Payset vs Payoneer: which one fits your business best?
Whether you’re scaling internationally or managing multiple currencies, find out why companies are choosing Payset over
Payoneer.
Multi-currency IBANs
Onboarding Time
1-3 days
2-5 business days
Crypto-friendly
Not crypto-supported
Minimum initial deposit
to open an account
May require transaction activity to stay active
Account setup fees
No
Local account details
(UK & EU)
Transparent
conversion fees
0.5%–2% FX markup depending on volume
Human
customer support
Ticket/email-based, no dedicated manager
Total score:
8/8
6/8
Based on publicly available information, June 2025.
Payoneer is great for freelancers and marketplaces, but Payset gives businesses the edge — faster onboarding, crypto-friendly accounts, real human support, and fully transparent FX with no hidden fees.
Get more from your Payset account
Instantly exchange 38 currencies
Make affordable, instant exchanges between 38 currency pairs around the clock.
Currency exchange
Global Payments
3x Faster, Zero-Hassle
Multi-currency accounts
Receive instant payments from around the world like a local
Receive money
Payset was built for complex corporate structures
We specialize in serving a wide range of sophisticated corporate structures, including:
Holding companies
Startups
Cross-border entities
Investment vehicles
Multi-layer ownership
Travel and hospitality
Events business
Multi-user access
&
permission control
Multi-currency IBANs
under one account
Supports layered
ownership
Personalised
support
Say goodbye to generic help and hello to personalised service that’s all about you and your unique business needs. Your account manager is always available to help.
Knowledge
Our expertise saves you time and money on global payments.
Advice
Our live help and hints ensure smooth transaction processing.
Analysis
Detailed reports help you make informed decisions and optimize your finances.
Send and receive international payments like a local
United Kingdom
USA
Germany
Denmark
Luxembourg
Send, receive, and hold the following currencies with a multi-currency account from Payset.
Currency
Storing Fee
Safe- guarding
Australian Dollar
Free
Bahrain Dollar
Free
Brazilian Real (BRL)
Free
Bulgarian Lev
Free
Canadian Dollar
Free
Chinese Yuan
Free
Croatian Kuna
Free
Czech Koruna
Free
Danish Krone
Free
Euro
Free
Hong Kong Dollar
Free
Hungarian Forint
Free
Indian Rupee
Free
Israeli Shekel
Free
Japanese Yen
Free
Kenyan Shilling
Free
Kuwait Dinar
Free
Malaysian Ringgit
Free
Mexican Peso
Free
Currency
Storing Fee
Safe- guarding
New Zealand Dollar
Free
Norwegian Krone
Free
Omani Rial
Free
Philippines Peso
Free
Polish Zloty
Free
Qatar Rial
Free
Romanian Leu
Free
Saudi Riyal
Free
Singapore Dollar
Free
South African Rand (ZAR)
Free
Swedish Krona
Free
Swiss Franc
Free
Thai Baht
Free
Turkish Lira
Free
UAE Dirham
Free
Ugandan Shilling
Free
UK Sterling
Free
US Dollar
Free
Currency
Storing Fee
Safe- guarding
Australian Dollar
Free
Bahrain Dollar
Free
Brazilian Real (BRL)
Free
Bulgarian Lev
Free
Canadian Dollar
Free
Chinese Yuan
Free
Croatian Kuna
Free
Czech Koruna
Free
Danish Krone
Free
Euro
Free
Hong Kong Dollar
Free
Hungarian Forint
Free
Indian Rupee
Free
Israeli Shekel
Free
Japanese Yen
Free
Kenyan Shilling
Free
Kuwait Dinar
Free
Malaysian Ringgit
Free
Mexican Peso
Free
New Zealand Dollar
Free
Norwegian Krone
Free
Omani Rial
Free
Philippines Peso
Free
Polish Zloty
Free
Qatar Rial
Free
Romanian Leu
Free
Saudi Riyal
Free
Singapore Dollar
Free
South African Rand (ZAR)
Free
Swedish Krona
Free
Swiss Franc
Free
Thai Baht
Free
Turkish Lira
Free
UAE Dirham
Free
Ugandan Shilling
Free
UK Sterling
Free
US Dollar
Free
Team management
Add any number of users to your account and set unique permissions for each.
Spending rules
Set unique transaction rules for each user based on volume or type.
Multi-signature
Assign requirements for team members to sign-off on certain transactions.
Send, receive payments to/from the following regions with a multi-currency account from Payset.
Åland Islands
Algeria
American Samoa
Andorra
Angola
Anguilla
Antarctica
Antigua and Barbuda
Argentina
Armenia
Aruba
Australia
Austria
Azerbaijan
Bahamas
Bahrain
Bangladesh
Barbados
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bonaire, Sint Eustatius and Saba
Bosnia-Herzegovina
Botswana
Bouvet Island
Brazil
British Indian Ocean Territory
British Virgin Islands
Brunei Darussalam
Bulgaria
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Chad
Chile
China
Christmas Island
Cocos Islands
Comoros
Cook Islands
Costa Rica
Côte D'Ivoire
Croatia
Curacao
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Ecuador
Egypt
Equatorial Guinea
Estonia
Falkland Islands
Faroe islands
Fiji
Finland
France
French Guiana
French Polynesia
French Southern Territories
Gabon
Gambia
Georgia
Germany
Ghana
Gibraltar
Greece
Greenland
Grenada
Guadeloupe
Guam (GUM)
Guernsey
Guinea
Heard Island
Hong Kong
Hungary
Iceland
India
Indonesia
Ireland
Isle Of Man
Israel
Italy
Jamaica
Japan
Jersey
Jordan
Kazakhstan
Kenya
Kiribati
Kosovo
Kuwait
Kyrgyzstan
Lao People's Democratic Republic
Latvia
Lesotho
Liberia
Liechtenstein
Lithuania
Luxembourg
Macau
Macedonia
Madagascar
Malawi
Malaysia
Maldives
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mayotte
Mexico
Micronesia
Monaco
Mongolia
Montenegro
Montserrat
Morocco
Mozambique
Namibia
Nauru
Nepal
Netherlands
Netherlands Antilles
New Caledonia
New Zealand
Niger
Niue
Norfolk Island
North Mariana Islands
Norway
Oman
Palau
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Pitcairn
Poland
Portugal
Puerto Rico
Qatar
Republic of the Congo
Réunion
Romania
Rwanda
Saint Berthélemy
Saint Helena, Ascension and Tristan
Saint Martin (French part)
Saint Pierre and Miquelon
Samoa
San Marino
São Tomé and Principe
Saudi Arabia
Serbia
Seychelles
Sierra Leone
Singapore
Slovakia
Slovenia
Solomon Islands
South Africa
South Georgia
South Korea
Spain
Sri Lanka
St Kitts & Nevis
St Lucia
St Maarten
St. Vincent and the Grenadines
Suriname
Svalbard and Mayen
Swaziland
Sweden
Switzerland
Taiwan
Tajikistan
Tanzania
Thailand
Timor-Leste
Togo
Tokelau
Tonga
Trinidad & Tobago
Tunisia
Turkey
Turks & Caicos
Tuvalu
Uganda
United Arab Emirates
United Kingdom
United States
United States Minor Outlying Islands
United States Virgin Islands
Uruguay
Uzbekistan
Vatican City State
Vietnam
Wallis and Futuna
Zambia
Your money protected by the laws of England and Wales
Safeguarding statement
Robust transaction security
Security
Leave your details
and let's talk.
Open a multi currency business account
Join 3,000+ companies already managing global payments with Payset.
Fast onboarding • FCA regulated • Multi-currency ready
What is a multi-currency IBAN account?
A Payset multi-currency account allows you to send and receive money in 34 different currencies and exchange between up to 38 currency pairs, all within the same account.
You can deposit and withdraw funds, convert currencies at competitive exchange rates, and hold your chosen currencies to capitalize on market movements.
A Payset multi-currency account allows startups and business owners to receive payments from clients virtually anywhere in the world and pay suppliers, staff, and contractors quickly and affordably in their chosen currency.
- Account holders can send and receive money with other Payset users for free.
- Payset supports various payment networks, including SWIFT, SEPA, ACH, Fedwire, Faster Payments, BACS, and CHAPS.
- Once you register an account, you will be provided with a Virtual IBAN (International Bank Account Number), which makes all of these transfers easy.
- We support local payments in key regions. For example, transactions in USD, EUR, CAD, DKK, and GBP can be processed using a local IBAN, through the local payment networks, which is cheaper and faster than international payments.
Are there limits on the amount of money I can send and receive with a multi currency IBAN?
No, there are no transaction limits on Payset multi-currency accounts.
However, higher-volume transactions may require additional anti-fraud verification. If you plan to make a large transaction, contact us in advance to avoid verification delays.
Which currencies can I send and receive in my multi currency business account?
Payset supports the following currencies.
For incoming transfers, the country of origin must be one of our permitted jurisdictions
Outgoing and incoming payments can not be sent to or from our restricted countries.
- Australian Dollar (AUD)
- Bahrain Dinar (BHD)
- Canadian Dollar (CAD)
- Chinese Yuan (CNH)
- Czech Koruna (CZK)
- Danish Krone (DKK)
- Euro (EUR)
- Hong Kong Dollar (HKD)
- Hungarian Forint (HUF)
- Indian Rupee (INR)
- Indonesian Rupiah (IDR)
- Israeli Shekel (ILS)
- Japanese Yen (JPY)
- Kenyan Shilling (KES)
- Kuwait Dinar (KWD)
- Malaysian Ringgit (MYR)
- Mexican Peso (MXN)
- New Zealand Dollar (NZD)
- Norwegian Krone (NOK)
- Omani Rial (OMR)
- Philippine Peso (PHP)
- Polish Zloty (PLN)
- Qatar Rial (QAR)
- Romanian Leu (RON)
- Saudi Riyal (SAR)
- Singapore Dollar (SGD)
- South African Rand (ZAR)
- Swedish Krona (SEK)
- Swiss franc (CHF)
- Thai Baht (THB)
- Turkish Lira (TRY)
- Ugandan Shilling (UGX)
- UK Sterling (GBP)
- UAE Dirham (AED)
- US Dollar (USD)
And many more – click above on “Supported currencies” to see the full list
How does Payset ensure the security of my multi-currency account?
Payset employs advanced security measures including encryption, two-factor authentication (2FA), and continuous monitoring to protect your funds and personal information. Additionally, all transactions are processed through secure banking networks, ensuring your multi-currency account remains safe and compliant with international financial regulations.
How do I add new currencies to my Payset account?
To add a new currency to your Payset account, simply log in to your dashboard and click on the “Add Currency” option located next to your existing currency wallets. From the dropdown menu, select the desired currency, and a new wallet for that currency will be created. You can then start sending, receiving, and exchanging funds in that currency immediately.
Do you support Danish IBAN?
We provide Danish local DKK IBANS for companies. Click the link to read more information, or simply sign up.
How fast can my business account be opened?
Most Payset accounts are approved within 1–3 business days once all documents are verified.
Priority onboarding is available for regulated or time-sensitive businesses.
What documents do I need to open a Payset business account?
Typically:
Certificate of incorporation
Proof of business address
Shareholder & director IDs
Brief description of business activity
Once you apply, your onboarding manager will guide you step-by-step.
Do I get local IBANs for each currency?
Yes, we provide dedicated local IBANs for major currencies like EUR, GBP, and USD, allowing you to pay and get paid like a local in key markets.
Are there any setup fees?
Opening a Payset account is free.
Transparent pricing applies only to transfers and FX conversions — with no hidden charges.
Can I make SWIFT and SEPA transfers?
Yes. You can send and receive both SWIFT (international) and SEPA (EU) payments directly from your Payset account.
Is Payset a regulated financial institution?
Absolutely. Payset is an FCA-registered Electronic Money Institution (EMI).
Client funds are held in segregated safeguarding accounts with tier-1 banking partners.
What makes Payset different from Wise or Revolut?
Dedicated IBANs (not shared pools)
Personalised business onboarding
Human support with account managers
Broader risk acceptance and B2B focus
Is there a minimum deposit or balance requirement?
No, there’s no minimum balance to maintain your account.
You can fund it as needed to process payments.