5 Best Alternatives to OFX in 2025

Q: What services does OFX offer?

OFX provides international money transfers, spot and forward FX contracts, and multi-currency accounts with local details in five major currencies.

Q: Can I have both OFX and Statrys accounts?

Yes. Many businesses use more than one provider to diversify features, reduce FX costs, or separate operational accounts by region.

Q: Is OFX better than TransferWise?

It depends on your needs. OFX offers more FX risk management tools, while Wise is stronger for low-cost transfers, local payout options, and ease of use.

Q: When should I consider switching from OFX to another provider?

You may consider switching from OFX if you need tools it doesn’t provide, such as holding multiple currencies, using business cards, or making local payments in more regions. It’s also worth exploring alternatives if you want clearer fees or support that fits your day-to-day payment needs.

OFX is a popular service provider that allows businesses to send money overseas at lower costs than traditional banks. But if you’re already using it, or comparing it with other providers, you may have run into some limits. OFX is strong on international transfers and FX, but it doesn’t fully replace a business account if you want to hold balances in multiple currencies, issue cards, or manage day-to-day team spending.

In this guide, we’ve shortlisted 5 practical OFX alternatives for 2025. Each one takes a different approach to solving the gaps many businesses hit with OFX, whether that’s multi-currency accounts, local receiving details, marketplace payouts, or better tools for controlling costs.

Whether you’re paying overseas suppliers, running an SME that’s outgrown simple transfers, or looking for clearer fees and more automation, you’ll find realistic options here.

We’ll start with three quick picks, then dive into each provider in more detail: what they offer, who they’re best for, and where they fall short so you can choose based on how your business actually operates.

Our Top Picks

1st Choice

Multi-currency business account with 11 major currencies, online onboarding & low FX fees.

See Pricing Get Started

2nd

Multi-currency business accounts with debit cards and an extensive payment network.

3rd

Business accounts with local account details and expense management tools.

Why trust us?

This shortlist is built to help you choose the alternative that genuinely fits your use case, even if that is not Statrys. Onboarding the wrong client increases costs for both sides, so our incentive is to be precise, not promotional.

We compare providers using consistent criteria across pricing and FX, transfer speed, coverage, features, and support, and we base claims on public documentation and corroborated user feedback.

Last reviewed: 20 November 2025.

How We Evaluated These Alternatives

We focused on payment and business-account platforms that are available to Singapore-based freelancers, startups, and SMEs using or considering OFX. Invite-only, enterprise-only, region-restricted, or unsupported-in-SG products were excluded, so the comparison reflects practical choices.

📌 How We Evaluated Each Provider

If a feature or fee is critical to you, confirm it on the provider’s site, then use the sections below to weigh the trade-offs.

Statrys

Trustpilot Score: 4.5 (360 reviews)

Founded in 2020, Statrys helps SMEs manage their finances with a multi-currency business account designed for international payments. Companies incorporated in Hong Kong, Singapore, and the British Virgin Islands (BVI) can send and receive payments across borders while keeping full visibility on FX costs and transfers.

Every account comes with a dedicated account manager, who can be reached via phone, WeChat, WhatsApp and more when you need help with accounts and payments.

Statrys' Key Features

Multi-currency business account supporting 11 major currencies, including SGD, USD, EUR, GBP, RMB, and HKD.
Send and receive payments through SWIFT and 12+ local clearing routes.
Real-time FX at mid-market rates with optional limit orders.
Xero integration for bookkeeping.
Dedicated account manager with support in English, Cantonese, Mandarin, or French.

✅ When Statrys is a better fit

When you prefer responsive human support instead of ticket-based help.
OFX uses general support lines. Statrys assigns you a dedicated account manager from day one, reachable through WhatsApp, WeChat, phone, or email.
When you need a multi-currency account to run daily operations.
OFX only allows sending money. Statrys provides a full business account to receive payments, hold currencies, convert FX, and pay suppliers.

⚠️ When Statrys may not fit your needs

When your business is registered outside Hong Kong, Singapore, or the BVI.
Statrys can only onboard companies from these three jurisdictions. If your company is incorporated elsewhere, you will need to look for other providers.
When your company relies on API connections to automate finance operations.
Statrys doesn’t offer public APIs. If your operations depend on API-driven payouts, reconciliations, or automated transfers, this may be a limitation.

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

Wise

Trustpilot Score: 4.3 (275,000+ reviews)

Founded in 2011, Wise 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’s 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 FX rates based on the mid-market rate.
Custom team permissions and role-based access for controlled team usage.
Accounting integrations with Xero, QuickBooks, and FreeAgent.
Virtual and physical debit cards to spend in multiple currencies.
Returns on balances in SGD, GBP, EUR, and USD.

✅ When Wise is a better fit

When you need local bank details to receive foreign payments.
Wise provides local account numbers in more than 20 countries, allowing overseas clients to pay you like a domestic business. This makes Wise a strong choice for globally invoiced businesses.
When you need simple tools for team spending.
Wise offers debit cards and role-based access to help teams manage expenses. Since OFX has no cards or spend controls, Wise is the better fit when you need both transfers and day-to-day team spending.

⚠️ When Wise may not fit your needs

When you expect personalised support from a dedicated person.
Wise mainly uses live chat and does not offer phone support or dedicated account managers. If you prefer speaking to a single point of contact or need guided help for payments, Wise may feel limited.
When you need to hedge currency risk.
Wise does not provide hedging tools. If you need to protect margins on future payments or large invoices, a specialist FX provider is more suitable.

Comparing Wise and OFX? See our full breakdown of Wise vs OFX for side-by-side analysis.

Airwallex

Trustpilot Score: 3.6 (2,157 reviews)

Airwallex is designed for businesses that need a faster and more centralised way to manage money across borders. For companies that have moved beyond basic payment tools and now require more automation, wider currency support, or smoother international operations, it offers a consolidated platform to handle these needs.

Founded in 2015, the platform now serves businesses in more than 50 countries. With features such as batch transfers, local account details in 20+ currencies, and ecommerce integrations, Airwallex is a practical option for companies with distributed teams or international customers.

Airwallex’s Key Features

Local collection accounts available in 20+ countries across major currencies.
Multi-currency wallet to hold and convert more than 60 currencies.
Batch payments to up to 1,000 recipients.
Virtual and physical Visa cards with 0% foreign transaction fees.
Built-in expense management with role-based permissions.
API, accounting, and ecommerce integrations including Xero, Shopify, and WooCommerce.

✅ When Airwallex is a better fit

When you operate across multiple currencies daily.
With the ability to hold and convert more than 60 currencies in one wallet, Airwallex is practical for businesses with overseas teams, global suppliers, or cross-border revenue streams.
When you need advanced operational tools like batch transfers and automation.
Airwallex supports batch payments for up to 1,000 recipients, provides API connectivity, and integrates with accounting and ecommerce platforms. If you require automated payouts or large-scale supplier payments, Airwallex offers more capability than OFX.

⚠️ When Airwallex may not fit your needs

When your business is not yet operating internationally.
Airwallex is built for multi-currency workflows and cross-border operations. If your business is purely local or only sends occasional overseas payments, many of its tools may be unnecessary.
When you rely on cash or cheque banking services.
Airwallex is a digital-only platform. There are no cash deposits, cheque services, or branches. If your business still uses these traditional banking functions, a conventional bank or hybrid provider would be more suitable.

Interested in a deeper dive? Read our Airwallex Business Account Review for insights on features, availability, and account setup.

WorldFirst

Trustpilot Score: 3.7 (3,057 reviews)

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.

WorldFirst’s Key Features

Multi-currency account with local bank details for more than 20 currencies.
Send payments to over 200 countries in more than 100 currencies.
Receive payouts from major marketplaces including Amazon, Shopee, Shopify, and PayPal.
Virtual payment cards for business spending in up to 15 currencies.
Forward contracts and rate alerts to help manage currency risk for up to 24 months.

✅ Who WorldFirst is a better fit

When you receive marketplace payouts (Amazon, Shopify, Shopee, etc.).
WorldFirst is designed for ecommerce sellers and supports direct payouts from major marketplaces. Since OFX cannot receive marketplace funds, WorldFirst is the clear choice if your income flows through Amazon, Shopify, Shopee, or similar platforms.
When you want hedging tools to lock in FX rates.
WorldFirst offers forward contracts up to 24 months, giving better long-term protection than OFX’s limit orders. If you need stronger tools to manage currency risk and protect margins, WorldFirst is the more suitable provider.

⚠️ Who WorldFirst may not fit your needs

When you need multi-user cards for team expenses.
WorldFirst currently provides only a single virtual card rather than multiple cards for different team members. If your team needs shared spending tools or individual cards, this limitation may cause friction.
When you want broader business services beyond FX and payouts.
WorldFirst is not a full-service business platform. It does not offer company incorporation, corporate secretary support, or wider administrative services, so businesses needing one-stop operational support may prefer another provider.

Tip: See our WorldFirst Business Account Review for insights on features, usability, and whether it fits your business needs.

Payoneer

Trustpilot Score: 3.6 (2,100+ reviews)

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’s Key Features

Local receiving accounts in USD, EUR, GBP, and more, with support for 30+ currencies.
Send payments to more than 190 countries in 70+ currencies.
Get paid from 2,000+ platforms including Amazon, Upwork, Fiverr, and Airbnb.
Batch and scheduled payments for vendor management and payroll.
Payoneer Mastercard® for global spending and ATM withdrawals.
Accept payments via card, bank transfer, and payment request forms.

✅ Who Payoneer is a better fit

When you receive payments from global platforms.
Payoneer integrates with Amazon, Upwork, Fiverr, Airbnb, and more than 2,000 platforms. Since OFX cannot collect marketplace or freelance payouts, Payoneer is the better choice if your income comes from these sources.
When you need clients to pay you through different methods.
Payoneer supports card payments, ACH, bank transfers, and payment requests. OFX only sends money out, so Payoneer is more suitable if you regularly receive funds from clients.
When you want a simple way to hold and spend global earnings.
With a Payoneer Mastercard® available in many regions, users can spend or withdraw balances directly, something OFX does not provide.

⚠️ Who Payoneer may not fit your needs

When your payment volume is low or infrequent.
Payoneer charges an inactivity fee after 12 months with no transactions, making it less suitable for occasional or low-volume users.
When your business needs consistent features for team members in different countries.
Card availability and payout options vary by region, so global teams may find the experience inconsistent.
When you require FX risk-management tools.
Payoneer does not offer forwards or other hedging products, so businesses that need to manage currency risk will need another provider.

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.

Final Note

Picking the right OFX alternative depends on what your business needs most. Some services focus on cheaper transfers, others offer multi-currency accounts, marketplace payouts, or better ways to manage team spending. The best choice is the one that makes your payments easier and keeps your costs clear.

As you compare providers, look at the features you use every day, the currencies you need, the fees, payout options, cards, and the type of support available. Choose the option that fits how you work now and can still support you as your business grows.

Take control of your international payments

Statrys gives you clear FX fees starting from 0.1% plus support you can count on when you need it.

Screenshot of the Statrys payment platform's business account dashboard.

FAQs

What are the best OFX alternatives?

The top OFX alternatives include Statrys, Wise, Airwallex, Payoneer, and WorldFirst. These providers offer features that OFX doesn’t, such as multi-currency accounts, local payment options, business cards, marketplace payouts, or clearer fees depending on your needs.

What services does OFX offer?

Can I have both OFX and Statrys accounts?

Is OFX better than TransferWise?

When should I consider switching from OFX to another provider?

Disclaimer

More info

Statrys competes directly with OFX in the Hong Kong and Singapore payment industry. However, we're committed to providing an unbiased, thorough review to help you make an informed choice.