Top 5 OFX Alternatives in 2025 (and What They Do Better)

2025-05-30

8 minute read

A card of OFX compared to cards of its alternatives

You may have come across OFX while exploring ways to manage international payments, only to find that their Global Currency Account is no longer available. While OFX still supports global transfers and FX contracts, the limited local payout options and lack of multi-currency wallets make it less suited to businesses handling multiple currencies or payment flows.

In this article, we explore five alternatives to OFX, each offering tools and support better suited for businesses expanding across borders.

What Makes a Good Alternative to OFX?

OFX works well for sending international payments and locking in exchange rates, but it doesn’t always meet the needs of growing or hands-on businesses.

A good fit will let you manage international payments without friction, support more currencies and payout options, and provide features that scale with your operations.

Key features to expect from an OFX alternative include:

  • Multi-currency accounts – hold and receive in major currencies like USD, EUR, GBP, HKD, and more
  • Local account details – get paid like a local without opening multiple bank accounts
  • Integrated business tools – invoicing, batch payments, cards, or accounting sync
  • Transparent FX pricing – clearly stated markups or mid-market exchange rates
  • Stronger user access – assign roles, set limits, or separate team permissions
  • Responsive support – live chat, email, or a dedicated account manager

Let’s look at five strong alternatives to OFX that may be a better fit depending on your priorities:

Provider Best For Key Advantage Over OFX Notable Features
Statrys SMEs in Asia needing local payments and support Local payout support in 12+ currencies, dedicated manager Multi-currency account (11 currencies), team roles, FX tools
Wise Businesses needing low-cost global payments Transparent FX rates and 23 local accounts 40+ currencies, batch payments, no monthly fee
Airwallex Scaling companies with technical or API needs More currencies, global accounts, and card tools 60+ currencies, bulk payments, virtual cards, FX APIs
WorldFirst Marketplace sellers collecting in multiple currencies Platform integrations and wide collection coverage 20+ currencies, Amazon/Shopee integrations, “World Card”
Payoneer Freelancers and sellers using marketplaces Supports client billing, 2,000+ platform integrations Card payments, payment requests, local accounts, mobile app
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Disclaimer: Information in this article is accurate as of 20 May 2025, but it may be subject to change. We recommend checking each provider’s official website for the latest details.

Business Account With Transparent FX Rates

Access mid-market rates with clear markups—plus a dedicated manager to help you manage global payments.

Screenshot of the Statrys payment platform's business account dashboard. The interface displays account details for "Happy Client Limited," showing a total balance of HKD 886,277.52 across multiple currencies (HKD, USD, EUR). The left sidebar contains navigation options such as Accounts, Transfer, Convert, Secure your FX Risk, Payees, Cards, Team, Statements and documents, and Integrations. A prominent "Add a payee" and "View Account Details" call-to-action section is visible.

1

Statrys

Statrys is a Hong Kong-based fintech founded in 2019 that offers business accounts built for companies operating in multiple currencies. Available to businesses incorporated in Hong Kong, Singapore, and the BVI, Statrys supports day-to-day international payments, including local transfers in several Asian currencies.

It’s designed to serve SMEs looking for more flexible alternatives to traditional banking setups, especially those that need to manage cross-border payments, assign specific access to team members, and receive support that understands regional business contexts.

Statrys Key Features

  • Multi-currency account supporting 11 currencies, including HKD, USD, EUR, SGD, and CNY
  • Send and receive payments through SWIFT and 12+ local clearing routes
  • FX conversions at mid-market rates with forward contract options
  • Role-based user access (admin, maker, approver)
  • Prepaid Mastercard® (virtual and physical) for business spending
  • Dedicated account manager with support in English, Cantonese, Mandarin, or French

Statrys Fees

Fee Type Amount
Account Opening Free
(conditions apply for non-Hong Kong/Singapore entities)
Inactivity Fee HKD 88/month
(applies if fewer than 5 outbound payments per month)
Send Payments Local: from HKD 5
SWIFT: from HKD 85
Receive Payments Local (HKD, USD, CNY): Free
SWIFT: HKD 60
FX Markup Mid-market rate + 0.4%–0.6%
Card & Usage Fees First physical card free; extras HKD 48/month
ATM: 1.99%
FX: 1.5% per foreign transaction

For full details, visit Statrys’ pricing page.

Pros and Cons of Statrys

✅ Supports BVI-registered businesses

✅ Local payments available in HKD, CNY, SGD, and more

✅ Role-based team access controls

✅Dedicated account manager per client

✅ MT103 tracking provided for every outbound transfer

❌ Only available to Hong Kong, Singapore, or BVI companies

❌ Inactivity fee applies if under 5 transfers/month

❌ Prepaid cards must be topped up manually

Statrys vs OFX

Feature Statrys OFX
Available to BVI Companies ✅ Yes ❌ Not supported
Local Payment Coverage 12+ currencies including HKD, CNY, SGD Limited to 5 major currencies
Team Access & Permissions ✅ Role-based access for multiple users ❌ No user-level access controls
FX Transparency Fixed markup over mid-market rate FX margin varies, not always disclosed
Dedicated Account Support ✅ Manager assigned to each client ❌ No named manager; general 24/7 support
Payment Tracking ✅ MT103 available for all outbound transfers ❌ Not consistently provided
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Considering Statrys? See our step-by-step guide on how to open a Statrys business account .

Open a Hong Kong Business Account

You can receive and make payments in all major currencies. No minimum deposit.

Screenshot of the Statrys payment platform's business account dashboard. The interface displays account details for "Happy Client Limited," showing a total balance of HKD 886,277.52 across multiple currencies (HKD, USD, EUR). The left sidebar contains navigation options such as Accounts, Transfer, Convert, Secure your FX Risk, Payees, Cards, Team, Statements and documents, and Integrations. A prominent "Add a payee" and "View Account Details" call-to-action section is visible.

2

Wise

Wise, founded in 2011 and formerly known as TransferWise, is a London-based fintech known for simplifying global payments for individuals and small businesses. Its business account gives users access to local bank details in over 20 currencies, combined with low-cost international transfers and transparent FX pricing.

Unlike OFX, Wise includes automation tools like batch payments and accounting integrations, making it well-suited for freelancers, startups, and SMEs managing payments across multiple currencies, without relying on traditional banking infrastructure.

Wise Key Features 

  • Multi-currency account with local details in 23 currencies, including GBP, EUR, USD, AUD, and SGD
  • Send payments to 70+ countries in 50+ currencies with upfront FX fees
  • Batch transfers via CSV for bulk payments
  • Custom team permissions and role-based access
  • Integration with Xero, QuickBooks, and FreeAgent
  • Virtual and physical debit cards (availability varies by region; cashback up to 0.5% in select markets)
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New to Wise? Learn more about how to open a Wise business account, including eligibility and document requirements.

Wise Fees

Fee Type Amount
Account Opening £45 one-time setup fee
Send Payments From 0.33% per transfer
Receive Payments Local: Free
SWIFT: varies (e.g. USD – $6.11, GBP – £2.16)
FX Markup Mid-market rate + 0.33%–1%
Card & Usage Fees First card free; extra cards £3 each
ATM: Free up to £200/month, then £0.50 + 1.75%

See the complete Wise Business pricing breakdown for full details.

Pros and Cons of Wise

✅ Local account details in 20+ currencies

✅ Batch payments for payroll and bulk transfers

✅ Transparent mid-market FX with low fees

✅ No monthly fees or hidden charges

✅ Supports a wide range of countries and business types

❌ No cash or cheque deposit options

❌ Customer support can be slow or limited

❌ Physical debit card not available in all regions

❌ Setup fee applies to open an account (£45)

Wise vs OFX

Feature Wise OFX
Local Account Details 23 currencies 5 currencies (USD, EUR, GBP, AUD, CAD)
FX Pricing Transparency Mid-market rate + fixed fee FX margin varies, not always disclosed
Batch Payments ✅ Supported via CSV ❌ Not available
Accounting Integrations ✅ Xero, QuickBooks, FreeAgent ❌ Not offered
Team Access & Permissions ✅ Custom roles for multiple users ❌ Not customisable
Onboarding Process Fully online with quick setup Online form with verification (may take longer)
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Comparing Wise and OFX? See our full breakdown of Wise vs OFX for side-by-side analysis.

3

AirWallex

Handling multi-market payments can quickly become complex, especially when dealing with separate accounts, currencies, and transfer systems. Airwallex was built to unify those processes into a single platform that lets businesses collect, convert, and send funds across borders with more control and fewer manual steps.

Founded in 2015, the platform now serves businesses in over 50 countries. With tools like batch transfers, local account details in 20+ currencies, and ecommerce integrations, Airwallex is well-suited for scaling companies with distributed teams or global customers.

AirWallex Key Features

  • Local collection accounts available in 20+ countries across major currencies
  • Multi-currency wallet for holding and converting 60+ currencies
  • Batch payments to up to 1,000 recipients
  • Virtual and physical Visa cards (0% foreign transaction fees)
  • Built-in expense management and role-based access
  • API, accounting, and ecommerce integrations (Xero, Shopify, WooCommerce, etc.)
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Interested in a deeper dive? Read our Airwallex Business Account Review for insights on features, availability, and account setup.

Airwallex Fees

Fee Type Amount (Varies by Region)
Account Opening Free
Account Monthly Fee Free in most regions
UK: £0 with ≥ £10k/month deposit
Send Payments Local: Free
SWIFT: e.g. HKD 120–200, SGD 20–35, GBP 10–20
Receive Payments 0.3% for non-owner transfers (HK)
0%–0.6% in other regions
FX Markup From 0.2%–1% based on currency and location
Card & Usage Fees Most regions: free company cards
UK: first 5 free, then £5–12/card/month
ATM: Not supported

For the full breakdown by country, check Airwallex’s pricing page .

Pros and Cons of Airwallex

✅ Open local accounts in more countries than OFX

✅ Multi-currency wallet keeps funds separate from collection accounts

✅ Batch payments and scheduled transfers for up to 1,000 recipients

✅ Expense tools and card limits built in for team-level control

✅ Direct ecommerce integrations for global sellers

❌ 0.3% fee on non-owner transfers may increase costs for high-volume users

❌Physical cards only available in select countries

❌ No ATM withdrawals

❌ Customer support is fully online and region-specific

Airwallex vs OFX

Feature Airwallex OFX
Local Account Access Available in 20+ countries Only 5 currencies supported
Multi-Currency Wallet ✅ Hold and manage 60+ currencies ❌ Not supported
Batch Transfers ✅ Up to 1,000 recipients ❌ Not available
Ecommerce Integration ✅ Connects to Shopify, WooCommerce, etc. ❌ Not supported
Team Expense Controls ✅ Role-based access and card limits ❌ No team management features

What to Watch Out For

4

WorldFirst

Launched in 2004, WorldFirst is a UK-based payment provider geared toward ecommerce businesses. Its platform is designed to help sellers collect payments from global marketplaces like Amazon and Shopify, convert currencies at competitive rates, and send funds to suppliers in over 200 countries.

Where OFX leans toward FX-focused transfers, WorldFirst is better suited for merchants handling regular marketplace payouts. With no monthly fees, access to local collection accounts, and a business card for global spending, it offers a straightforward solution for managing revenue across regions.

Key Services Offered by WorldFirst

  • Multi-currency account with local bank details for 15–20+ currencies
  • Send payments to over 200 countries in 100+ currencies
  • Receive payouts from Amazon, Shopee, Shopify, PayPal, and more
  • Convert currencies using spot contracts
  • Use “World Card” to spend in 150+ currencies (online and in-store) 
  • Fully online onboarding for sole traders and registered businesses

WorldFirst Fees

Fee Type Amount
Account Opening Free
Monthly Fee Free
Send Payments Local: from £0.30 (UK), Free (SG)
SWIFT: from £4 (UK), from $5 (SG)
Receive Payments Free in supported currencies
Currency Conversion Up to 0.5% (UK), up to 0.6% (SG)
Marketplace Payouts 0.8% (SG – 1688.com orders)

For the latest fees by region, visit WorldFirst’s official pricing page .

Pros and Cons of WorldFirst

✅ Built for global ecommerce sellers

✅ Compatible with 130+ marketplaces and gateways

✅ “World Card” supports spending in 150+ currencies

✅ Allows automated payments to platforms like 1688.com

✅ No monthly or account setup fees

❌ No advanced budgeting or cash flow tools

❌ Only one card per account; no multi-user cards

❌ Mobile app only available in selected regions

❌ Incoming funds only via bank transfer; no debit/top-up options

WorldFirst vs OFX

Feature WorldFirst OFX
Ecommerce Marketplace Support ✅ 130+ integrations (Amazon, Shopee, etc.) ❌ Not marketplace-focused
Global Card Offering World Card usable in 150+ currencies worldwide Visa business card (limited support)
FX Conversion Spot contracts with transparent markup Variable margins, not always disclosed
Payment Reach Send to 200+ countries Send to 170+ countries
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Tip: See our WorldFirst Business Account Review for insights on features, usability, and whether it fits your business needs.

5

Payoneer

Founded in 2005, Payoneer is designed for freelancers, ecommerce sellers, and small businesses collecting international payments, especially from platforms like Amazon, Fiverr, or Upwork. With local account details in multiple major currencies and integrations with 2,000+ platforms, it’s a flexible choice for managing cross-border income without needing a full business setup.

The account is easy to open online and supports batch payments, payment requests, and global card spending. However, some features, like card availability or payout options, vary by region. Fees can also add up for lower-volume users, and customer support is limited unless you're logged in.

Payoneer Key Features

  • Local receiving accounts in USD, EUR, GBP, and more (30+ currencies supported)
  • Send payments to 190+ countries in 70+ currencies
  • Get paid from 2,000+ platforms including Amazon, Upwork, and Airbnb
  • Batch and scheduled payments for managing vendors or payroll
  • Payoneer Mastercard® for global spending and ATM withdrawals
  • Accept payments via card, bank transfer, and request forms

Payoneer Fees

Fee Type Amount
Account Fee $29.95 annually (waived if > $2,000 received annually)
Send Payments Up to 3% (from balance)
Receive Payments (Local) Free (e.g. EUR in EU, GBP in UK)
Receive Payments (Cross-Border) Fixed fee or up to 1%
Currency Conversion Up to 3.5%
Payoneer Card $29.95 annual fee, FX fees apply

For full pricing details, visit Payoneer's official pricing page.

What to Watch Out For

Pros and Cons of Payoneer

✅ Ideal for freelancers and small businesses using marketplaces

✅ Supports card payments, bank transfers, and direct client billing

✅ Extensive country and platform coverage

✅ Fully digital sign-up process

❌ Annual fees apply if usage is low

❌ Currency conversion and transfer fees are above average

❌ No access to live support unless logged in

❌ No FX tools for rate-locking or hedging

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We’ve reviewed Payoneer in full. Check out the breakdown of features, fees, and support to help you decide if it’s the right fit.

Payoneer vs OFX

Feature Payoneer OFX
Marketplace Integration ✅ 2,000+ platforms (Amazon, Upwork, etc.) ❌ Not marketplace-focused
Payment Collection Local receiving account details in 30+ currencies 5 currencies (USD, EUR, GBP, AUD, CAD)
Payout Options Card, ACH, bank transfer, and more Bank transfer only
Account Setup Flexibility Sole traders, freelancers, and businesses Registered businesses only
FX Tools ❌ None beyond spot conversion ✅ Spot, limit, and forward contracts

Final Note

While OFX continues to support global transfers and currency risk management, it may not be the most practical choice for businesses handling frequent transactions or working across multiple markets.

Exploring alternative providers can help you find a better fit, especially if you need multi-currency accounts, local payment options, or tools that scale with your operations.

Open a Hong Kong Business Account

No minimum deposit. No maximum transaction. Support from an account manager.

Screenshot of the Statrys payment platform's business account dashboard. The interface displays account details for "Happy Client Limited," showing a total balance of HKD 886,277.52 across multiple currencies (HKD, USD, EUR). The left sidebar contains navigation options such as Accounts, Transfer, Convert, Secure your FX Risk, Payees, Cards, Team, Statements and documents, and Integrations. A prominent "Add a payee" and "View Account Details" call-to-action section is visible.

FAQs

What are the best OFX alternatives?

Some of the best OFX alternatives include: - Statrys: Great for SMEs in Asia needing local payouts and support - Wise: Ideal for low-cost, cross-border payments - Airwallex: Suited for scaling teams and API-driven businesses - WorldFirst: Best for marketplace sellers collecting in multiple currencies - Payoneer: A flexible option for freelancers and small ecommerce sellers Each provider offers different strengths depending on your business needs.

What services does OFX offer?

Can I have both OFX and Statrys accounts?

Is OFX better than TransferWise?

How trustworthy is OFX?

Disclaimer

More info

Our insights are derived from industry experience and information provided on each provider’s website. While we'd love for you to choose us, what's most important is that you make the decision that's right for you.

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statrys dashboard payments 2025