OFX vs Wise Business: which suits a company sending money abroad?
Wise publishes a conversion fee from 0.24%. OFX publishes plans and quotes FX per transfer, with hedging tools Wise does not offer. Which matters more depends on how large and how planned your payments are.
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Wise tells you the fee before you ask: conversion from 0.24%, varying by currency. OFX tells you the plan price and asks you to request a quote for the rate. That difference sums up the two companies.
Prices are from the UK pages of both providers, read in November 2026.
Side by side
| OFX (UK) | Wise Business (UK) | |
|---|---|---|
| Plans | Standard £0 per user; Full Suite £75 a month for 5 users | No plans; £50 once for account details |
| FX | Quoted per transfer; tailored on Custom | from 0.24% |
| Local account details | GBP, EUR, USD, CAD | 22 currencies |
| Currencies to pay | 30+ | Many, fee varies by currency |
| Forward contracts, hedging | Yes, with specialists | No |
| Approvals, spend controls | Full Suite | Basic team permissions |
| Card | Corporate card, cashback on Full Suite | Debit card, free in held currencies |
| Stablecoins | No | No |
Pick OFX if
You make large, planned payments in a currency you do not earn, such as an importer paying a supplier quarterly. Talking to a dealer, locking a rate months ahead and getting a quote on a big transfer can save more than a tenth of a percent on the margin. Our guide to FX forward contracts covers the trade-offs.
Pick Wise if
You make many smaller transfers and want the fee shown upfront every time, or you need account details in more currencies than OFX's four.
The gap both leave
Neither handles stablecoins, and neither publishes a fixed per-payout price for paying many people. Rivet does both. Every plan includes USDC and USDT ramps, and payouts to 120+ countries cost $2, $1 or $0.50 each depending on plan. Rivet's FX is published too: from 0.80% on the free Starter plan, 0.50% on Growth ($200 a month) and 0.30% on Scale ($500 a month), confirmed during onboarding.
Wise is cheaper than Rivet Starter for a company that only converts. Rivet is the one to compare if you also pay contractors abroad or get paid in USDC. See OFX alternatives for more. Rivet is not a bank; regulated partner institutions hold client funds.
Questions people ask
Is OFX cheaper than Wise?
For small, frequent transfers Wise is usually cheaper because its fee is published and starts at 0.24%. OFX quotes its rate per transfer, so the only way to compare is to get a quote for the same amount on the same day. For large, planned payments, OFX's hedging tools can be worth more than a small difference in margin.
Does OFX charge a monthly fee?
Its Standard plan is £0 per user per month in the UK. Full Suite costs £75 a month including five users, then £10 per user, and adds approvals, spend management and bill automation.
Can I lock an exchange rate with Wise?
Wise does not offer forward contracts for businesses. OFX, Ebury and Corpay do. Our guide to FX forward contracts explains how they work.
Sources
Alexia compares the accounts, cards and payment tools companies weigh before they switch, and writes Rivet's market guides for founders in a specific country. Prices in Alexia's comparisons come from each provider's own pricing page on the date given in the article, rules come from the regulator or tax authority that sets them, and every source is listed at the end.
More from Alexia M. →This article is general information, not legal, tax or financial advice. Rules and fees change; check the sources above and the provider’s current terms before you act on them.
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