Multi-currency accounts

Is the OFX Business Account a bank account?

The OFX Global 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 receive, manage, pay and spend in 30+ currencies by opening multiple currency accounts within our platform.

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 Global Business Account, you’ve the ability to create multi-currency accounts in 30+ currencies. Your customers can also pay into any of these accounts. Four of these accounts (CAD, USD, GBP and EUR) also allow you to hold local bank details for your convenience. Here is a full list of our supported currencies