Wise Business vs OFX Business: Which is better for your business?

Business
10 Apr 2025
3 mins read
Written by

​Choosing the right business account can significantly impact how you manage your finances. We’re comparing Wise Business and OFX Business, focusing on their features, pricing, business card options, and more, to help you decide which one works best for you.

Wise BusinessOFX Business
FeaturesMulti-currency accounts, international payments, accounting software integration, business debit cards, mobile appMulti-currency accounts, international payments, accounting software integration, corporate multi-currency cards, mobile app
PricingOne-time setup fee, no monthly fees, transparent transaction feesNo account opening fee, no monthly fees, competitive exchange rates, no OFX fees for transfers over certain amounts
Business cardsPhysical and virtual cards, spending controls, no foreign transaction feesVirtual and physical cards, spending controls, no foreign transaction fees

Wise Business vs OFX Business: Key Features

Wise BusinessOFX Business
Supported currenciesOver 40 currenciesOver 30 currencies
International paymentsAvailable to 70+ countriesAvailable to 170+ countries
Accounting software integrationIntegration with Xero, QuickBooks, FreeAgentIntegration with Xero
Business debit cardsPhysical and virtual cardsVirtual and physical cards
AppMobile app availableMobile app available


Both options offer robust features. Wise stands out with its extensive currency support and integration with multiple accounting software platforms, while OFX excels in providing access to a broader range of countries for international payments. Ultimately, the best choice depends on your business’s specific needs.

Wise Business vs OFX Business: Pricing

Wise BusinessOFX Business
Account opening feeOne-time setup fee (varies by region)No fees
Monthly subscriptionNo feesNo fees
Currency exchange feesFrom 0.33% or 0.41%, depending on the currency pairCompetitive exchange rates with no hidden fees
Money transfer feesFrom 0.33%, varies by currencyNo OFX fees for transfers over certain amounts; third-party bank fees may apply
FX feesUses mid-market rate with transparent feesCompetitive exchange rates with no hidden fees


Wise offers a transparent fee structure with no monthly fees, while OFX provides competitive exchange rates and waives fees for larger transfers. Consider your transaction volume and currency needs to determine which pricing structure is more cost-effective.

Wise Business vs OFX Business: Business Cards

Wise BusinessOFX Business
Physical cardAvailableAvailable
Virtual cardAvailableAvailable
Custom cardNot specifiedNot specified
ATM withdrawalFree up to a certain limit per month; fees apply beyond thatNot specified


Both Wise and OFX offer business card functionalities, including physical and virtual cards. However, specific features such as custom card designs and ATM withdrawal policies may vary. It’s advisable to review the latest details directly from each provider to ensure they meet your business’s requirements.

See how Instarem compares

Instarem
FeaturesHold and exchange multiple currencies, send real-time payments, secure transactions, process up to 1,000 payments, and fund transactions seamlessly with Visa or Mastercard® credit cards
PricingNo monthly fees and no fees for cross currency payments
Business cardsVirtual prepaid Mastercard® with FX savings and customised spending controls

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About Instarem

Instarem powers global business payments that move as fast as you do. With our business account, you can make payments to 160+ countries easily and affordably. Whether it’s salary payouts, supplier invoices, or intra-company transfers, our solutions are built to simplify your workflow. We also offer tailored payment tools for industries like logistics, tech, travel, and more. Get clear spend insights with the SME Spend Barometer. As part of Nium, a global fintech unicorn, we’re trusted and regulated in 11 jurisdictions, moving USD $6 billion annually—and ready to help you scale. Contact us to find the right fit for your business.

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