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Payset Now Offers AED Payments to United Arab Emirates Companies

News and announcements

Feb 9, 2026

4 min. read

Michael Dalton

Author

We’ve added support for the United Arab Emirates dirham (AED) for companies in the region. Now you can transact globally in one of the Middle East’s leading currencies right from your Payset account!

Key Takeaways

Payset now offers payments in the United Arab Emirates dirham (AED)
Companies in the UAE can now use it alongside our other supported currencies
Learn more about how we support UAE companies below — or reach out to find out how we can provide a solution tailored to your business

Payset is pleased to offer a new feature to companies in the United Arab Emirates: payments in the United Arab Emirates dirham (AED)!

This expands our past offerings: we previously onboarded users in the UAE, but this marks support for the regional currency for the first time.

It’s a vital feature for businesses in the region, providing better support for payments in the local currency alongside our broader cross-border and multi-currency features.

In fact, AED is just one of many global currencies we support — see the full list here.

Why We Support AED

We recognize the dirham as one of the MENA region’s most important and trusted currencies. It’s widely used and has exceptional stability thanks to its peg with the U.S. dollar, which has been set at an exchange rate of 3.67 AED to 1 USD since 1997.

For businesses, this means reliable prices, reduced currency risk, and predictable conversion rates, including through Payset’s built-in FX exchange.

It’s the backbone of several sectors in the United Arab Emirates, from the region’s world-renowned financial sector to its thriving tourism sector.

No matter your area of operations — from industry to holding companies and travel and events — we can help your UAE business manage an account that includes support for the currency.

It’s all part of our efforts to provide fast, affordable cross-border payments in the UAE and beyond alongside dozens of other supported currencies and payment methods.

How Payset Benefits UAE Businesses

At Payset, we offer a wide variety of features:

Support for 34 currencies — hold and transact AED, USD, EUR, and more
Global cross-border transfers across more than 180 countries
Built-in currency exchange, supporting 38 currency pairs with real-time rates
Support for clients in top UAE sectors, including financial services, travel and tourism, construction, logistics and transport, and more
Bulk payments and team management to streamline your company activities

Safety and security with basic account protections, safeguarding that isolates customer funds, UK registration, GDPR compliance, and other best practices
Personalized support so you can get the help you need when you need it

Get Started — No Initial Cost

Not sure if Payset is right for you? Reach out to our team to find out how we can help your company, whether you’re based in the UAE or elsewhere.

Ready to start? Sign up for free with no setup 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.