Is OFX available for business in India?

Does OFX serve business customers in India?

Not for an India registered business. OFX is an Australia founded global payments company that runs international transfers and a Global Business Account for clients in its regulated markets, which include Australia, New Zealand, the United Kingdom, the United States, Canada, Hong Kong, Singapore and the European Union. OFX is not regulated by the Reserve Bank of India and does not operate an Indian entity, so a company registered only in India cannot open an OFX account. OFX does support India as a destination, converting and paying out Indian rupee to local bank accounts for senders located in its served markets. As of 18 October 2025.

Eligibility for businesses in India

To hold an OFX account a business must be registered in one of OFX served markets and pass KYC and KYB, often providing a business registration number, ownership details and identification. A company registered only in India does not meet the residency and licensing requirements and cannot open an OFX account. An Indian group with an entity in a served market, such as Singapore, may apply through that entity instead. Verify with the provider

What it costs locally

There is no India account pricing because OFX does not onboard India registered businesses. For inbound transfers to India, OFX typically advertises no fixed transfer fee on many routes and earns from the exchange rate margin, and company related payments to India are subject to per transaction limits set by the receiving rails. As of 18 October 2025. As of 18 October 2025

What local users report

Indian exporters most often encounter OFX as the service an overseas customer uses to pay them, with funds arriving in their Indian bank account in rupee. For collecting from abroad as an Indian business in their own name, users generally turn to providers that onboard Indian entities, since OFX itself does not open accounts for India registered companies.