Is OFX available for business in Australia?

Availability

OFX for business in Australia: Available

Key eligibility: An Australian registered business with an Australian Business Number, whose directors and beneficial owners can complete identity checks. OFX is an Australian founded provider regulated by ASIC.
Non resident position: OFX serves businesses in many countries, and overseas owned Australian businesses can apply; non resident or foreign owned structures should confirm eligibility directly with OFX.
Local currency support: Australian dollar plus more than 30 currencies, with local account details available in AUD, GBP, EUR, USD and CAD.
Headline monthly fee: No monthly account fee; the main cost is the currency conversion margin, roughly 0.4 to 1.5 percent depending on volume and currency.

Availability and fees as of 14 June 2026Last reviewed 14 June 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

Yes. As of 14 June 2026, OFX offers its Global Business Account to Australian businesses and is regulated in Australia by ASIC. It is a multi currency and international payments platform rather than a deposit taking bank, so it suits businesses that send, receive and hold foreign currency.

Does OFX serve business customers in Australia?

OFX is an Australian founded financial platform regulated locally by ASIC. Its Global Business Account lets an Australian business hold, send, receive and convert more than 30 currencies, with local account details in several major currencies. It is built for international trade, payroll and supplier payments rather than for everyday domestic transaction banking, so many businesses pair it with a local bank account.

Eligibility for businesses in Australia

OFX onboards Australian registered businesses that can provide an Australian Business Number, business registration documents and identity verification for directors and beneficial owners. Applications are completed online and identity checks are typically processed within a few business days. Verify with the provider

What it costs locally

The Global Business Account has no monthly account fee. OFX earns mainly through the currency conversion margin, which it describes as around 0.4 to 1.5 percent and lower than the 2 to 4 percent typical at major banks. Some payment types and card use may carry their own fees, so confirm the current schedule with OFX. As of 14 June 2026

What local users report

Australian exporters, importers and online sellers use OFX for cross border payments and to hold foreign currency, and report competitive conversion rates and integrations with accounting tools such as Xero and QuickBooks. Because it is not a full transaction bank, users typically keep a domestic bank account alongside it.

How to open OFX for business in Australia

Confirm your active Australian Business Number and gather business registration and identity documents for directors and beneficial owners.
Apply online for the OFX Global Business Account and complete the identity checks, usually processed within a few business days.
Once approved, activate your account, set up local currency account details and begin sending, receiving and converting funds.