Snapshot
OFX and Wise Business compared on the points that usually decide a business account: account type, monthly fee, currency support, eligibility and where each one is available.
OFX figures as of 3 June 2026Wise Business figures as of 18 June 2026Last reviewed 25 June 2026
General information, not financial, legal, or tax advice. There is no single best account. The right fit depends on your business. Verify current terms and eligibility with each provider before applying.
OFX and Wise Business suit different businesses. Use the comparison below to weigh account type, fees, currency support and eligibility against how your company operates, then confirm the latest terms with each provider. Figures are shown as of 3 June 2026 for OFX and 18 June 2026 for Wise Business.
OFX vs Wise Business at a glance
| Feature | OFX | Wise Business |
|---|---|---|
| Account type | Global Business Account, a multi currency account with payments and corporate cards. OFX is a money transfer provider, not a bank, so balances are not bank deposits. | Electronic money account, not a traditional bank deposit account. Wise is an electronic money institution. |
| Who it suits | Businesses that make regular international payments and want multi currency accounts plus currency hedging tools. | Businesses that pay or get paid across borders and want low cost currency conversion and local account details in several currencies. |
| Monthly fee | Standard USD 0 per user, Full Suite USD 75 a month including five users then USD 10 per extra user, on the United States site as of 3 June 2026. | No monthly fee. A one time setup fee applies and varies by country, for example 50 pounds in the United Kingdom, 31 US dollars in the United States, 50 euros for European Economic Area businesses, 99 Singapore dollars in Singapore, and 65 Australian dollars in Australia. As of 18 June 2026. |
| Transaction fees | Cross border SWIFT payments cost USD 20 each and domestic wires USD 5 each on the United States site. Receiving international funds is USD 5, currently waived for Standard and Full Suite from 12 May 2026. As of 3 June 2026. | Transfers and conversions are charged a usage based fee that varies by currency and route. Receiving in some currencies is free while others carry a small fee. As of 18 June 2026. Verify current pricing with Wise. |
| FX fees | Currency conversion is priced into the exchange rate. International card payments carry a 1.5 percent FX margin, while corporate card foreign transaction fees are USD 0, as of 3 June 2026. | Conversion uses the mid market rate plus a published fee that varies by currency pair, often a fraction of a percent. As of 18 June 2026. Verify the current rate for your pair with Wise. |
| Minimum deposit | None stated. | No minimum opening deposit is published. A one time setup fee applies. Verify with Wise. |
| Multi currency | Yes. Hold more than 30 currencies, with local account details in US dollars, pounds, euros and Canadian dollars. | Yes. Hold and convert many currencies and receive with local account details in several markets. As of 18 June 2026. |
| Integrations | Two way sync with Xero and QuickBooks Online, plus batch payments and a business app, as of 3 June 2026. | Accounting integrations including Xero and QuickBooks, plus batch payments and an API. Verify current integrations with Wise. |
| Eligibility | OFX serves registered businesses in the markets where it is licensed. Pricing and product details vary by country, so check the OFX site for your region. As of 3 June 2026. | Registered businesses in supported markets. Feature availability and supported entity types vary by country. Verify eligibility with Wise. |
| Broadly available in | Regulated in markets including Australia, New Zealand, Singapore, Hong Kong, the United Kingdom, the European Union, the United States and Canada, as of 3 June 2026. | Many markets including the United Kingdom, the United States, the European Economic Area, Australia, New Zealand, Japan, and Singapore. Feature availability varies by country. As of 18 June 2026. |
Use the table to weigh the differences. OFX and Wise Business tend to differ most on account type and currency support, so match those to how your business moves money, then confirm the latest fees and eligibility with each provider.
Open a business account
Both providers accept business customers in their supported markets. Fees and eligibility shown as of 3 June 2026 for OFX and 18 June 2026 for Wise Business. Confirm current terms with the provider before applying.
Visit OFX → Visit Wise Business →Questions about OFX and Wise Business
Which is better for my business, OFX or Wise Business?
It depends on your needs. The table on this page compares OFX and Wise Business on account type, fees, currency support, eligibility and availability using each provider's published terms. Weigh those against how your business operates, then confirm current terms with each provider. This is information, not advice.
Can I open both OFX and Wise Business?
Often yes, subject to each provider's eligibility rules. Some businesses keep more than one account, for example one for everyday banking and another for currency conversion. Check eligibility with each provider before applying.
Are the fees on this page current?
Each figure is shown with the date it was recorded. OFX figures are shown as of 3 June 2026 and Wise Business figures as of 18 June 2026. Fees and eligibility change, so confirm current terms with each provider before you apply.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 25 June 2026. Confirm current terms with each provider before applying.