Navigating the UK Payment System: Unlocking Multi-Currency Business Accounts

Imagine the ease of establishing corporate multi-currency accounts right from the heart of the renowned UK payment system. At International Wealth, we’re your gateway to forging seamless connections, especially for companies operating in high-risk sectors. Our robust presence across five countries, including a central hub in London, coupled with an official license dating back to 2017, underscores our reputation for reliability.

Setting up a corporate multi-currency account within the UK payment system is a swift process, achievable within just five working days.

Corporate Account Advantages within the UK Payment System

The UK payment system has a well-earned reputation for serving global clients with distinction. It boasts a wide spectrum of services and opportunities, encompassing:

  1. Multi-Currency Operations: Effortlessly manage up to four major currencies and conduct transactions in over 200 different currencies.
  2. Global Reach: Seamlessly send funds to more than 170 countries worldwide.
  3. Personalized IBANs: Enjoy the benefits of a tailor-made IBAN designed to optimize your banking transactions.
  4. Trusted Payment Intermediary: Recognized as an intermediary for Visa and Mastercard, the UK payment system ensures a secure and dependable payment processing experience.
  5. Swift, SEPA, and Target2 Excellence: Harness the power of rapid and efficient worldwide transfers.
  6. High-Risk Partnerships: Actively seeking collaborations with businesses in high-risk industries, we provide customized solutions to address unique requirements.
  7. Comprehensive Banking Suite: Access a comprehensive suite of banking services, including an e-wallet for digital transactions and a mass payout system, all consolidated into a single product.
  8. Effortless Onboarding: The UK payment system offers a swift and streamlined onboarding experience, with a commitment to completing the process within just five working days.

For more in-depth insights or to kickstart your journey with the UK payment system, don’t hesitate to reach out to our team of International Wealth consultants.

Countries Excluded from the UK Payment System

The UK payment system adheres to specific policies that prohibit collaboration with certain countries. Transfers to and from these jurisdictions are not supported, and individuals from these nations may not hold more than a 20% stake ownership in any company intending to partner with the payment system. However, exceptions apply to individuals with residency permits from other countries or those who permanently reside outside their native country.

The list of unsupported countries includes:

  • Albania
  • Afghanistan
  • Bahamas
  • Barbados
  • Belarus
  • Botswana
  • Ghana
  • Zimbabwe
  • Iraq
  • Iran
  • Iceland
  • Yemen
  • Cambodia
  • Cuba
  • Mauritius
  • Martinique
  • Mongolia
  • Myanmar
  • Nicaragua
  • Pakistan
  • Panama
  • Russia
  • North Korea
  • Syria
  • United States (transactions possible under specific conditions)
  • Uganda
  • Jamaica

Document Review and Approval

To ensure a seamless onboarding process, it’s imperative to prepare the necessary digital scan documents for your company, its directors, and beneficiaries. You’ll find a full list of documents required by the UK payment system on our website. Within the UK payment system, the process of document review and approval typically spans five business days. 

Commissions and Fees

The fees and commissions associated with the UK payment system are contingent on your risk parameters:

Risk Levels 1 and 2:

  • Account opening fee: EUR 500-1500
  • Monthly payment: EUR 100 – 200
  • Incoming transfers and payments:
  • SEPA | 0.1% – 0.2% fix EUR 2.5
  • SWIFT | 0.1% – 0.3% fix EUR 12.5 | From 0.5% fix EUR 2.5

Outgoing transfers and payments:

  • SEPA – 0.2%-0.4% fix EUR 2.5
  • SWIFT – 0.2%-0.5% fix EUR 2.5

Risk Level 3:

  • Account opening fee: EUR 2000
  • Monthly payment: EUR 300

Incoming transfers and payments:

  • SEPA – from 0.5% fix EUR 2.5
  • SWIFT – from 0.5% fix EUR 2.5

Outgoing transfers and payments:

  • SEPA – from 0.5% fix EUR 17.5
  • SWIFT – from 0.5% fix EUR 70

Opening Accounts in the UK Payment System: Key Considerations

  1. To initiate the account opening process within the UK payment system, a service fee of EUR 2,999 applies per corporate account.
  2. Ensure you submit all the necessary documents for verification. In cases of missing documents or errors, our International Wealth experts will provide guidance on necessary corrections to prevent potential rejections from the payment system.
  3. Following settlement of the UK payment system fee, await their decision.
  4. Upon receiving a positive decision, you’ll be furnished with your account details, granting you the ability to initiate transactions seamlessly.

For a deeper understanding of the benefits of a multi-currency account within the UK payment system, we invite you to explore further information. Should you have inquiries or require consultations with our International Wealth experts, please do not hesitate to contact us at

In summary, navigating the UK payment system and unlocking the potential of multi-currency business accounts offers a host of advantages for international businesses. With a strong presence and reputation for reliability, the UK payment system serves as a robust platform for conducting global transactions while catering to various risk profiles. By adhering to document requirements, understanding fees, and seeking professional guidance, businesses can seamlessly integrate into this established and dependable financial ecosystem.

Vivek is a published author of Meidilight and a cofounder of Zestful Outreach Agency. He is passionate about helping webmaster to rank their keywords through good-quality website backlinks. In his spare time, he loves to swim and cycle. You can find him on Twitter and Linkedin.