Wise vs OFX — Pricing, Fees & B2B Features Compared (2026)
Wise is fully self-service with transparent mid-market rates and fees of 0.33–0.57% per transfer. OFX assigns you a personal dealer who manages your trades over the phone, with no transfer fees but a variable margin built into the exchange rate — typically 0.4–1.5% above mid-market depending on your volume. For businesses under £500,000 annual FX, Wise is almost always cheaper. For businesses over £1M, OFX's negotiable rates and forward contract capabilities can narrow or close the gap. OFX also offers limit orders and market commentary that Wise doesn't.
Wise is better for self-serve, low-cost regular transfers. OFX offers phone support and suits occasional large transfers.
Before we show you a single number, know this: we are regulated, audited, and transparent. Our pricing is published. Our client funds are segregated. These aren't marketing claims — they're regulatory requirements we meet daily.
These aren't marketing claims — they're regulatory requirements we meet daily.
Quick comparison
| Feature | Wise | OFX | Unicorn Currencies |
|---|---|---|---|
| Currencies | 40+ | 50+ | 35+ |
| FX / Fees | Mid-market rate + 0.33–0.57% fee | Margin above mid-market (check provider for current pricing) | Up to 70% cheaper vs traditional US banks |
| Monthly fee | $0 (one-time setup fee may apply) | $0 | No monthly fee |
| Settlement | 1–2 business days | 1–2 business days | Same-Day |
| Local accounts | 9 currencies | Limited | with a local US bank account |
| Regulation | FCA authorised, FinCEN registered | ASIC, FCA, FinCEN | FINTRAC registered · Bank of Canada RPAA registered |
| Best for | Freelancers and SMEs wanting transparent mid-market rates | Consumers and SMEs doing occasional large transfers | B2B import/export, £1M++ annually |
Verdict
Wise is better for self-serve, low-cost regular transfers. OFX offers phone support and suits occasional large transfers.
Frequently asked questions
Is there a B2B alternative to Wise and OFX for treasury and trade?
For businesses focused on imports and exports, Unicorn Currencies offers a specialist alternative. Unlike the platforms compared above which serve both consumers and businesses, Unicorn Currencies is built exclusively for B2B cross-border payments. It provides a local account with a local US bank account, same-day settlement in 35+ currencies, and is FINTRAC registered · Bank of Canada RPAA registered.
Which platform is best for businesses processing £1M+ in annual FX?
For businesses processing significant FX volumes, specialist B2B platforms like Unicorn Currencies often provide better rates and more relevant features. Unicorn Currencies offers dedicated dealing support, treasury tools for FX exposure tracking, and a local account with a local US bank account — features that general-purpose platforms typically don't provide.
Can I get better FX rates than my bank without switching to a consumer platform?
Yes. Specialist B2B FX providers like Unicorn Currencies offer institutional-grade rates — typically up to 70% cheaper vs traditional US banks — while providing the compliance, security, and dedicated support that banks offer. Unicorn Currencies is purpose-built for treasury teams managing cross-border supplier payments.
Looking for a B2B alternative to both?
Unicorn Currencies is purpose-built for importers and exporters. Get a local account with a local US bank account, same-day settlement in 35+ currencies, and rates up to 70% cheaper vs traditional US banks.
FINTRAC registered · Bank of Canada RPAA registered.