Virtual Card
Instant virtual cards. Total spend control.
Give your team the freedom to spend wisely with instant virtual cards tailored to specific budgets. Set spending limits, streamline approvals, and stay in control, no more overspending.
What are virtual cards?
Similar to traditional bank cards, virtual cards also have a 16-digit card number, CVV security code and expiry date.
Expense management made easy with the OFX Virtual Card.
Goodbye chasing receipts. Hello real-time visibility. AI scans, verifies, and categorises bills and invoices automatically with our in-app receipt capture. Further, map expense data to the right spend categories and submit for approval through built-in workflows.
Eliminate card sharing.
No more sharing cards across teams. There’s no limit to corporate cards — issue individual virtual cards to track project budgets, subscriptions or recurring costs. If an employee leaves you can cancel in an instant. With the ability to set spend controls right down to merchant categories, you can control spend before it happens.
Client love us. Here’s why.
PlasmaLeap CFO, Nick Bishop
Real uplift in productivity
“Previously, reconciliation was a bottleneck, but now with virtual cards and automated processes, we’ve seen a real uplift in productivity. Staff can now manage their expenses seamlessly, which has been a game changer for us.”
Virtual cards for every type of business spend
Virtual Employee Cards
For individual employee purchases online or in person.
Give your employees the autonomy to spend as they need, without going over budget.
- Eliminate the need to share cards and risk unauthorised or fraudulent spend.
- Set tailored card spend limits, categories and merchant restrictions to stay in control while giving individuals the flexibility to make necessary purchases with guardrails.
Virtual Company Cards
For online business purchases such as software subscriptions, supplier payments and advertising expenses.
Get better oversight and more control of recurring business expenses.
- Create unique virtual cards to track each recurring expense — like Google ads, Meta and Xero, subscriptions or other bills.
- Lock or cancel the card anytime from your phone.
- Save time tracking, canceling and reissuing cards. When employees leave, simply cancel company cards they have access to.
More savings and control with easy virtual cards
Seamless local and global payments wherever you go
- Pay like a local and eliminate international transaction fees. Use your virtual card and spend like a local in SGD, USD, EUR, AUD, CAD, and GBP when you draw down from balances held in your account. Simply fund your account in the currencies you need.
- Competitive exchange rates
Travelling overseas? Use the OFX Virtual Card to make purchases in 30+ currencies with competitive exchange rates. - Simple and hassle-free payments.
Use the card in the OFX Business Platform and the OFX Business App to pay your suppliers or make online purchases.
Keep your payments secure with built-in protection.
- 2-step verification
We keep your account secure with 2-step verification to ensure only you have access to your card and funds. - Lock or cancel your card immediately
If you think your card has been compromised, you can lock it temporarily or cancel it permanently anytime. Our card fraud monitoring gives you an additional layer of control.
Creating your first virtual card
1. Open a Global Business Account
Access multiple currencies, enjoy competitive exchange rates, and issue cards to employees without visiting a bank. Create your OFX Global business account here.
2. Create a budget
This is the budget created for your card in your account. You can set single-use and/or recurring budgets and give specific team members access to this budget.
Pro-tip: You can also set individual spend limits and controls within each budget for different users and teams.
3. Invite a new user to your team
Invite a new user to your team and assign them a role and permissions. Employee cards for individual employees with spend limits. Company cards for subscriptions, bills and spend management.
4. Create your new card
You’re now all set to issue virtual cards to employees and create unlimited^ virtual company cards for your business subscriptions and other recurring expenses. No waiting or going to the banks.
Note: You’ll need money in your OFX Global Business Account to spend on the card.
^In line with our fair use policy.
Virtual cards FAQs
What are the benefits of using virtual cards for business spend?
Using virtual cards offers a range of benefits. With OFX virtual cards, you can streamline business expenses while offering control, security and global spending convenience.
- Enhanced oversight on employee expenses: Issue virtual cards to employees in seconds, making it easy to track and manage spending.
- Stronger spend controls: Set automated approval policies and spending limits to prevent overspending before it happens and ensure approval of spend.
- Global flexibility: Pay in over 30 currencies using funds held in your OFX Global Business Account, with local bank details in SGD, USD, EUR, AUD, CAD and GBP.
How can I get virtual cards for my business?
With an OFX Business Account, you can create and issue virtual cards in seconds once your account has been approved. You and your team can access the cards securely via the online Business Platform or the OFX Business app.
Can I get OFX virtual cards for free?
Yes, get unlimited^ virtual employee cards for free with an OFX Global Business Account. There are no extra or hidden fees to create virtual cards.
See all the features included on our pricing plans page.
^In line with our fair use policy.
Can I use the OFX virtual cards in another country?
Yes. You can use your virtual card internationally. Exchange, pay and hold 30+ currencies with the virtual card, by using funds held in these accounts with no cross-border transaction fees.
Create and issue Virtual Corporate Cards for better business
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