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How can I make international payments or receive foreign currencies for my business?

You can make international payments or receive foreign currencies through a virtual global business transaction account.

With the OFX Global Business Account, you have the ability to create and manage multiple currency accounts, where your customers can pay into any of these currency accounts.

Four of the currency accounts (CAD, USD, GBP and EUR) allow you to hold local bank details, so you can pay and receive like a local.

How do businesses use OFX’s foreign exchange solutions?

How can my business benefit from OFX?

  • Open multi-currency accounts to grow with your business.
  • Receive and make payments in up to 30+ currencies or from 180+ countries

Our team of specialists are also available 24/7 to help you navigate the complexities of foreign exchange.

How many currencies can I manage with the OFX Global Business Account?

Is a Forward Contract right for me?

If your business deals with cross-border transactions, even on a smaller scale, fluctuating exchange rates can significantly impact your profit margins and financial planning. A Forward Contract allows you to lock in an exchange rate for future payments, providing certainty and stability. Setting up a Forward Contract is simpler than you might think, often requiring an initial deposit and basic documentation such as purchase orders or invoices.

By using a Forward Contract, you can help protect your bottom line from FX volatility, accurately budget your costs and revenues, and gain peace of mind knowing your financial risks are minimised. Some clients use a Forward Contract for a portion of their FX transfers, as a way to partially hedge against volatility and ensure they can take advantage of Spot rates as well. 

Can everyone set up a Forward Contract?