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Currenxie: How Does It Compare to Payset?

Fintech and banking

Apr 20, 2026

4 min. read

Michael Dalton

Author

Currenxie is a business payments platform that originated in Hong Kong and now provides global services. It can be used to transact with a wide variety of countries and has a strong track record, making it an appealing choice — but are there better options?

02 Currenxie How Does It Compare to Payset

Key Takeaways

Currenxie offers multi-currency payments and virtual bank accounts.
Its payment network covers 120+ countries and more than 20 currencies.
It also offers FX features, API integration, and HKD payment cards.
At Payset, we aim to compete on two points where we believe Currenxie falls short: U.S. business accounts and personal accounts.

Currenxie is a financial technology company that’s centered on providing worldwide money transfers, FX conversion, and API features.

It was founded in Hong Kong in 2014 by former Goldman Sachs employees Riccardo and Alison Capelvenere after experiencing payment difficulties.

Currenxie quickly obtained payment licenses and launched global accounts, then built out its business and achieved global reach. It notably closed a Series A funding round that brought in the equivalent of $10 million in 2021.

That makes Currenxie a strong option, but it’s a good idea to take into account every aspect of the service. Is it your best choice?

Why Choose Currenxie

Currenxie splits its services between two main options: a global account aimed at business users and a platform API aimed at developers.

Its global accounts offer far-reaching coverage spanning a large network of countries. Companies using the service may be registered in many countries, but cannot be registered in the US and certain sanctioned countries.

Meanwhile, Currenxie’s API platform allows companies to integrate, build upon, and scale up the features found in the global account.

Currenxie also has strong usage statistics, reporting more than 13,000 clients and over $15 billion in funds moved as of 2026.

Core Products and Offerings

Let’s look at Currenxie’s core services in detail:

Multi-currency payments: A centralized account that includes support for over 20 currencies, including USD, EUR, GBP, AUD, JPY, and CNY.
Virtual bank accounts: Providing access to Currenxie’s global payment network, covering 40+ local collect countries, 50+ local payout countries, and 120+ cross-border collect and payout countries.
Foreign exchange (FX): Currency conversion features that Currenxie claims provide up to 8x savings compared to traditional banks.
Visa cards: Available to Hong Kong companies. These use the Hong Kong dollar (HKD) as the base currency with conversion during payment.

Platform API: Designed for platforms, SaaS, and financial institutions to enable global payments, FX, and scalable API integration.

Pricing and Fees

Currenxie’s pricing model varies between services:

Global account maintenance fee: Free.
Virtual bank collection accounts: Free.
Platform API: Pricing based on a custom quote.
Visa cards: Free admin card, plus monthly HKD fees for additional cards.

There are additional fees on account setup in some cases:

Offshore jurisdictions and certain industries: $50
Complex companies (three or more layers of ownership): $500
Companies with nominee shareholders: $250

Other pricing is based on transaction activity:

Collecting local payments: $0.75 per transfer, plus additional collection fees for offshore companies and some industries.
Sending local payments: $3.00 per transfer.
Sending and receiving SWIFT payments: $8.00 per transfer.
Foreign exchange (FX): 0.10%-0.60% depending on currency pair, with USD/HKD at 0.10% and most major currencies at around 0.35%.

Use Cases and Target Audiences

Currenxie doesn’t list real-world case studies. However, it names a few business categories and describes how they can use the platform.

Small and Medium Enterprises (SMEs)

Currenxie supports businesses in general, noting that small to medium enterprises (SMEs) can use its global accounts to reach new markets. The company claims thousands of businesses currently use its payments platform.

E-Commerce Sellers

Currenxie says that sellers can “plug into” supported marketplaces and gateways. It lists integration with at least 18 external platforms, including support for Amazon.com, Shopify, eBay, and others.

Platforms & Marketplaces

Currenxie also caters to marketplaces through its platform API, offering “seamless connection” with low foreign exchange fees and instant expansion, plus transparent and straightforward payment reconciliation.

Financial Institutions

Currenxie similarly promotes its API to financial institutions. Relevant features for this sector include mass payouts, automated cross-border control, and mid-market rates that may save money on FX conversions.

Compliance and Deposit Protection

Currenxie has entities regulated and/or licensed in several jurisdictions, including Hong Kong, the UK, South Africa, Australia, and Canada.

In the UK, Currenxie is authorised as an Electronic Money Institution (EMI) and accordingly provides safeguarding of relevant customer funds.

This means that customer funds are held in authorised credit institutions separate from Currenxie’s own assets and are prioritised for customer claims in the event of insolvency. However, Currenxie notes that not all jurisdictions in which it operates require or allow this safeguarding practice.

Currenxie also complies with Know Your Customer, Anti-Money Laundering and Counter-Terrorist Financing (KYC/AML/CTF) in various regions globally.

What Are Currenxie’s Biggest Limitations?

We see a few areas where Currenxie’s features fall short:

No personal accounts: Currenxie only provides business accounts.
Extra opening fees: Currenxie may charge an opening fee based on your company’s industry, offshore status, and other details ($50-$500).

Industry limitations: Some industries have extra payment collection fees, and prohibited industries may not be able to use the service at all.
Offshore fees: Offshore companies also face extra collection fees.
No service for United States-based companies: Currenxie doesn’t serve businesses that are registered in the US, though it offers payment coverage within the US and permits American company members.
Cards are aimed at Hong Kong: Currenxie’s payment cards are available to global accounts belonging to Hong Kong companies.

How Currenxie Compares to Payset

Payset	Currenxie
Web access and an upcoming mobile app	Web access and mobile app
Business accounts: No monthly fees as of April 2026 (*may be a limited time offer)	Business accounts: No monthly fee
Personal accounts: No monthly fees as of April 2026 (*may be a limited time offer)	No personal accounts
Free sign-up	Sign up is usually free, but may cost extra for some businesses
Transact in 180+ countries and operate from 70+ countries	Transact across 40+, 50+ or 120+ countries depending on transfer type
Hold, send, and receive 34+ currencies	Use 20+ currencies
Payment cards coming in 2026	HKD payment cards available
Bulk payments (see details)	Mass payments and collections
Team management (see details)	Team features offered (see details)
No transfer limits once compliance requirements are met (see details)	Transfer limits not stated
Regulated in the UK as an EMI and able to serve customers in other regions	Regulated in the UK as an EMI, with licenses and/or services globally
1-3 business day onboarding	3 business day onboarding
UK safeguarding policy	UK safeguarding policy
Friendly to crypto and many other sectors; mainly prohibits adult content and illegal activity	Sign-up is usually free, but may cost extra for some businesses

The Bottom Line

Currenxie is a compelling payment option due to its history and global coverage, but we believe some users may experience obstacles.

Specifically, Currenxie’s lack of personal account offerings, its inability to serve US-registered firms, and additional fees for offshore companies and some industries could make it inaccessible for some users.

At Payset, we aim to outperform on those points by offering personal accounts, accounts for US companies, and accounts in more than 70 countries. We support transactions in 34+ currencies across 180+ countries.

It’s a better time than ever to get on board with Payset. There’s no sign-up fee, and for a limited time, we’re waiving monthly fees. Get started today!

Disclaimer: Pricing, features, and details on this page are based on competing websites at the time of writing (April 2026). Details may change over time, vary by region, and do not cover all service options offered by competitors. Users should verify details with competitors. Payset does not endorse or represent any competitor, nor have competitors endorsed the above content. Payset and related parties disclaim liability for any errors or actions taken based on this content. Information is for general purposes only and offered at the user’s own risk.

References

https://www.business-reporter.co.uk/finance/the-company-driving-the-future-of-cross-border-bank-payments

https://currenxie.com/company/articles-and-guides/currenxie-series-a

https://currenxie.com/products/global-account

https://currenxie.com/use-cases

https://currenxie.com/uk/legal/safeguarding-disclosure

https://currenxie.com/pricing

https://help.currenxie.com/hc/en-us/articles/35432418790169-Schedule-of-additional-and-non-standard-fees

A UK multi-currency account can streamline how you manage your finances. Whether for business or personal use, a multi-currency account provides you with added freedom and flexibility and removes barriers to payments and transfer methods.

Here is everything you need to know about UK multi-currency accounts.

A Payset UK multi-currency account is a single account with which you can hold, send, and receive funds in up to 38 currencies. This allows business or personal account holders to save endless time and money on foreign exchange, and money transfers, which from a traditional bank account would be far more expensive and slow.

From your personal UK-based IBAN account, you can transfer money to bank accounts around the world as well as send and receive free and instant transfers to and from other Payset clients. You can send funds using a diverse network of payment networks, including SWIFT, SEPA, Target2, Faster Payments, CHAPS, and more.

When you exchange funds from one currency to another, there are no margins added to our exchange rates and the fees are clearly displayed before you click send. If you, for example, work with multiple currencies, make purchases in other countries, travel frequently, invest in foreign currencies, pay staff in other countries, or receive payments in other currencies, a multi-currency account can save you time, money, and work compared to a traditional bank account.

There are lots of banking institutions and financial services that will aid you in opening a multi-currency account. Often they can allow you to convert and transfer a considerable number of currencies.

Before you open a UK multi-currency account with any platform or service, make sure you have explored all of the different options available to you and have found the best type of account to suit your financial needs.

How Does a UK Multi-Currency Account Work?

A UK multi-currency account works in the same way as a standard bank account or electronic wallet. Although the services provided will change depending on where you choose to open your account and who you choose to open the account with, all multi-currency accounts should allow you to:

Withdraw money

Send and receive payments in multiple currencies internationally

Access your funds for electronic transfers

Earn interest on your account total

In the same way that fees can occur with a standard bank account you may run into additional charges with a UK multi-currency account.

You could be charged for a number of actions including; making withdrawals, account opening and closure fees, transfer fees, and more.

The frequency or amount of these charges will often vary and if you ask your banking agency they will usually be able to tell you exactly how much you will be charged and which services you will be charged for before you open your account.

Alternative Options to Consider Before Opening a UK Multi-Currency Account

There are many alternatives to opening a UK multi-currency account. For example, there are also money transfer services and online electronic wallets such as Payset that allow you to send your money in over 34 currencies without the need for a UK multi-currency account. You can start sending money across the globe or in person today using your existing bank account.

Frequently asked questions

What is a UK multi-currency account/IBAN?

Are there limits to the amount of money I can send and receive with a UK multi currency account?

Which currencies can I send and receive in my UK multi currency account?

How do I add money to my UK multi currency account?

Types of UK Multi-Currency Accounts

Multi-currency IBAN accounts
Personal multi-currency accounts
Multi-currency accounts for business
Multi-currency cash passports
Multi-currency wallets

Information contained in this publication is provided for general education and information purposes only and should not be construed as legal, tax, investment or other professional advice or recommendation, or an offer of, or solicitation for, any transactions or any other actions (or refraining therefrom); This material has been prepared without taking into account any particular recipient’s financial objectives or situation. We make no warranty, guarantee or representation, whether express or implied, as to the completeness or accuracy of the information contained herein or fitness thereof for a particular purpose; Use of images and symbols is made for illustrative purposes only and does not constitute a recommendation or advice to take or refraining from any action; Use of brand logos does not necessarily imply a contractual relationship between us and the entities owning the logos, nor does it represent an endorsement of any such entity by Pay Set Limited, or vice versa; Market information is made available to you only as a service, and we do not endorse or approve it; Any reference to past performance, predicted returns, or likelihood performance scenarios may not reflect actual future performance and certainly do not guarantee future outcomes.