Airwallex vs OFX: More currencies and more features to help you grow globally
Airwallex gives Kiwi businesses more currencies, more global tools to grow internationally, a way to receive international payments, and more financial tools and features for your business.
Compared to OFX, Airwallex lets you do more on the one platform, including a multi-currency business account, corporate cards, and expense management.
Find out how Airwallex compares to OFX, what currencies are available, how much it costs for foreign currency transfers, and more, so you can decide what’s best for your business.
New ZealandNZD3 reasons why businesses choose Airwallex over OFX
More currencies and a multi-currency account
Airwallex lets you transfer to 200+ countries compared to 150+ with OFX. You can receive funds from 70+ countries and open local bank details in 20 currencies with the Airwallex Global Account, not available with OFX.
Low-cost, fast FX and transfers
Convert at market-leading interbank rates for major currencies, with 90+ currencies trading at interbank rates with built-in rate alerts. For transfers, pay out to over 200 countries, including 120+ leveraging cost-effective local rails.
Do more on one platform
Airwallex is an all-in-one financial platform to help your business grow globally without borders. Open multi-currency virtual cards and issue them instantly globally; earn on your idle AUD and USD funds with Yield; and get real-time visibility and control over employee spending, globally, with expense management.
Compare Airwallex and OFX features
From currencies to global reach, Airwallex lets Kiwi businesses do more.
"Airwallex Bill Pay has given us better control over our finances, and has helped us roll up important strategic budgeting and forecasting capabilities. It’s also improved our relationship with our suppliers, because we now never miss a beat with paying them on time."
Joel Stehr
Chief Operating Officer, Bilue
"One thing we like about Airwallex, which differentiates it from other providers out there, is the team card approach as well as the individual cards. It’s a massive time saver too - to the point that we just wouldn't use a solution that didn't have an integration with Xero, just due to the volume of transactions and manual work that would be required otherwise. It's amazing.”
Georgia Burns
Strategic Finance Director, Auror
"It’s definitely time saving, from mine and our Head of P&C’s perspective as people that prepare payroll are not having to granularly look through each expense item line. The users have taken to it like a duck to water. It's not a difficult system to use. Sometimes people are like ‘oh, another system, another app to download.’ But it wasn’t arduous at all. Once you download the app, it's very straightforward. There's really been no push back whatsoever from anyone because I think people immediately get the buy in.”
Alec Alltimes
APAC Finance Director, Commission Factory
Frequently asked questions about OFX features and fees
How much are OFX fees in New Zealand?
OFX charges a flat fee of NZ$12 for money transfers under NZ$10,000. Third-party banks may also deduct a fee. A margin, calculated based on the currency exchanged and your transaction amount, will also be applied. You need to register with OFX to see an estimate of your money transfer cost.
What alternative solutions to OFX are there in New Zealand?
There are several alternatives to OFX for Kiwi businesses. This includes Wise Business, Worldfirst, TorFX, and Convera. However, Airwallex stands out for its global currency reach, competitive pricing, multi-currency business account, physical and virtual corporate cards, and innovative features such as Yield.
Who can open an Airwallex account in New Zealand?
Most Kiwi businesses are eligible. You’ll need an active NZBN, a valid ID for all directors or beneficial owners, and basic registration documents.