Multi-currency account

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 25+ 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 25+ currencies. Your customers can also pay into any of these accounts. Four of these accounts (GBP, EUR, USD, and CAD) also allow you to hold local bank details for your convenience.