Overview
Paysend Business, at a glance.
Paysend Business is an e-money institution headquartered in the United Kingdom, regulated by FCA, US state and territorial money-transmitter regulators, FINTRAC, Revenue Québec. Pricing is agreed with each client. Opening an account takes 3–5 days.
Why businesses pick Paysend Business
- Balances in 33 currencies, with GBP, EUR and USD accounts
- Currency exchange at 0.4%
- A personal account manager and round-the-clock support
- Can pay out to Visa and Mastercard cards worldwide
- From one of the larger UK e-money institutions
Watch out for
- Only for companies registered in the UK
- Monthly and opening fees are not published
- SWIFT payments cost £12 to £35
- A long list of unsupported industries, including affiliate marketing, company formation agents, dating and energy trading
- Charities, foundations and public bodies cannot apply
- No business cards
Business fit
Will Paysend Business accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Paysend Business's published rules
Likely fit
Paysend Business lists both United Kingdom companies and SMEs as accepted.
Paysend Business does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Paysend Business publishes about the businesses it takes on.
Who Paysend Business serves
- Import and export
- Startups and SMEs
- E-commerce
All 5 industries on Paysend Business's accepted list
- SMEs
- Importers/exporters
- Suppliers and partners
- Employees and contractors
- Payroll and global business payments
Not supported
Industries and countries Paysend Business does not accept, from its own published lists.
Industries
- Adult entertainment
- Affiliate marketing
- Carbon credits
- Clairvoyants, astrologers, psychics, fortune tellers, tarologists, numerologists and other pseudoscience practices
- Company formation agents
- Chemicals
- Contextual advertising
- Dating/online dating sites
- Domestic and international public work contracts and construction, including post-conflict reconstruction
- Drug paraphernalia
- Electronic cigarette sales
- Energy traders
- Escort services
- Gambling or casinos
- Government grants
- Home-based charities
- Jewelry stores
- Medication and prescription drugs
- Mining and extraction including precious metals, diamonds and gemstones
- MLM business opportunities
- Nuclear industry
- Pawning/pawn shops
- Payday loans
- Pharmaceutical companies
- Political organizations
- Ponzi/pyramid schemes
- Pornography
- Precious metals and stones, including diamond traders
- Production or trade in alcoholic beverages
- Religious organizations
- Sale of fireworks
- Sale or trade of CBD and related products
- Sale or trade of firearms, ammunition, weapons or explosives
- Scrap metal traders
- Sex toys/online sex shops
- Shell banks
- Telemarketing
- Tobacco sales
- Trade of ivory and protected-species items
- Unauthorized resale of luxury goods including watch traders
- Unlicensed financial services
- Unlicensed money transmitters
- Unregulated charities
- Applicants issuing bearer shares
- US-only: FDA-classified medical devices; alcohol; cryptocurrency firms; tobacco; dietary supplements; seeds/plants; regulated financial services; outbound telemarketing
Countries
- Not published
Coverage
Where can you use Paysend Business?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
33 currencies
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- AED
- BGN
- BHD
- CNY
- CZK
- DKK
- HKD
- HRK
- HUF
- ILS
- KES
- KWD
- MXN
- NOK
- NZD
- OMR
- PLN
- QAR
- RON
- SAR
- SEK
- SGD
- THB
- TRY
- UGX
- ZAR
Payment reach
Not published
Who can apply
Company incorporation countries1 countries · show list
- United Kingdom
Owner nationality
Not publishedOwner residency
Not publishedCompany types
Private limited companies, Public limited companies, Limited liability partnerships (LLP), Partnerships and limited partnerships
Pricing
What does Paysend Business cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Not published
Monthly fee
Not published
Business account
Custom
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| SWIFT / international | £12–35 | Fixed fee; varies by plan · By destination, in four bands |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | 0.4% | Percentage of the amount |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply online
Register the company on Paysend Business.
- 2
Company documents
Upload the registration documents and proof of the operating address.
- 3
People
Provide identity documents for directors and owners.
- 4
Review
Paysend reviews the application; it takes up to five working days with correct documents.
Documents you need
- Director passport/ID
- IDs for authorised persons and 25%+ UBOs/shareholders
- Company legal/trading/registration/address/incorporation information
- Constitutional documents/articles
- Proof of active status
- Operating-address proof within three months
- Recent business-bank statement
- Applicable regulatory licences
FAQ
Your questions, answered.
Is Paysend a bank?
No. Paysend Plc is an e-money institution authorised by the UK FCA, reference 900004. The group is also licensed in the United States and Canada.
Who can open a Paysend Business account?
Companies registered in the UK: private and public limited companies, LLPs and partnerships. Charities, private foundations and public sector bodies cannot apply.
How much does Paysend Business cost?
Opening and monthly fees are not published. Currency exchange costs 0.4%, and a SWIFT payment £12 to £35 depending on the destination.
How long does it take to open a Paysend Business account?
Up to five working days with correct documents.
Which businesses does Paysend Business not support?
Its list of 45 unsupported industries includes adult entertainment, affiliate marketing, carbon credits, company formation agents, chemicals, dating sites, e-cigarettes, energy traders and gambling.
Alternatives
How Paysend Business compares.
If Paysend Business is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 Paysend BusinessThis pageE-money institution |    | UK companies33 currencies |
 Wise BusinessE-money institution |  | Low FX costsStandard businesses |
 Revolut BusinessBank |  | Cards and spend controlsStartups and SMEs |
 Equals MoneyPayment institution | | Multi-currency IBANExpense cards |
 AirwallexE-money institution |   | Global accountsOnline businesses |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.