Source: https://rivet.global/blog/ofx-vs-wise-business
Published: 2026-10-08 · Updated: 2026-11-05 · By Alexia M.

# OFX vs Wise Business: which suits a company sending money abroad?

OFX vs Wise Business compared on plans, FX pricing, local account details, cards and approvals, using each provider's UK pages.

## Key takeaways

- Wise Business publishes a conversion fee from 0.24% and charges no subscription. OFX's Standard plan is £0 per user; Full Suite is £75 a month for five users and £10 for each extra user.
- OFX quotes FX per transfer and offers forward contracts and hedging specialists. Wise does not offer forward contracts to businesses.
- OFX gives local details in GBP, EUR, USD and CAD. Wise gives account details in 22 currencies.
- Rivet publishes FX by plan (from 0.80%, 0.50% and 0.30%) and adds USDC and USDT, which neither OFX nor Wise offers.

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](/blog/fx-forward-contracts-explained) 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](/blog/ofx-alternatives-for-business) for more. Rivet is not a bank; regulated partner institutions hold client funds.

## Questions

### 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.