While OKX is a major player in the cryptocurrency exchange world, some users report issues with customer support and have concerns about its reputation. This article will explore what OKX offers, delve deeper into why you might be looking for an alternative, and present other platforms for your banking and global payment needs.
What is OKX?
Founded in 2013, OKX is a cryptocurrency exchange and Web3 ecosystem serving over 50 million users. The platform provides a wide range of services like spot trading and DeFi, along with a user-friendly interface and advanced tools.
While OKX doesn't publicly disclose its pricing, it offers a free demo account for practice. User reviews are mixed, with praise for its competitive fees but also reports of slow customer support and concerns about its reputation.
What to Consider When Selecting a OKX Alternative?
When searching for a platform to replace OKX, especially for a business operating in the Web3 space, it's important to evaluate your specific needs. Here are five key factors to consider:
- Fiat and Crypto Integration:Look for platforms that allow you to easily manage and convert between traditional currencies like USD and digital assets like USDC.
- Business Management Tools:Consider whether the platform offers built-in features for payroll, expense management, and invoicing to streamline your operations.
- Customer Support:Evaluate the quality and responsiveness of customer service, as this can be a major pain point with some financial platforms.
- Transparent Pricing:Seek out services with clear, upfront fee structures so you can accurately predict costs without hidden charges.
- Security and Reliability:Ensure the platform has robust security measures and a dependable track record for protecting your company's funds.
If these considerations resonate with the challenges you're facing, the following alternatives may offer the solutions you need.
10 Best Alternatives to OKX
1. OneSafe
OneSafe is a finance platform designed to modernize banking for businesses, particularly those operating in the Web3 and crypto sectors. We provide essential tools for effortless fund management, quick payments, and access to both traditional and digital assets.
Our platform facilitates a direct 1:1 conversion from USD to USDC on Polygon, simplifying payroll and expense management for global teams. We also offer end-to-end expense management, rapid account setup, and highly responsive customer support tailored for businesses in the digital asset space.
Pricing
Here's a look at our straightforward pricing:
- Free Account Essentials: Get started with no fees for account opening, maintenance, or virtual and physical card issuance. We don't require a minimum balance or charge a monthly subscription.
- 0.1% Domestic & USDT Transactions: Effortlessly manage your funds with a low fee for US domestic transfers (ACH & wires) and USDT transactions.
- 0.2% International Payments: Expand your global reach with competitive rates for SEPA payments and international wires (a $50 SWIFT fee applies to international wires).
- Included Fiat-to-Crypto Conversions: Convert between fiat and crypto with rates based on the market, ensuring you get a fair value without surprise charges.
- $25 Flat Fee Fedwire Transfers: Send urgent domestic wires quickly with a simple, predictable flat fee.
Reviews
Users consistently praise our platform for its exceptional customer support and for simplifying complex financial operations like payroll for Web3 companies. Our clients find that we provide a banking solution that truly understands and addresses their unique challenges.
- Amit Chu, Investments @ Celo Foundation: “OneSafe has the best customer support I've ever experienced from a bank.”
- Marco, CEO of Ensuro: “OneSafe is a game-changer. They solve so many headaches for our company. Finally a banking solution that gets it.”
Want to learn more? Check us out here.
2. Bunq
Founded in 2012, Bunq is a Dutch fintech company that provides mobile banking services across 30 European countries. It offers both personal and business accounts with features designed for international financial management.
The platform gives users access to multiple International Bank Account Numbers (IBANs), multi-currency support, and a public API for developers. Bunq also has a sustainability initiative, planting trees based on subscription plans and allowing customers to invest in environmental projects.
Pricing
Here's their pricing at a glance:
- Free bunq Free: For sole proprietors, includes 3 bank accounts with IBANs.
- €7.99/month bunq Core: Includes 3 bank accounts with IBANs.
- €13.99/month bunq Pro: Includes 5 bank accounts with IBANs.
- €23.99/month bunq Elite: Includes 25 bank accounts with IBANs.
Reviews
While user feedback often mentions the app's interface and financial tools, some users report issues with customer support and slow response times. Check out more Bunq reviews here.
3. Wise
Wise, formerly TransferWise, is a UK-based financial technology company founded in 2011. The company provides services for international money transfers to over 15.5 million active customers, including individuals and businesses.
The platform utilizes the mid-market exchange rate for transfers and offers a multi-currency account for holding funds in over 40 currencies. A debit card is also available for spending and withdrawing cash in different countries.
Pricing
Here's their pricing at a glance:
- $31 One-Time Fee Business Account Setup: A single charge for receiving account details in multiple currencies.
- From 0.57% Sending Money: The fee for sending money varies by currency.
- $9 One-Time Fee Multi-Currency Card: A single charge for the debit card.
- Fixed Fees International Wire Transfers: Charges apply for receiving certain international payments.
- Free Holding Money: No cost for holding funds in the account.
Reviews
User feedback indicates some customers have experienced issues with account freezes and unresponsive customer support. Check out more Wise reviews here.
4. Novo
Novo is a financial technology company that offers business deposit accounts through its partnership with Middlesex Federal Savings. The platform provides a mobile-first banking experience tailored for small business owners, freelancers, and entrepreneurs.
The account has no monthly fees or minimum balance requirements and includes a built-in invoicing tool and integrations with other business software. Additionally, it provides refunds on ATM fees worldwide up to a monthly limit and offers partner perks on various business services.
Pricing
Novo provides a business checking account with no monthly fees, minimum balance requirements, or transaction fees. The account includes free incoming wires and refunds on ATM fees up to a monthly limit.
Reviews
User reviews frequently mention issues with customer service, citing slow response times and difficulties with dispute resolution. Other feedback points to concerns about account closures and the platform's handling of fraud claims. Check out more Novo reviews here.
5. OneMoneyWay
OneMoneyWay is a digital platform designed for small and medium-sized enterprises in Europe to manage global financial operations. The company offers international transfers, foreign exchange services for over 24 currencies, and various payment solutions.
The platform claims to provide faster transactions than traditional banks and has no transaction limits. It also offers virtual and physical corporate cards, business accounts, and payment terminals through regulated partners.
Pricing
Here's their pricing at a glance:
- Free Freemium: For businesses with annual revenue below £150,000. This plan includes one business account, one virtual corporate card, and higher transaction fees.
- £49/month Starter: Billed annually, this plan provides up to three business accounts, two virtual and two physical corporate cards, lower transaction fees, and a personal advisor.
- £99/month Business: Billed annually, this plan offers up to five business accounts, four physical and unlimited virtual corporate cards, the lowest transaction fees, and a personal advisor.
All prices are indicative and depend on the company's revenue and industry.
Reviews
User feedback often centers on the company's service quality and staff support, with many comments referencing specific team members. While some reviewers note that account setup can take longer than expected, others point to the platform's features like local IBAN accounts and foreign exchange rates. Check out more OneMoneyWay reviews here.
6. Axos Bank
Originally established as Bank of Internet USA in 2000, Axos Bank is a digital financial institution based in San Diego, California. It provides a range of services including personal and business banking, loans, and investment solutions.
The bank offers competitive interest rates on some accounts and has low to no fees for many of its products. Account holders can access their funds through a large network of ATMs.
Pricing
Here's their pricing at a glance:
- No Monthly Fee Basic Business Checking: This account has no monthly maintenance fees, unlimited fee-free transactions, and free incoming wires.
- $10/month Business Interest Checking: The monthly fee is waived with an average daily balance of at least $5,000. It offers 1.01% APY on balances up to $49,999.99.
- No Monthly Fee Business Premium Savings: This account has no monthly maintenance fees and offers a 3.80% APY.
Reviews
Some users report technical issues with the app, difficulties with account management, and communication problems. There are also mentions of account restrictions and discrepancies in interest rates. Check out more Axos Bank reviews here.
7. RelayFi
RelayFi is a financial technology company that offers an online banking platform tailored for small businesses. The service is designed to help companies manage their financial operations.
The platform provides fee-free banking with no minimum balances, the ability to create up to 20 checking accounts, and integration with accounting software like QuickBooks and Xero. It also offers high-yield savings accounts, customizable debit cards with spending controls, and is the official banking platform for the Profit First methodology.
Pricing
Here's their pricing at a glance:
- $0/month Starter Plan: Designed for solopreneurs and new businesses, this plan includes banking features, automated savings with a 1.03% APY, and integrations with QuickBooks and Xero.
- $30/month Grow Plan: For small teams, this plan includes all Starter features plus multi-step bill approval rules, customizable bookkeeping automation, and branded invoices.
- $90/month Scale Plan: For larger teams, this plan includes all Grow features along with AI-powered automation, cash flow insights, and faster customer support.
Reviews
User feedback often mentions the platform's customer service and integrations, while some reviews note transaction delays and account freezes. Check out more RelayFi reviews here.
8. VIALET
VIALET is a Lithuanian Electronic Money Institution established in 2017, offering digital banking services for small and medium-sized enterprises. The company provides dedicated International Bank Account Numbers for SEPA, SEPA Instant, and SWIFT transactions, as well as card processing solutions.
The platform supports various payment methods, including C2B, B2B, and B2C, and offers banking APIs and mass payouts for global SMEs. Additionally, VIALET accepts payments to and from cryptocurrency processors and provides accounts for EU-licensed crypto exchanges.
Pricing
VIALET does not publicly disclose detailed pricing information. To obtain a price list, businesses must submit an application, and final fees may be customized based on the information provided.
Reviews
User feedback points to issues such as unprofessional behavior, poor customer service, prolonged response times, and difficulties with the account opening process due to excessive information requests. Check out more VIALET reviews here.
9. Airwallex
Airwallex is a financial technology company founded in 2015 that provides services like cross-border payments and multi-currency business accounts. The platform also offers expense management tools and corporate cards for businesses.
The company provides multi-currency accounts in over 20 currencies and offers foreign exchange rates with a markup above interbank rates. It also facilitates local transfers to numerous countries and provides corporate cards with no international fees, alongside integrations with accounting software.
Pricing
Here's their pricing at a glance:
- Free Explore Plan: Free for users who deposit at least $5,000 per month or maintain a minimum balance of $10,000. This plan includes multiple business accounts and transfers to over 120 countries.
- $99/month Grow Plan: Includes all features of the Explore Plan, plus international batch transfers, expense management, and bill pay services.
- $499/month Accelerate Plan: Includes all features of the Grow Plan, plus centralized management of finances across global entities and single sign-on capabilities.
- Custom Custom Plan: Pricing is tailored for high-volume businesses or those needing custom API implementations based on specific requirements.
- From 0.5% FX Markup: Foreign exchange rates have a markup of 0.5% above interbank rates for major currencies and 1% for others.
Reviews
User feedback indicates issues with customer service, account suspensions without clear explanations, and challenges with the Know Your Customer (KYC) process. Check out more Airwallex reviews here.
10. Payhawk
Payhawk is a spend management platform that combines corporate cards, expense management, and accounts payable into a single system. This integration is intended to provide visibility and control over company spending through real-time tracking and reporting.
The platform offers Visa credit and debit cards in multiple currencies, automated receipt collection, and AI-powered data extraction. It also supports multi-entity management for businesses with multiple subsidiaries and connects with various accounting systems.
Pricing
Payhawk does not make its pricing structure public. Businesses can schedule a personalized demo to discuss pricing options tailored to their specific requirements.
Reviews
User feedback indicates some customers have experienced issues with mobile app synchronization and delays in transaction updates. A few reviewers also mention challenges with the initial setup and a need for clearer explanations in some administrative areas. Check out more Payhawk reviews here.
Which One Should You Go With?
Choosing the right financial partner depends on your unique business needs, and any of the platforms listed can be a solid choice. If you're looking for a solution built from the ground up for Web3 and crypto-native companies, we believe OneSafe is the ideal alternative. Ready to see how we can help your business grow? Sign up for OneSafe today and experience modern banking.
