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 |

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.
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 |

Considering Statrys? See our step-by-step guide on how to open a Statrys business account .
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)

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) |

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.)

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 |

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

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.
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
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.