providing multi-currency IBAN accounts Pay Set Limited (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. Pay Set is focused on providing multi-currency IBAN accounts. The company offers personal IBAN accounts, business IBAN accounts, prepaid cards, payment gateways, international money transfers, local money transfers, global pay roll, foreign exchange to private individuals, freelancers, entrepreneurs, small and medium sized businesses, enterprises, financial institutions, startups, marketplaces, affiliate programs. In 2022 Pay Set Limited had total assets of 26.96 mln GBP. Pay Set is ranked #3 EMI in Europe, #2 EMI in the United Kingdom.
Aland Islands
Australia
Belize
British Virgin Islands
Canada
Cayman Islands
China
European Economic Area
French Guiana
Gibraltar
Guadeloupe
Guernsey
Hong Kong
India
Isle of Man
Israel
Japan
Jersey
Korea, Republic of
Marshall Islands
Martinique
Mayotte
Monaco
Reunion
Saint Martin
Singapore
South Africa
Taiwan
United Kingdom
United StatesA leading virtual IBAN account provider
Easily pay and get paid globally
Dedicated IBAN accounts and currency exchange
(*)as stated by the company itself
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, Pay Set Limited is assigned the overall rating 4.87 (excellent) which is explained in details below.
| Overall Rank | #3 EMI in EUROPE, #2 EMI in the UNITED KINGDOM | |
|---|---|---|
| Operating Environment | Very Friendly | (4.81) |
| Product Range | Broad | (3.43) |
| Market Niche | Very Broad | (4.94) |
| Company Background | Strong | (3.56) |
| Customer Support | Excellent | (4.56) |
| Customer Sentiment | Excellent | (4.59) |
| Transparency | Very High | (4.94) |
| Overall Rating | Excellent | (4.87) |
TheBanks.eu has also identified the following pros and cons of the company:
Personal Multi-Currency Account is a multi-currency account, allowing the account holder to have funds in the following currencies:
AUD (Australian dollar)
BHD (Bahraini Dinar)
BGN (Bulgarian lev)CAD (Canadian dollar)CNY (Renminbi (Chinese) yuan)
HRK (Croatian kuna)
CZK (Czech koruna)
DKK (Danish krone)EUR (Euro)HKD (Hong Kong dollar)
HUF (Hungarian forint)ILS (Israeli shekels)JPY (Japanese yen)
KEN 
KWD (Kuwatiti Dinar)
MXN (Mexican peso)
NZD (New Zealand dollar)
NOK (Norwegian krone)
OMR (Omani Rial)
PLN (Polish złoty)
QAR (Qatari Riyal)
RON (Romanian new leu)
RUB (Russian ruble)
SAR (Saudi riyal)SGD (Singapore dollar)
SEK (Swedish krona/kronor)
CHF (Swiss franc)
THB (Thai baht)
TRY (Turkish lira)
AED (UAE dirham)
UGX (Ugandan Shilling)GBP (Pound sterling)USD (US dollar)A payment card can be ordered together with Personal Multi-Currency Account.
Dedicated IBANs assigned to Personal Multi-Currency Account belong to the United Kingdom.
Personal Multi-Currency Account is offered to all countries.
Personal Multi-Currency Account is offered with a single pricing plan for all customers.
Simplify your international trading with a dedicated virtual IBAN account
Hold up to 34 currencies in your dedicated IBAN account
Convert 38 currency pairs instantly, 24/7
Access live rate quotes before a conversion is made
Transfer funds to a beneficiary bank account anywhere in the world
SWIFT, SEPA, Target2, Faster Payments, CHAPS, and more
Make instant free payments to and from other Payset clients
(*)as stated by the company itself
Business Multi-Currency Account is a multi-currency account, allowing the account holder to have funds in the following currencies:
AUD (Australian dollar)BHD (Bahraini Dinar)BGN (Bulgarian lev)CAD (Canadian dollar)CNY (Renminbi (Chinese) yuan)HRK (Croatian kuna)CZK (Czech koruna)DKK (Danish krone)EUR (Euro)HKD (Hong Kong dollar)HUF (Hungarian forint)ILS (Israeli shekels)JPY (Japanese yen)KEN KWD (Kuwatiti Dinar)MXN (Mexican peso)NZD (New Zealand dollar)NOK (Norwegian krone)OMR (Omani Rial)PLN (Polish złoty)QAR (Qatari Riyal)RON (Romanian new leu)RUB (Russian ruble)SAR (Saudi riyal)SGD (Singapore dollar)SEK (Swedish krona/kronor)CHF (Swiss franc)THB (Thai baht)TRY (Turkish lira)AED (UAE dirham)UGX (Ugandan Shilling)GBP (Pound sterling)USD (US dollar)Prepaid Currency Card (MasterCard) can be ordered together with Business Multi-Currency Account.
Dedicated IBANs assigned to Business Multi-Currency Account belong to the United Kingdom.
Business Multi-Currency Account is offered to all countries.
Business Multi-Currency Account is offered with a single pricing plan for all customers.
Pay Set cards are prepaid cards, rather than debit cards.
Debit vs Prepaid Cards.Debit cards do not have a separate balance and are connected to an account ore-wallet. Such cards are loaded automatically when the account/e-wallet is being topped up.Prepaid cards have a separate balance from an account or e-wallet.These cards have to be loaded manually, usually from the account/e-wallet.
Pay Set cards are issued as both physical (plastic) and virtual cards; plastic cards are delivered to the customer's address.Prepaid Currency Card is a multi-currency card,the funds can be held in different currencies at the same time.
AUD (Australian dollar)BHD (Bahraini Dinar)BGN (Bulgarian lev)CAD (Canadian dollar)CNY (Renminbi (Chinese) yuan)HRK (Croatian kuna)CZK (Czech koruna)DKK (Danish krone)EUR (Euro)HKD (Hong Kong dollar)HUF (Hungarian forint)ILS (Israeli shekels)JPY (Japanese yen)KEN KWD (Kuwatiti Dinar)MXN (Mexican peso)NZD (New Zealand dollar)NOK (Norwegian krone)OMR (Omani Rial)PLN (Polish złoty)QAR (Qatari Riyal)RON (Romanian new leu)RUB (Russian ruble)SAR (Saudi riyal)SGD (Singapore dollar)SEK (Swedish krona/kronor)CHF (Swiss franc)THB (Thai baht)TRY (Turkish lira)AED (UAE dirham)UGX (Ugandan Shilling)GBP (Pound sterling)USD (US dollar)| Physical Cards | Virtual Cards | |
|---|---|---|
| Issue a new card | 25.00 EUR | 10.00 EUR |
| Monthly fee | 10.00 EUR per card | 10.00 EUR per card |
| POS fee | 2.00%, min 0.30 EUR, max 2.00 EUR | 2.00%, min 0.30 EUR, max 2.00 EUR |
| ATM fee | 1.50 EUR | n/a |
| FX fee | 2.75% | 2.75% |
| Card dormancy fee | 2.00 EUR | 2.00 EUR |
Pay Set offers money transfers between more than 200 countries in more than 30 currencies. Money can be sent from PaySet accounts, bank accounts and received to PaySet accounts, bank accounts. Transfers made with Pay Set are usually completed within 0-2 days.
AUD (Australian dollar)BHD (Bahraini Dinar)BGN (Bulgarian lev)CAD (Canadian dollar)CNY (Renminbi (Chinese) yuan)HRK (Croatian kuna)CZK (Czech koruna)DKK (Danish krone)EUR (Euro)HKD (Hong Kong dollar)HUF (Hungarian forint)ILS (Israeli shekels)JPY (Japanese yen)KEN KWD (Kuwatiti Dinar)MXN (Mexican peso)NZD (New Zealand dollar)NOK (Norwegian krone)OMR (Omani Rial)PLN (Polish złoty)QAR (Qatari Riyal)RON (Romanian new leu)RUB (Russian ruble)SAR (Saudi riyal)SGD (Singapore dollar)SEK (Swedish krona/kronor)CHF (Swiss franc)THB (Thai baht)TRY (Turkish lira)AED (UAE dirham)UGX (Ugandan Shilling)GBP (Pound sterling)USD (US dollar)Pay Set is neither registered with the Financial Conduct Authority (FCA) as a crypro asset firm, nor offers any crypto assets services. Pay Set Limited conducts some crypto-related activities.
From January 2020, firms carrying out specific cryptoasset activities in the United Kingdom need to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs) and to register with the FCA.
Pay Set Limited is not registered with the FCA as a crypro asset firm.
Pay Set do not offer crypto assets services.
| GBP | 2021 | 2022 | change (%) |
|---|---|---|---|
| Total Assets | 2,556,368.00 | 26,956,967.00 | +954.50% |
| Rank | Name | Market % | Total Assets |
|---|---|---|---|
| 67 (-3) |  Hargreaves Lansdown Savings Limited | 0.09 % | 27.98 mln GBP (+30.07%) |
| 68 (+52) | Pay Set Limited | 0.08 % | 26.96 mln GBP (+954.50%) |
| 69 (-10) |  Caxton Payments Ltd | 0.07 % | 24.02 mln GBP (-13.66%) |
United KingdomPay Set Limited is authorized by the Financial Conduct Authority as a e-money institution (reference number 900920) for issuance of electronic money, placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, money remittance; the authorization was granted on 30 June 2020.
Pay Set Limited is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, Pay Set is required to safeguard its customers’ money.
Since January 2021, Pay Set Limited can not conduct its activities in EEA member states.
Pay Set Limited is a SWIFT member.
Pay Set Limited is connected to MasterCard payment card scheme.
United Kingdom
+44 20 8068 0921EnglishPay Set has profiles on the following social networks:
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