Payset prespective
May 6, 2025

Onboard a Global Payments Solution in 10 Minutes With Payset 

Time is money — and at Payset, we respect both. With our foolproof onboarding process, you can apply for your account in less than 10 minutes, and our team of Paysetters will get you ready to transact in under 48 hours.

We know that busy companies need to find a reliable global payments solution with minimal time and effort, and we’re here to make it happen. Plus, our team of Paysetters provides expert support every step of the way.

Here’s how easy it is to open an account.

Apply in Just 10 Minutes

At Payset, we use automated know-your-customer (KYC) verification to reduce the need for manual checks. This helps us quickly verify applicant identities, streamlining the most time-consuming part of the application process, meaning that you can complete our onboarding in about 10 minutes.

Once you submit your application, we can approve most accounts and have you up and running within 48 hours. 

See more about our application process here.

The Documentation Requirements

Our streamlined onboarding process is not only fast, it also requires only minimal documentation when you sign up.

If you’re a business user, you’ll need to provide (1) a proof of address, (2) bank statements, (3) business incorporation documents, and (4) identity verification documents for key members of your company.

If you’re an individual, you’ll need to submit (1) a government-issued ID, (2) power of attorney documents, and (3) a “selfie” photo via a link we provide.

See this page for details about required documentation.

For companies of certain risk-levels, to prevent fraud and adhere to AML laws, we may ask for additional documents following your initial application, when you transact with a new counterparty, and when you move funds to or from an external account. This is an essential way we keep Payset client accounts secure.

Rest Easy With Regional Compliance

Every region has different KYC and regulatory obligations, and Payset’s global reach means that we can help you make payments to/from almost anywhere in the world.

We support payments to over 180 countries and our compliance team keeps up to date with the latest regulatory changes around the globe. 

This means that you can confidently make Payset a key part of your overall compliance strategy as you work to meet global standards. 

See our permitted jurisdictions page to find out if Payset supports payments to/from the regions where you do business.

Enjoy Low Monthly and Transactional Fees

With Payset, you’ll pay affordable monthly fees and per-transaction fees.

See our pricing page for more details and other costs.

Get Expert Support

Our dedicated support team is available five days a week to assist with onboarding. Visit this page to see our working hours and contact us.

We can walk you through the registration process, help you find the right documentation, and answer any other questions you might have. You can also talk to our sales team for pricing details and demos — just open a request.

If you’d like more information to determine if Payset is right for you, visit our extensive help center for FAQs or contact us with specific queries.

Fast onboarding, strong regional compliance, expert support, and competitive service fees — all available in under ten minutes.

open account

Frequently asked questions

What is a multi-currency account/virtual IBAN?

A Payset multi-currency account allows you to receive money in 34 different currencies and send money in up to 38 currencies, 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.

  • Funds can be deposited and withdrawn from the account for a small fee.
  • Account holders can send and receive money with other Payset users for free.
  • Depending on your region, you can use various payment networks from your Payset account, 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 provide you with local payments and collections. For example, transactions in USD, EUR, CAD, and GBP are processed through the local payment networks, which is far cheaper and takes minutes as opposed to days

Are there limits on the amount of money I can send and receive?

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.

How is Payset regulated?

Payset is regulated as an authorized Electronic Money Institution by the UK Financial Conduct Authority. Our activities are also regulated by the Payment Services Regulation 2017 and the Electronic Money Regulation 2011 (SI 2011/99).

How do I send money from my account?

Once you have opened your verified IBAN account and added money to a balance, transferring funds is simple.

Simply log in into your account and add a beneficiary, then simply “make a transfer” in your preferred currency to that beneficiary.

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.

Manage Global Payment with a Payset Business Account

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Rating star

I wanted to express my appreciation for the successful cooperation between my firm and Payset. I would like to point out in particular the professionalism, the manner in which requests are handled, the quick response time and the satisfaction of the clients. I strongly believes that we will continue to move forward and create many collaborations in the future

Cpadvice
Asaf and the team
CPADVICE LTD
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The experience of using PaySet account was really interesting. It is one of the most ergonomic systems I have ever used. Support provided is fast and enquires are resolved in no time. I am very satisfied for using this account! Keep going guys!

Lytria
Christina Loizou
Accountant at Lytria
Rating star

Through our experience with Payset we are happy to say the services provided were accommodated to our needs perfectly and were performed professionally. The support and customer care is fast and efficient, no question or request is left unanswered or unresolved. 10/10

Canadap
Victoria
Payments and Risk Manager, CanadaP LTD
Rating star

For the past year, we have worked hand in hand with Payset Limited to assist us with numerous payments related services. At no one time have they failed me, and they have always been on time, making them one of our top reliable business partners.

Clearsky network
Payments Team
Clearsky Network

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