OFX vs Wise: UK comparison for businesses
Discover how OFX and Wise compare for UK businesses, across features, currencies, pricing and more.
Airwallex supports a lot of countries and currencies - but which of those can UK customers open an account for, receive money, send payments, and/or spend by card?
The reality is that each of these capabilities uses a different country list. For instance, a business might be eligible to open an Airwallex account but find that a particular Global Account location, domestic payment rail or card-billing currency has different conditions.
To help clarify things, we've put this guide together explaining Airwallex countries and currencies for UK businesses, including account-opening eligibility, Global Accounts, domestic and SWIFT receiving, transfers and card spending.
| 💡 Have you considered Wise Business? |
|---|
| With Wise Business, you can send money to 140+ countries, receive payments using local account details for 8+ currencies, and hold money in 40+ currencies. |
Note: Wise Business offers a free Essential plan for basic spending and transferring. If you need to receive money, set up direct debits, or generate invoices, you'll pay a one-time £50 setup fee to unlock the Advanced features.
| Feature or function | Airwallex countries and currencies |
|---|---|
| Receiving with Global Accounts | According to Airwallex's Global Accounts guidance, Global Accounts can receive funds in 20+ currencies from 70+ countries and regions, subject to location and onboarding-entity restrictions.1 |
| Opening an account | Your business needs to be registered in a country on Airwallex's eligible-country list. The list includes the UK, but being on it doesn't replace the other eligibility checks.2,6 |
| Domestic receiving | The domestic payment method, currency and account location need to match. According to Airwallex's Global Accounts guidance, a UK Global Account supports GBP domestic bank transfer, Faster Payments, CHAPS and BACS.1 |
| SWIFT receiving | SWIFT receiving is available for a wider set of currencies, but the relevant Global Account location must support it and banking-partner restrictions can apply.1 |
| Sending money | Airwallex's UK transfer page advertises payments to 150+ countries and 60+ currencies. Check the destination, currency and payment rail before relying on a route.3 |
| Card spending | UK-issued Airwallex cards can use direct billing in 10 listed currencies when there is enough money in that currency wallet.5 |
The first question is whether Airwallex can onboard your business. According to Airwallex's eligible countries and territories page, it can only process applications for businesses registered in the countries on its list; if your business-registration country isn't listed, it can't onboard you at that time.2
The list is about the country where the business is registered. It doesn't confirm that every product, payment rail or Global Account location will be available after onboarding.
| Region | Countries and territories listed for account opening |
|---|---|
| Europe and UK | Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Isle of Man, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and the United Kingdom.2 |
| Asia-Pacific | Australia, China, Fiji, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.2 |
| Americas and other locations | Brazil, Canada, Cayman Islands, Costa Rica, Marshall Islands, Mexico, Puerto Rico, Samoa, Seychelles, the United States, the British Virgin Islands and the US Virgin Islands, alongside the French overseas territories included in Airwallex's list.2 |
No. According to the Airwallex eligibility page, businesses registered in countries that aren't on the list, such as Russia, Pakistan, Nigeria and Bangladesh, can't be onboarded at that time.2
That is different from asking whether a UK business can send money to a recipient in one of those countries. Sending coverage is a separate product question, so check the live transfer route and compliance requirements before you promise a payment.3
According to Airwallex's Global Accounts guidance, Global Accounts can support domestic transfers, international SWIFT payments or both. The answer depends on the Global Account's location, the currency and your onboarding entity.1
For a UK business, that means you shouldn't assume that a currency shown in the wider Global Account table will give you a local collection route. Check the row for the location and currency you need.
According to Airwallex's Global Accounts guidance, the following are the domestic receiving routes relevant to this guide.
| Global Account location | Domestic receiving currency or currencies |
|---|---|
| United Kingdom | GBP via domestic bank transfer, Faster Payments, CHAPS and BACS.1 |
| United States | USD via ACH and FedWire, with FedNow and RTP available for eligible customers subject to approval.1 |
| Canada | CAD via EFT and Interac e-Transfer.1 |
| Hong Kong | CNY, EUR, HKD and USD.1 |
| Singapore | SGD.1 |
| EU and SEPA locations | EUR through the routes shown for Germany, Estonia and the Netherlands, including SEPA and SEPA Instant in Airwallex's Global Accounts table.1 |
| Other listed locations | AUD in Australia, NZD in New Zealand, IDR in Indonesia, ILS in Israel, MXN in Mexico, DKK and EUR in Denmark, PLN in Poland, AED in the UAE and CAD in Canada, subject to the listed restrictions.1 |
Some local routes have specific restrictions. According to Airwallex's Global Accounts guidance, Poland Global Accounts are only available to customers of Airwallex (UK) Ltd and Airwallex (Netherlands) B.V., while certain Denmark, Germany, Netherlands and UAE capabilities also have entity or domicile limits.1
The same Global Accounts page lists SWIFT receiving for AUD, AED, CAD, CHF, CNY, CZK, DKK, EUR, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, USD, GBP and ZAR, where the relevant Global Account supports international SWIFT payments.1
It also notes that payments from some restricted countries might not be accepted by banking partners for particular account locations. If the payment is important or time-sensitive, check the route before issuing the customer your details.1
Receiving money and sending it are separate checks. According to Airwallex's UK transfer page, businesses can pay suppliers and employees in 150+ countries and 60+ currencies.3
Before you use a route for payroll, a supplier invoice or a customer refund, check the destination country, recipient currency, payment rail, delivery estimate, recipient-bank requirements and transfer fee. A destination might be supported through SWIFT but not through a local payment method, which can affect cost and timing.
Airwallex's UK fee schedule also matters when you're converting money. According to the Airwallex UK fee schedule, the standard FX margin is 0.50% for a listed group of major currencies and 1.00% for TRY and other currencies not included in that group.4
Airwallex cards can be used for Visa-supported transactions, but direct billing isn't available in every currency. According to Airwallex's supported regions and currencies documentation, the UK direct-billing currencies are AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD.5
If there isn't enough money in the relevant wallet, Airwallex can automatically convert from the primary-currency wallet when that setting is enabled. The UK fee schedule lists a 1.00% automatic conversion fee, alongside the applicable FX rate and markup.4
So, if your team spends regularly in a currency outside that direct-billing list, look at the full conversion cost before you treat the card as a like-for-like local-currency spending solution.
The UK appears on Airwallex's eligible-country list, but country eligibility is only the starting point. According to Airwallex's account-eligibility guidance, a company must be officially registered and active, registered in an eligible country, outside unsupported industries, and can't be on a sanctions list, a shell bank or a bearer-share entity.6
The unsupported-industries guidance includes gambling, illegal drugs, counterfeit or unauthorised goods, weapons, payday lending and certain regulated financial services, among other activities outside Airwallex's risk appetite.7
If your business is UK registered but the ownership structure, activity or payment flow is unusual, check eligibility before moving your operating account or promising a new receiving route to customers.
💡 If you're comparing Airwallex countries and currencies because your business operates across borders, consider Wise Business.
With Wise Business, you can send money to 140+ countries, receive payments using local account details for 8+ currencies, and hold money in 40+ currencies.
You can also convert between currencies at the mid-market exchange rate with low, transparent fees.
Wise Business offers a free Essential plan for basic spending and transferring. If you need to receive money, set up direct debits, or generate invoices, you'll pay a one-time £50 setup fee to unlock the Advanced features.
With Wise Business, you can:
Make the wise choice when selecting a business account for your domestic and global needs.
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In the UK, Interest and Stocks are provided by Wise Assets, the trading name of Wise Assets UK Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA number 839689).
We do not provide investment advice, and taxes may apply. If unsure, seek qualified financial advice. Full fund information is available on our website.
According to Airwallex's Global Accounts guidance, Global Accounts can receive funds in 20+ currencies from 70+ countries and regions. Domestic and SWIFT support varies by account location, currency and onboarding entity.1
Yes. According to Airwallex's Global Accounts guidance, a UK Global Account can receive GBP through domestic bank transfer, Faster Payments, CHAPS and BACS, and can also receive international payments through SWIFT.1
Airwallex's Global Account guidance shows EUR domestic receiving in locations including Denmark, Germany, Estonia and the Netherlands, and also lists EUR among the available SWIFT receiving currencies. Availability depends on the relevant account location and any entity restrictions.1
No. The list of countries where a business can open an account is separate from Global Account, transfer and card coverage. If your business-registration country isn't on Airwallex's current eligible-country list, it can't be onboarded at that time.2
Sources:
Sources last checked on 29th July 2026
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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