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Payset Is Now Offering Free Multicurrency Accounts With No Monthly Fees

News and announcements

Mar 18, 2026

4 min. read

Michael Dalton

Author

Key Takeaways

We’re waiving monthly fees for new users for a limited time.
And to add to your savings, there’s still no sign-up fee!

Get access to multi-currency IBANs and FX trading with support for dozens of global currencies when you sign up for Payset.

Payset is pleased to provide new customers with a limited-time offer — sign up now and we’ll waive your monthly access fees!

We believe that access to multi-currency accounts and cross-border payments should be easy to use and affordable, and that you should only pay for what you use. That’s why we’re eliminating monthly fees for the duration of this offer.

You’ll also benefit from free sign-up and our tiered FX rate structure, giving you significant savings compared to our previous fee model.

Whether you’re sending global payments, converting currencies on our FX platform, or managing team finances, it’s a great time to get started with Payset.

Check our pricing page for the latest details.

What’s Included in an Account?

Multi-Currency IBAN Accounts

Your new Payset account provides access to dozens of currencies (including GBP, EUR, and USD) and several domestic and local payment networks, giving you nearly global coverage whether you’re an individual or business user.

At sign-up, we provide each account with at least one IBAN number so you can bank like a local in a key global region. In some cases, depending on your business model and expected account usage, we may issue your company up to two more IBANs.

FX Trading With Real-Time Rates

You’ll also get access to Payset’s built-in FX trading platform, allowing you to exchange 38 currency pairs at affordable, real-time rates.

It’s fully transparent: you’ll always see the full conversion fee, including the interbank rate and Payset’s own margin, before you trade. And our new tiered FX rate system means you’ll get better rates the more you use the platform.

See our currency exchange portal to estimate your costs and savings.

Administration Tools

That’s not all: with our team management features, your business can add individual members and adjust their spending permissions.

Plus, our bulk and scheduled payment tool is ideal if you need to pay a large number of partners, contractors, or other parties. Just upload a spreadsheet and you’ll be able to execute all of your transactions at once with just a few clicks.

Upcoming Features

Finally, we’re gearing up to launch several more features this year, including crypto wallets in the EU and debit cards in multiple regions.

See this blog post for a sneak peek at what’s coming!

Our Pricing vs. the Competition

With Payset, you get more than just free sign-up and waived monthly fees: you also get affordable, competitive fees all around!

Below, we’ve compared our own rates to competing payment accounts as of March 2026. These estimates are based on publicly available information and are subject to change. Contact the provider to confirm details.

Payset: Top Choice for Global Service

Free sign-up
No monthly fees during the waiver period
Tiered FX trading — the more you trade, the lower your FX margin rates (typically between 0.55%-1%)
Transaction fees starting from £2, depending on payment network (Valid as of March 15, 2026)
Transfers between Payset users are free!

Wise: Simple FX and Transfer Platform

Free sign-up with no monthly fees
Outgoing transfer fees and FX fees from 0.48%; variable incoming fees
Free transfers between Wise users

Bunq: Subscription-Based Banking Alternative

No initial sign-up cost
Monthly business fees from 8-24 EUR with free plan for sole proprietors
FX fees on foreign currency accounts starting at 0.5% network fee
Highly variable transaction fees

Revolut: Tiered Plans with Variable Costs

No sign-up cost — monthly fees from 10-90 EUR and higher
Free transfers under plan allowance and free same-platform transfers
FX fees: 0.6% if above plan allowance, plus 1% outside of market hours

Payoneer: Flexible Global Payment Network

No sign-up cost and no monthly fees
Annual maintenance fee of ~$30 if minimum received amount is not met
Highly variable FX rates and transaction fees
Free to receive, but not send, funds between Payoneer users

How Payset Can Help

Let’s recap what you get with Payset:

No sign-up fee on multicurrency business accounts
Monthly fees waived during the promo period – a limited-time offer
Hold, send, and receive 34 currencies in your account
Trade 38 currency pairs instantly on our FX exchange

Access top payment networks like SEPA, SWIFT, CHAPS, and more
Bulk scheduled payments and team management tools

Sign Up Today

It’s a better time than ever to get started with Payset. Our no-fee registration policy is an ongoing feature — but the monthly fee waiver is a limited-time offer that you won’t want to miss!

References:

https://wise.com/ca/pricing/
https://www.bunq.com/en-us/business-account/banking-plans
ttps://help.bunq.com/articles/what-are-the-foreign-currencies-accounts-fees
https://www.bunq.com/en-us/documents/pricing-sheet
https://www.revolut.com/en-IS/business/business-account-plans/
https://help.revolut.com/business/help/receiving-payments/sending-money-to-an-external-bank-account/transfer-fee/ “Transfers to other Revolut accounts (Business or personal) are free, received quickly, and don’t count towards your allowance”
https://www.revolut.com/en-US/business/currency-exchange/
https://www.payoneer.com/about/pricing/

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.