Your Global Currency Account for Business
Don’t change the way you do business. Change the way you get paid.
What is the OFX Global Currency Account?
A multi-currency account that lets you pay and get paid in the foreign currencies you do business in.
Open local currency accounts and collect funds from payment gateways, marketplaces or directly from your customers just like you’re a local.
What are the benefits?
Local currency accounts
Open local currency accounts in USD, EUR, GBP, CAD, AUD, SGD, HKD and JPY, and view all accounts and transactions in a single dashboard.
Get paid like a local
Get paid directly into your local currency account from third parties, or connect to payment gateways like Afterpay, or marketplaces like Amazon to collect funds locally.
Make payments
Use your local currency accounts to pay taxes and suppliers in foreign currency and avoid unnecessary conversion fees.
Great rates
Keep foreign currency in your account for as long as you need to. And when you decide to move your money, use OFX to get great rates on your transfer.
Automate payments
Save time by setting up automated payments when you need to send funds to suppliers, staff, or subscription services.
Xero integration
Integrate with Xero to invoice foreign currencies directly and sync all of your transactions. Keep your usual workflow flowing.
Need to talk to an OFXpert?
With offices around the world, our business day follows the sun.
You can always speak to us, day or night.
Accept payments locally in multiple currencies
Once you’re all set up, we’ll provide you with all the details needed to start getting paid like a local.
🇬🇧 British Pound
Get your own Account Number and Sort Code
🇪🇺 Euro
Get your own IBAN and SWIFT/BIC
🇺🇸 US Dollar
Get your own Account Number, Routing Number (ABA) and SWIFT/BIC
🇨🇦 Canadian Dollar
Get your own Account Number, Bank Code, Transit Code and Branch Number
🇦🇺 Australian Dollar
Get your own Account Number and BSB
🇭🇰 Hong Kong Dollar
Get your own Account Number, Bank Code and Branch Code
🇸🇬 Singapore Dollar
Get your own Account Number and SWIFT/BIC
🇯🇵 Japanese Yen
Get your own Account Name (in local language), Account number, Account type, Bank Code and Branch Code.
Start receiving funds with no setup, monthly or ongoing fees.
| Setup Fee | $0 |
| Monthly Fee | $0 |
| Receiving Fee | $0 |
| New Currency Fee | $0 |
| Xero Integration Fee | $0 |
Receive marketplace and gateway payments by connecting your account:
Amazon Payment Services Provider Program
You may have seen an announcement from Amazon about a new Payment Service Provider Program, designed to protect customers and sellers from fraud and abuse.
We’re pleased to share that we are now a participating member so you can rest easy and continue to use OFX for all your Amazon store sales.
Setting up a Global Currency Account
- Register for an OFX Business account online in only a few minutes.
- We’ll call you: An OFXpert will give you a call to help you set up and verify your account.
- Verification: To verify your account, we will request some documentation. During the call, we will tell you which documents we require.
- Confirmation: Your local currency account details will be available online in your Global Currency Account dashboard and we’ll also send them via email.
Existing OFX customer?
Give one of our OFXperts a call and ask to set up a Global Currency Account account for your business. We’re open day and night.
Got questions?
Speak to an OFXpert or email our corporate team to lock in time that suits you. Otherwise, here are a few of our frequently asked questions:
Our receiving accounts accept payments from some of the world’s largest online marketplaces like Amazon, eBay, PriceMinister.com, Newegg, Buy.com, Game, Wish.com, CDiscount.com, Rue du Commerce and Shop.com.
Once you have received your receiving account details by email, upload or send these details to the marketplace. Once you have done this, you can transfer:
- Initiate payment: From your marketplace account, send the money to your new OFX receiving account. Delivery times may differ by marketplace and the foreign currency you are sending. Amazon sellers will usually find it takes 2-4 business days for the funds to appear in the receiving account.
- Once you have initiated payment of the foreign currency from your marketplace account to your OFX receiving account, log into your OFX account online and book the transfer with us.
- As soon as the funds appear in your receiving account, you will be notified by email. They foreign currency will then be automatically forwarded to your designated home bank account.
If you want greater flexibility over when the foreign currency is sent from your receiving account to your domestic account, please let us known during the set up process or afterwards. You can contact us 24/7.
There is no minimum amount of time you need to hold an OFX account for. If you no longer wish to use your OFX account, please email us at customer.service@ofx.com, with your account details.
We reserve the right to close accounts which are inactive. If this does happen, we will contact you by email.
Creating an account can be done in 3 simple steps:
- Register: click ‘Register’ in the top right corner and fill in your details. There are no setup fees or monthly account fees.
- We’ll call you: After you have registered for an account, we will call you to complete the registration. We will ask you some basic questions including which currencies you want to receive funds from.
- Verification & Global Currency Account Opening: To verify your account, we will request some documentation. During the call, we will tell you which documents we require and direct you to our Secure Site to send them directly to the relevant team.
Please note, OFX accounts are normally approved within 4 business days. Following this, your local currency account details should be delivered within 2 business days.
After logging into your OFX Account, click on “Recipients” and select “Add New Recipients”. From here you can add the details for your domestic bank account. The account that the funds are delivered to must be in your name. Watch our short OFXpert guide for more.
Yes! You can pay your vendors, suppliers, or taxes in multiple currencies at your preferred rate before bringing your profits home. Watch our short OFXpert guide for instruction on how to make local and international payments.
At OFX, we don’t charge setup fees or monthly account fees. When you make a transfer with us, we take a small percentage to cover our cost, but this is usually less than what an online marketplace would charge for cross-border payments. With us, there are no outgoing fees in transferring the funds to your home bank account, whereas other providers may charge a fee. Occasionally, third-party banks may deduct a fee from your transfer before paying your recipient bank account. This fee may vary and OFX receives no portion of it.