01
02Feature comparison matrix
● = full support · ◐ = partial / plan-gated · — = not offered. Hover a row label for why it matters.
| Feature | Wise Business | OFX | Airwallex | Mercury | XE Money Transfer | Currencies Direct |
|---|---|---|---|---|---|---|
| Bulk / batch payments | ● | ● | ● | ● | ● | ● |
| Payment approval workflow | ● | ● | ● | ● | ◐ | ◐ |
| Multi-user roles & permissions | ● | ● | ● | ● | ◐ | ◐ |
| Multi-currency account | ● | ● | ● | ◐ | ● | ◐ |
| Forward contracts / hedging | — | ● | — | — | ● | ● |
| Dedicated dealer / account manager | — | ● | ◐ | — | ● | ● |
| Payments API | ● | ● | ● | ● | ● | ◐ |
| Accounting integration | ● | ● | ● | ● | ◐ | ◐ |
| Corporate / expense cards | ◐ | — | ● | ● | — | — |
03Provider profiles
The detail behind the matrix — pricing, speed, reach, limits, KYC and the use cases each provider is genuinely built for.
Wise Business
Read full review →Transparent low-margin FX with strong self-serve batch and approvals.
Best for: SMEs and startups paying global teams, contractors and suppliers who want the lowest visible markup and clean self-serve controls.
- Pricing:
- ~$31 one-time setup, no monthly fee. Conversion fee from 0.33%.
- Speed:
- Often same/next business day on major routes.
- Reach:
- Hold 40+ currencies; pay 160+ countries; local account details in up to 9–10 currencies.
- Minimum:
- No minimum transfer.
- Batch limit:
- Up to 1,000 payments per BatchTransfer.
- Eligibility:
- Most countries — but no onboarding in Nevada or US territories, and Wise stopped issuing US business cards in 2023.
Common use cases
- Paying overseas contractors and remote staff
- Supplier invoices in multiple currencies
- Collecting from marketplaces/clients via local details
- Subscription/SaaS revenue collection
Used most by
Strengths
- + Lowest visible markup of the set
- + Self-serve batch + approvals, no sales call
- + Free, widely-adopted API (Xero, Deel, GoCardless)
Watch-outs
- − No forward contracts / hedging
- − No dedicated dealer for large transfers
- − No US business cards since 2023
Compliance, KYC, limits & security
- Regulation:
- FCA (UK), FinCEN MSB (US), ASIC (AU) and other local licences; publicly listed (LSE).
- KYC / onboarding:
- KYB: business registration/licence, EIN, beneficial-ownership details. AI document scanning; most business accounts verified in 1–3 business days.
- Limits:
- No fixed transfer minimum; high per-transfer ceilings vary by currency and verification level.
- Fraud & security:
- 2FA, transaction monitoring, in-app payment-approval controls; recipient confirmation on supported routes.
- Funds protection:
- Customer funds safeguarded in segregated accounts (not FDIC/FSCS bank deposit insurance).
Account-managed FX built for larger and recurring business transfers.
Best for: Businesses sending larger amounts ($10k+) that want a dealer, forward contracts and tight Xero sync, with no transfer fees.
- Pricing:
- No transfer fees; cost is the rate margin.
- Speed:
- Often within 1 business day to major destinations.
- Reach:
- 30+ currencies, 170+ countries; Global Business Account with local receiving.
- Minimum:
- $200 per transfer (or $1,000/year minimum).
- Batch limit:
- Multiple recipients per batch file upload.
- Eligibility:
- Broad — operates across US, UK, EU, AU, NZ, CA, HK and more.
Common use cases
- Recurring supplier/import payments
- Large one-off settlements (property, equipment)
- Hedging known future FX exposure
- Paying overseas staff and contractors in batches
Used most by
Strengths
- + No transfer fees, dealer support on large amounts
- + Forward contracts up to 12 months
- + Real-time two-way Xero/QuickBooks sync
Watch-outs
- − Rate margin replaces fees — compare totals
- − $200/transfer minimum
- − No corporate cards
Compliance, KYC, limits & security
- Regulation:
- Regulated by ~50 bodies incl. FCA (UK), FINTRAC (CA), AUSTRAC (AU); registered FinCEN MSB in the US.
- KYC / onboarding:
- KYB on business identity, ownership and source of funds; integrates third-party verification. Onboarding typically a day or two.
- Limits:
- Min $200/transfer (or $1,000/year). No published upper cap — built for large transfers.
- Fraud & security:
- 2FA, transaction monitoring and approval workflows; dealer-assisted checks on large transfers.
- Funds protection:
- Client funds held in segregated accounts at major banks per local regulation.
Airwallex
Multi-currency accounts plus spend management on one platform.
Best for: Scaling and eCommerce businesses wanting global accounts, batch payouts, cards, approvals and an embeddable API in one stack.
- Pricing:
- Free/low base tiers; advanced controls on Grow/Accelerate plans. FX ~0.4–0.6%.
- Speed:
- Local-rail payouts often same/next day.
- Reach:
- Up to 10 Global Accounts; pay 120+ countries; collect like a local in 180+ markets.
- Minimum:
- No fixed minimum; geared to ongoing volume.
- Batch limit:
- Up to 1,000 recipients per batch.
- Eligibility:
- Available across US, UK, EU, AU, HK, SG and more.
Common use cases
- Collecting global revenue in local currencies
- Mass contractor/seller payouts via API
- Embedding payments in a marketplace/platform
- Consolidating card spend + FX
Used most by
Strengths
- + Collect + pay + spend on one platform
- + Strong API for marketplaces/embedded finance
- + Corporate cards with OCR receipt capture
Watch-outs
- − Best controls are on paid plans
- − No forward contracts
- − Overkill for occasional senders
Compliance, KYC, limits & security
- Regulation:
- 60+ licences/registrations globally; HKMA MSO + stored-value licence; FinCEN MSB (US) and local EMI/MSB licences.
- KYC / onboarding:
- Single KYB unlocks all capabilities; gen-AI screening cut false positives ~50%. Accounts can activate in ~48h with complete docs.
- Limits:
- No fixed minimum; scales to high volume. Own local rails bypass SWIFT in 120+ countries (≈93% same-day).
- Fraud & security:
- 2FA, encryption, advanced fraud detection; granular multi-layer approvals.
- Funds protection:
- Client funds safeguarded in segregated accounts at Tier-1 institutions.
Mercury
US business banking with strong AP automation and approvals.
Best for: US-incorporated startups and SMEs wanting banking, bill-pay and global vendor payouts in one account with deep approval controls.
- Pricing:
- $0 monthly. ACH + domestic + USD intl wires free; non-USD 1% FX.
- Speed:
- 99.6% of 2025 domestic payments arrived in ≤1 business day; USD intl wires 1–3 days.
- Reach:
- Pays 40+ currencies across 200+ countries/regions (USD account base).
- Minimum:
- No minimum.
- Batch limit:
- Mass payments via API; Bill Pay for AP batches.
- Eligibility:
- Requires a US-registered company (founders can be non-US); rejects PO box / registered-agent addresses; some founder countries unsupported.
Common use cases
- US startup treasury + operating account
- Accounts-payable automation with approvals
- Paying global vendors/contractors in local currency
- Mass payouts via API
Used most by
Strengths
- + Free USD wires + ACH; banking + payments combined
- + Best-in-class approval rules (incl. separation of duties, approve in Slack)
- + Up to $5M FDIC via sweep; read/write API
Watch-outs
- − Requires a US entity — not for non-US companies
- − Flat 1% FX on non-USD (pricier than specialists at scale)
- − No forward contracts / hedging
Compliance, KYC, limits & security
- Regulation:
- Fintech (not itself a bank); banking via partners Choice Financial Group, Column N.A. & Evolve (Members FDIC).
- KYC / onboarding:
- KYB on US entity: formation docs, EIN, ownership, genuine US business address (no PO box / registered-agent). Some founder countries unsupported.
- Limits:
- No minimum; standard wire/ACH ceilings. USD intl wires free; non-USD flat 1%.
- Fraud & security:
- TOTP 2FA, data encryption, fraud monitoring and dark-web scanning; separation-of-duties approval rules.
- Funds protection:
- Up to $5M FDIC via sweep network (spread across ~20 partner banks).
XE Money Transfer
Read full review →Wide-reach business payments with mass-pay API and long-dated hedging.
Best for: Businesses needing broad currency coverage (145+) and recurring/scheduled supplier payments with no fees and forward contracts.
- Pricing:
- No transfer fees; cost is the rate margin.
- Speed:
- Typically 1–4 business days.
- Reach:
- Send to 190+ countries in 145+ currencies; send & receive across 130+.
- Minimum:
- No widely-published fixed minimum.
- Batch limit:
- Up to 250 transfers per Mass Payments request.
- Eligibility:
- Senders must be based in EU, UK, US, CA, AU or NZ.
Common use cases
- Recurring overseas supplier payments
- International payroll/contractor runs
- Importers hedging invoice exposure
- eCommerce multi-currency revenue
Used most by
Strengths
- + No fees even on large transfers
- + Forward contracts up to 24 months + credit lines
- + Widest currency reach in the set (145+)
Watch-outs
- − Senders limited to 6 regions
- − Approvals lighter than dedicated AP tools
- − Fewer native accounting connectors
Compliance, KYC, limits & security
- Regulation:
- Triple-regulated: FCA (UK), ASIC (AU), FinCEN (US).
- KYC / onboarding:
- KYC + AML/CTF documentation at signup; documents encrypted and stored per regional rules. Corporate credit checks for credit lines.
- Limits:
- No widely-published fixed minimum; no fees even on large transfers.
- Fraud & security:
- 2FA, AML/CTF monitoring, encrypted data handling.
- Funds protection:
- Client funds safeguarded per regulator requirements in each jurisdiction.
Currencies Direct
Read full review →Personal-service FX broker for SMEs that want a human and hedging.
Best for: SMEs and corporates wanting a dedicated account manager, forward contracts and batch payouts with zero fees on any amount.
- Pricing:
- Zero transfer fees; cost is the rate margin.
- Speed:
- Usually 1–2 business days (Europe sometimes <12h; exotic currencies longer).
- Reach:
- Major + many exotic currencies; receiving accounts in key currencies.
- Minimum:
- ~£100 online to third parties (platform min £10; max £300k–£500k).
- Batch limit:
- Multiple payees per single multi-currency upload.
- Eligibility:
- Strong UK/EU focus; serves SMEs and corporates internationally.
Common use cases
- International payroll for staff in many countries
- Exporter/importer FX risk management
- Royalty, licensing & IP payments
- Batch supplier/contractor payouts
Used most by
Strengths
- + Zero fees + a named account manager
- + Forward contracts up to 24 months with small deposit
- + Batch payments in different currencies in one upload
Watch-outs
- − Less suited to sub-£1,000 / same-day transfers
- − Lighter self-serve controls (account-managed)
- − Fewer native accounting connectors
Compliance, KYC, limits & security
- Regulation:
- FCA-authorised (UK) with equivalent local registrations; established 1996.
- KYC / onboarding:
- KYB on business + beneficial owners; account-manager-assisted onboarding for corporates.
- Limits:
- Online ~£100 min to third parties (platform min £10); max ~£300k–£500k per transfer.
- Fraud & security:
- 2FA, AML monitoring; account-manager verification on large/unusual transfers.
- Funds protection:
- Client funds held in segregated safeguarded accounts, separate from company funds.
04Live FX cost: specialists vs banks
Ranked by average true cost (FX markup + fees) of sending $5,000 across 10 corridors where we hold a live quote, as of 20 October 2018. Lower is cheaper. This is computed, not editorial — it refreshes every 6 hours.
Bar length = average true cost (FX markup + fee) to send $5,000. Each specialist beats the bank benchmark; cheapest is highlighted.
Download the cost data
The full per-corridor cost table behind these figures, as a CSV. Free to use with attribution to SendMoneyCompare.
Download CSV (2018-10-20)How we compared these
Featureswere verified against each provider’s own business and pricing pages plus 2026 third-party reviews (June 2026). We scoped the set to genuine business-FX / B2B-payment providers — Wise Business, OFX, Airwallex, Mercury, XE and Currencies Direct — because the question here is business payments, not consumer remittance.
Cost is computed live: we collect quotes for the same $5,000 payment on the same corridor every 6 hours and measure the true total cost as the gap between the mid-market receive amount and the actual receive amount after FX markup and fees —
true cost % = (mid-market receive − actual receive) ÷ mid-market receive × 100
Cost varies by amount: above ~$10,000, account-managed brokers (OFX, XE, Currencies Direct) can beat the headline figures through negotiated rates and waived fees. Compliance and KYC details reflect published requirements and can change — always confirm onboarding requirements with the provider for your jurisdiction. Always pull a live quote for your exact amount and corridor before committing.
Frequently asked questions
What is the best provider for international business payments?
It depends on your priority. For the lowest visible FX cost and clean self-serve batch + approvals, Wise leads — our live data shows specialists average 1.41% on a $5,000 transfer versus 2.67% for banks. For large or recurring transfers with hedging and a dedicated dealer, OFX, XE or Currencies Direct fit better. For a US startup wanting banking plus bill-pay approvals, Mercury; for an eCommerce/SaaS business wanting global accounts plus cards plus API, Airwallex.
Which providers support bulk payments and approval workflows?
All six support bulk/batch payments. Wise Business handles up to 1,000 payments per BatchTransfer, Airwallex up to 1,000 recipients per batch, XE up to 250 per mass-pay request, and OFX, Mercury and Currencies Direct via file upload or API. For approval controls, Mercury and Wise offer the most granular self-serve rules (Mercury enforces separation of duties so a creator can't approve their own payment); OFX and Airwallex support multi-layer approvals; XE and Currencies Direct are lighter or account-manager-led.
Are these providers safe and regulated for business money?
Yes — each is regulated and safeguards client funds. OFX is overseen by ~50 regulators (FCA, FINTRAC, AUSTRAC) and registered with FinCEN; XE is triple-regulated (FCA, ASIC, FinCEN); Currencies Direct is FCA-authorised; Wise and Airwallex hold multiple local licences and safeguard funds in segregated Tier-1 accounts. Mercury is a fintech, not a bank — deposits sit with partner banks (Members FDIC) with up to $5M coverage via a sweep network. None of the FX specialists offer bank deposit insurance; they ringfence client money instead.
How much cheaper are specialists than banks for business FX?
On the corridors we measure live, sending $5,000 costs 1.41% on average through a business-FX specialist versus 2.67% through a high-street bank — making banks roughly 1.89× more expensive. The gap is almost entirely the exchange-rate markup banks build into the rate, which stays hidden behind "no fee" wording.