OFX

OFX provides global money transfers and business financial services covering payments in more than 30 currencies to over 180 countries, corporate cards, currency accounts, foreign exchange contracts, spend management and accounts payable automation.

Publishing both the subscription and the transaction fees is what makes OFX unusually easy to evaluate. The Global Business Account and corporate cards are zero dollars per user, a Control tier is 75 dollars per month including five users with 10 dollars per additional user, and cross-border SWIFT transfers carry a 20 dollar per-transaction fee. A buyer can therefore model the cost of their actual pattern of use, which is impossible with most competitors.

Foreign exchange contracts sitting alongside ordinary transfers matter for the same reason they do at any provider serving importers and exporters: spot transfers, forward contracts and limit orders let a business fix a rate rather than accept whatever the market offers on the day a payment falls due. Limit orders in particular let a company specify a rate it is willing to transact at and wait, which is the difference between a treasury policy and hoping.

The Control Hub covers approvals, payments, budgets, workflows and user access rights, which is what the paid tier actually buys and reflects that spend control rather than transfer capability is the reason a growing company upgrades. Pay by Card earns rewards points on everyday business payments, and accounts payable automation and expense management complete the finance tooling.