, PlasmaLeap CFO
FAQs
Is the OFX Business Account a bank account?
The OFX Business Account is not a bank account. It is a virtual global business transaction account and a non-cash payment facility. The account enables you to hold funds, pay and convert in different currencies and manage multi-currency accounts.
My bank offers a multi-currency account, what’s the difference?
Your bank’s multi-currency accounts may not be issued in the country of the currency, e.g. a USD account issued in the US.
Using accounts held in the local country means you can enjoy the benefits of being able to spend and pay like a local in domestic currency with no international transaction fees.
How many currencies can I manage with the OFX Business Account?
With the OFX Business Account, you’ve the ability to create multi-currency accounts in 30+ currencies. Your customers can also pay into any of these accounts. Five of these accounts (CAD, AUD, GBP, EUR and USD) allow you to hold local bank details for your convenience.
What are the fees?
When you create a business account under the OFX Business plan, which is free for up to three users, there are no fees involved. There are $0 receiving fees, $0 setup fees and $0 account fees.
We charge a margin on the exchange rate for FX transfers, and for same currency transfers we charge either a flat fee or a percentage of the value.
Transfers from your OFX Business Account (your multi-currency accounts) to a recipient bank account may be subject to additional fees depending on currency pair and transfer size.
Occasionally, third-party intermediary banks may deduct a fee from your transfer before paying your recipient. This fee may vary, and OFX receives no portion of it. For more information, see our pricing plans.
How long does it take to open a business account with OFX and receive my local currency account details?
OFX Business Accounts are typically approved within 4 business days. Once your business account has been approved, you’ll be able to open your local currency account details within seconds.
Can I open a multi-currency account with OFX for my personal use?
Our OFX Business Accounts are only for business clients.
Want to learn more?
Gain more control and time with streamlined processes – all from a single platform. Get started for free with a Business plan. Or enjoy more features in our paid Business Plus plan with a 30-day free trial.
