Is OFX available for business in Canada?

Availability

OFX for business in Canada: Available with limits

Key eligibility: Available to Canadian registered businesses. OFX runs a Canadian operation and registers with FINTRAC, and you provide business and owner identity details to open a Global Business Account.
Non resident position: Open to a business registered in Canada. OFX serves Canadian companies through its Canadian operation, subject to identity and compliance checks.
Local currency support: Canadian dollar supported, with local account details for the Canadian dollar, United States dollar, euro and British pound, plus holding and payments in 30 or more currencies.
Headline monthly fee: No monthly account fee advertised on the Global Business Account; OFX makes its money on the exchange rate margin applied to conversions.

Availability and fees as of 15 October 2025Last reviewed 15 October 2025

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

Yes, with limits. As of 15 October 2025, OFX serves business customers in Canada through its Canadian operation and offers a Global Business Account that holds and pays in many currencies. It is a non cash payment and money transfer facility rather than a deposit taking bank account, so it suits cross border payments rather than full day to day banking.

Does OFX serve business customers in Canada?

Yes. OFX operates a Canadian business and is registered with FINTRAC. Its Global Business Account lets a Canadian registered company collect, hold and pay in 30 or more currencies, with local account details for the Canadian dollar, United States dollar, euro and British pound. It is a payment and money transfer facility, not a deposit taking bank account, so it works alongside a Canadian bank account rather than replacing it.

Eligibility for businesses in Canada

OFX opens a Global Business Account for a business registered in Canada once it completes identity and business verification under Canadian rules. You supply business registration details and identification for the people who own and control the business. There is generally no minimum balance to register, though transfer minimums can apply. Verify with the provider

What it costs locally

OFX advertises no monthly account fee on the Global Business Account and earns its revenue through the exchange rate margin on currency conversions. Transfer minimums and the applicable rate are shown before you confirm a payment. Confirm the current margin and any payment fees with OFX before transacting. As of 15 October 2025

What local users report

Canadian businesses generally use OFX for international supplier payments and for collecting overseas revenue, rather than as a primary chequing account. Because it is a payments facility rather than a bank, users keep a Canadian bank account for cash, payroll and local needs.

How to open OFX for business in Canada

Go to the OFX Canada site and start a Global Business Account registration, choosing Canada as your country.
Enter your business registration details and provide identification for the owners and controllers for verification under Canadian rules.
Once verified, add your local account details and currencies, then fund a transfer to begin paying or collecting internationally.