OFX Comparison: The global payment platform for your business
Save yourself time and money with a solution that can track your global expenses with multiple currency accounts and automate approval processes quickly – all in one platform.
Trusted by over 1 million clients worldwide
What to consider when choosing a global payment solution
- Do you need employee or company cards in different currencies?
- Do you need to make frequent batch payments in AUD and other currencies?
- Do you need a global business account to make domestic and international payments?
- Do you want to consolidate your business financial operation processes in one platform?
- Are you looking to automate approval workflows and enhance your expense controls?
- Are you experiencing reconciliation bottlenecks?
If your answer is ‘yes’ to most of the questions above, we could be the right fit for you.
Gain more control and time with the OFX Business Account.
See how OFX compares to Airwallex and Weel
| OFX | Airwallex | Weel | |
|---|---|---|---|
| Publicly listed on the Australian Securities Exchange (ASX) |  | No | No |
| Free plan with no minimum requirements | | No1 | No 2 |
| Employee and company corporate cards | | | |
| Global bank transfers | | | |
| Multi-currency Global Accounts | | | No4 |
| Xero integration | | | |
| Approval workflows | | | |
| Assign shared budgets for payment and expense control | | No5 | |
| Fund your account using a rewards based card | | No6 | No6 |
| Payroll payments | | | No7 |
| EmploymentHero payroll integration | | No8 | No8 |
| Global expense reimbursements | | | |
| Role based access control | | | No9 |
| Get a guaranteed FX rate for 2 business days | | No10 | No10 |
Disclaimer
The information is based on a review of online documentation conducted in August 2024, without access to test each item in the provider. The information is provided for educational and comparative purposes and reviewed every six months. If you would like to request a change, please email business@ofx.com. The information on this page does not take into account the investment objectives, financial situation and needs of any particular person. We make no recommendation as to the merits of any financial product referred to on this website. Please review our Product Disclosure Statement, Target Market Determination and Financial Services Guide prior to making a decision.
Why choose OFX for your global business needs?
Earn extra points
when you fund your OFX Business Account with your rewards credit card
Save time and boost efficiency
with easy reconciliation of bills, payments, travel expenses and employee purchases
Real-time visibility of your finances
with multi-layered approval workflows to different teams and individuals
Make thousands of batch payments
quickly and effortlessly in AUD or multiple currencies in one platform
Direct payroll integration
with Employment Hero reduces ABA files and bank-cut off times
Get a robust spend control
when you create shared or individual budgets and customise spending rules
No minimum requirements in our free plan
In our free OFX Business plan, there’s no minimum payment or balance amount for up to three users. We also don’t charge any upfront maintenance costs to hold your account.
Handle multiple currencies with our global business account
On top of an AUD account, you can create and manage 30+ currency accounts, with local bank details for USD, GBP, EUR and CAD.
Our global banking network moves your money efficiently through some of the fastest payment schemes available.
Assign users to share a budget and individual spend limits for better expense control
Prevent overspending by adding team members to share a budget, and individual spend limits for each team member so the budget is shared according to how you want it to be spent.
Lock in an exchange rate without paying upfront
If you don’t have sufficient funds to do the conversion in your account after locking in your FX rate, we give you two business days to deposit the funds in your account. This is available in both our free and paid plans.
Make hassle-free pay runs with Employment Hero integration
With our Employment Hero direct integration, you can pay thousands of staff in just minutes, and reduce manual bank transfers and data leak risks.
Get help when you need it at no extra cost
If you have a question or need support, there’s always an OFXpert to help you. You can call or email us, anytime. Whether you’re on our free or paid plan, you get 24/7 specialist support at no extra cost.
Whether you’re on our free or paid plan, you get 24/7 specialist support at no extra cost.
Ready to get started? Try the OFX Business Account for free.
What are our clients are saying about us
Nick Bishop, PlasmaLeap CFO
What are our clients are saying about us
Jonathon Allara, BikesOnline Co-founder
What are our clients are saying about us
Nick Bishop, PlasmaLeap CFO
Jonathon Allara, BikesOnline Co-founder
FAQs
What makes OFX different from other business payment solutions?
Regulated by ASIC and AUSTRAC, our platform allows companies, business owners, accountants and CFOs to achieve real-time control of their finances – reducing costs and saving time with easy-to-use solutions. And with 24/7 support, we’re always on hand to help. Learn more about what solutions you get with an OFX Business Account.
Can I get a demo of how OFX works?
Yes, you can. Get a personalised demo and learn how you can streamline your financial processes. Our OFXperts will walk you through how our solutions can help to support your business needs and goals. Request a demo here.
How do I get started or switch to OFX?
If you’re new and ready to get started, sign up to a free business account for up to 3 users, with no minimum requirements. It’ll take around 1-2 business days from the date you register for your account to be ready, assuming all documents are in order.
If you’re thinking of switching to OFX from another platform, we’re here to help. Contact our OFXperts if you have any questions about moving your account and data.
Does OFX have a free plan?
Yes, we do. Get started for free with the OFX Business plan for up to 3 users. There are no start-up or maintenance costs. You get a business account with access to multiple global currency accounts, corporate multi-currency cards, and all the basic features to help you manage and automate payments in 30+ currencies.
To enjoy more users and added features such as approval workflows and expense management, you can use our paid Business Plus plan for free with a 30-day trial. Visit our pricing page for more details.
How do I ask more questions about OFX?
For new business enquiries, email sales@ofx.com. Or if you prefer to speak to someone on the phone, call 1300 300 524 (Local) or +61 2 8667 8090 (International). With offices in 9 countries, there’s always an OFXpert to help you when you need, 24/7.
Want to learn more?
Gain more control and time with streamlined processes – all from a single platform. Get started for free with a Business plan. Or enjoy more features in our paid Business Plus plan with a 30-day free trial.
Visa is a trademark owned by Visa International Service Association and used under licence.
Sources
- Airwallex’s $0/month pricing plan for small businesses has minimum requirements. See here: Plans & Pricing | Airwallex Official Site
- Weel does not advertise a $0/month pricing plan for businesses with no minimum requirements on its pricing page. See here: Weel Expense Management Pricing | Weel
- Weel does not offer international bank transfers as a feature. See here: Does Weel support SWIFT codes/International Transfers?. Weel bill payments are also limited to AUD $100k. See here: Are there any limits that apply to bill payments?
- Weel offers an AUD account only: How to transfer funds into your account balance
- Airwallex offers limits over various time periods on individual cards, but not a shared budgeting feature across multiple users that can be applied to bank transfers and card spend: How to change Airwallex Card transaction limit?
- Both Airwallex and Weel offer bank transfer and direct debit as funding options. In order to fund the account via a card charge, a third party would need to be used. See here: How to add funds to your Airwallex Wallet , here How to transfer funds into your account balance, here How to set up a direct debit to top-up your account balance.
- Weel does not offer ABA files or a payroll integration required to make payroll payments. See here: Payments – Weel Help Centre.
- Neither Airwallex or Weel offer a direct integration with EmploymentHero whereby payroll runs are automatically pushed into their platform for processing. See here: Software Integrations – Airwallex and here Integrations – Weel Help Centre.
- As per #3, Weel does not offer international bank transfers as a feature: Does Weel support SWIFT codes/International Transfers? and therefore only reimburses AUD expenses.
- Airwallex requires the full amount required to convert a conversion by default, and post-trade funding is subject to negotiation. See here When do I need to have funded my conversion? Weel offers no post-trade funding, nor do they offer multi-currency accounts or bank transfers as per #3 and #4.