A Special Sneak Peek of the New Payset Platform!
Over the coming months, Payset will be launching a completely new platform with advanced features, new services, better security, faster transactions, and more. Today we wanted to give our blog readers a special preview of the new Payset!
New Interface
The user interface is getting a complete redesign for mobile and desktop. It's sleeker, faster, and more user-friendly.
Permissions Management
Add multiple members of your company to your account and easily manage their permissions.
Easily Organize Beneficiaries
Pay online or in-person at millions of merchants worldwide. Our new debit cards will be accepted wherever major credit cards are accepted.
Manage Multi-Signature Access
Easily add user rules and set multi-signature access parameters.
Track Your Transaction Status
Easily track all your transactions in 38 currencies from a single dashboard.
Currency Exchange
Exchange between 34 currencies from a single, more streamlined, smoother dashboard.
Higher Security
Set SMS notifications on particular account activities and set up 2FA to increase security.
Easy Report Creation
Easily generate and download custom account statements.
If you'd like more information about the new platform or about what Payset can do for your business, you can book a free demo with one of our experts and ask us anything!
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- Funds can be deposited and withdrawn from the account for a small fee.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 add money to my account?
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.
Types of Multi-Currency Accounts
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