A cross-border payment provider moves money between the UK and other countries for a business: paying overseas suppliers, collecting from foreign customers and converting between currencies. The best one is not the one with the lowest advertised transfer fee. A business sending £250,000 to a supplier, or receiving $500,000 from customers abroad, needs to know the effective exchange rate, the amount the beneficiary actually receives, when the money can be used, and who resolves a payment held for review.
This guide covers UK businesses making and receiving genuine business-to-business international payments. It prioritises supplier payments, customer collections, FX cost, settlement reliability, support and working capital. Consumer remittance is out of scope.
| Provider | Best for | What to check |
|---|---|---|
| Wise Business | Straightforward transfers with published per-currency fees | Limited relationship-led trade finance |
| Airwallex | Multi-market finance operations on local rails | Wider platform than a simple trader needs |
| WorldFirst | Ecommerce, marketplace and supplier payments, including China | E-money account, not a bank deposit |
| OFX | Higher-value FX with forwards and limit orders | No branch or everyday domestic banking |
| Revolut Business | Payments with cards, approvals and spend controls | Plan allowances and which Revolut entity holds the account |
| HSBC UK | Established firms needing bank depth and trade finance | Relationship pricing that is less visible upfront |
| Helm | Importers, exporters and wholesalers running several corridors | Corridors and partners available for the business |
The total cost of a payment is the transfer fee, the FX margin, any intermediary bank deductions, the receiving bank's charge and the cost of any later conversion. A £0 transfer fee can still be expensive if the exchange rate is worse.
What matters is when the beneficiary receives usable funds, not when the provider marks the payment as sent. Local payment rails, meaning the domestic clearing system in the destination country, help on supported corridors. SWIFT, the global bank messaging network, remains essential for broad reach.
Payments can be held for additional information. The business needs tracking, approval controls and a clear escalation route when a supplier is waiting.
A trading business collects, pays suppliers and often needs finance between the two. The provider should fit all three, or sit cleanly alongside the bank that does.
Figures below come from each provider's UK pricing page in October 2026. Where a provider sets pricing case by case, the table says so.
| Provider | FX conversion | Transfer and plan fees |
|---|---|---|
| Wise Business | From 0.24%, varies by currency | Free to register; one-off £50 for account details in 22 currencies |
| Airwallex | 0.5% above interbank on major currencies, 1% on others | Local transfers in EUR, GBP and CHF free; SWIFT £10 to £20; plans from £0 to £49 a month |
| WorldFirst | Up to 0.50% on major currencies | No account fee; USD to the United States £0.77, EUR via SEPA £0.27 |
| OFX | Quoted per transaction | Standard plan £0; Full Suite £75 a month for five users |
| Revolut Business | Interbank within allowance, then 0.6% | £10, £30 or £90 a month; £5 per international transfer above the allowance |
| HSBC UK | Set by HSBC | Set by HSBC by account and relationship |
| Helm | Partner conversion fees in writing | Monthly platform fee agreed in writing |
Airwallex's Explore plan costs £0 when the business deposits £10,000 in a month or holds a £10,000 balance, otherwise £19. WorldFirst charges new customers 0.30% for their first six months, and businesses turning over more than £100,000 a month can ask for custom rates.
Wise is the benchmark for transparent international payments. It shows the conversion fee separately from the exchange rate, starting at 0.24%, and the UK business account sends, receives and holds multiple currencies, with receiving details in 22. Wise Payments Limited is an FCA-authorised e-money institution. Larger recurring payers should weigh support, beneficiary experience and working capital alongside FX.
Airwallex is broader than a transfer provider: global accounts, FX, transfers, cards, expense management and payment acceptance. It emphasises local receiving details and local rails, with fast local transfers to more than 120 countries, which reduces reliance on correspondent banks where supported. A lean importer with two or three corridors may not need the full platform. Airwallex (UK) Limited is an FCA-authorised e-money institution.
WorldFirst is built around business cross-border trade. The World Account collects in more than 20 currencies and pays in more than 100 currencies to more than 210 countries and regions, with forward contracts to fix a future rate. Its China and marketplace orientation suits importers buying from Asia and sellers collecting from platforms. World First UK Limited is an FCA-authorised e-money institution, so balances are safeguarded rather than deposit protected.
OFX has long focused on FX and international transfers and now offers a Global Business Account in more than 30 currencies to more than 180 countries. Spot transfers, forward contracts and limit orders suit businesses with confirmed future payments that create exchange-rate exposure. A forward contract fixes the rate for a payment on a future date, which protects the budget but means the business forgoes any favourable movement.
Revolut Business combines multi-currency accounts and international payments with cards, spend management and permissions, which suits growing teams that want employee spending and cross-border payments in one place. Fees depend on plan allowances, so model them against actual volume. Revolut Bank UK Ltd received approval to exit mobilisation on 11 March 2026 and is moving existing customers across in phases with at least two months' notice; confirm which entity holds your account and what protection applies.
HSBC offers international payments by Priority Payment and SEPA, foreign currency accounts, FX risk management, guarantees and a full trade finance range. It suits an importer that needs letters of credit, an exporter that needs export finance, or a group that values a single lender. Many businesses use HSBC or another high-street bank alongside a specialist provider for routine FX.
Helm, the firm's own business account and payments platform, runs a trading business's collection accounts, payout accounts and conversion in one workspace, with invoices, bills of lading and customs documents attached to each payment. The accounts and payments are provided by licensed partners in each region and the business contracts with them through Helm. It is designed for corridors between Latin America, Africa, the Gulf or South-East Asia and the UK, Europe or North America; the trade payments service explains how corridors are set up. Occasional low-value payers will usually be better served by a self-service provider.
Start with the amount the beneficiary must receive and work back to the sterling needed after FX and charges. That is the only like-for-like comparison.
| Illustration: $100,000 supplier payment | Sterling needed |
|---|---|
| At an assumed mid-market rate of 1.30, no margin | £76,923 |
| With a 0.5% FX margin | £77,308 |
| With a 2.5% FX margin | £78,846 |
The difference between a 0.5% and a 2.5% margin on that one payment is about £1,538. On £5 million of annual FX volume, every 0.5% is £25,000 a year. Exporters should measure the other side: what remains after incoming charges and conversion.
The British Business Bank notes that currency movements can reduce profits on international trade. Provider choice belongs in the treasury policy, alongside when to convert and whether to hedge.
| Business type | Usually the best starting point |
|---|---|
| Importer paying a few large suppliers in USD or CNH | WorldFirst or OFX for supplier payments, a bank for letters of credit |
| Exporter collecting in USD and EUR from business customers | Wise or Airwallex receiving details, with conversion timed by the business |
| Ecommerce or marketplace seller | WorldFirst or Airwallex for platform collections |
| Growing company with many staff cards and approvals | Revolut Business or Airwallex |
| Established group with borrowing and guarantees | HSBC or another high-street bank, plus one specialist provider |
| Trader running several emerging-market corridors | Helm with licensed partners in each corridor, or a specialist provider per corridor |
The table is a starting point, not a verdict. Run the pilot described below on the two or three corridors that carry most of the value before moving volume.
Exchange-rate exposure arises whenever the business agrees a price in one currency and settles or reports in another. An importer that agrees a USD price in March and pays in June carries the risk that sterling weakens in between.
A short written FX policy, setting which exposures are hedged, by whom and up to what amount, keeps these decisions consistent as volumes grow.
Local rails can be faster and cheaper where a provider has them, but they do not remove the need for SWIFT, which remains the broadest bank-to-bank network. A provider may list 150 or 200 destinations yet use different rails, settlement times and fees in each.
Ask each provider how your top five corridors are actually delivered: local rail or SWIFT, who pays intermediary charges, and the usual time to credit. Corridor-level answers matter more than country counts.
Payments are held for incorrect beneficiary details, cut-off times, intermediary routing, sanctions screening, compliance reviews, source-of-funds questions, local holidays and receiving-bank processes. UK providers screen against the sanctions list maintained by the Office of Financial Sanctions Implementation, and no system can bypass a legitimate review.
The practical response is preparation. Keep the invoice, contract, purchase order, beneficiary details and commercial purpose aligned for each supplier, and choose a provider with tracking, clear document requests and a named escalation route.
The best supplier-payment provider is not automatically the best for collections. Importers prioritise reach, FX pricing, certainty and finance; exporters prioritise local receiving details, holding foreign currency and fast escalation.
A platform with excellent cards may be weak on the supplier corridor that drives 70% of purchases. The guides to paying overseas suppliers from the UK and receiving international payments as a UK exporter go into each side.
No rule requires a single provider. Many UK businesses combine a high-street bank, a specialist account and a backup route. The cost is operational: fragmented balances, permissions and reconciliation.
Aim for the smallest number of providers that covers the main payment jobs with adequate resilience, and review at least annually or when volumes change. The comparison of international business bank accounts in the UK covers the account side of the same decision.
It depends on the job. Wise suits transparent self-service FX, Airwallex multi-market operations, WorldFirst ecommerce and supplier payments, OFX higher-value FX, Revolut cards and controls, and HSBC bank depth and trade finance.
Compare the total sterling cost of delivering a set amount to the recipient, including FX margin, transfer fee, intermediary and receiving charges. No provider is cheapest on every corridor.
They can be faster or cheaper on supported corridors. SWIFT remains essential for broad coverage, so check how each of your main corridors is delivered.
Compare quotes on real transaction sizes, avoid converting twice, hold currency that matches future costs, and consider forward contracts for large, predictable exposures.
Bank deposits are protected up to £120,000 per eligible depositor per bank. E-money firms such as Wise, Airwallex, WorldFirst and OFX safeguard customer money instead, which is not FSCS protection.
Often yes, for resilience or because different providers suit different corridors. Keep the set-up as simple as the business allows.
Buckingham Capital Consulting has obtained FCA payment authorisations for cross-border firms including Global Send, Nexpay and Orbital since 2013, and arranges the banking, safeguarding and FX relationships that payment businesses run on. It also sets up collection and payout accounts for importers, exporters and wholesalers through licensed partners in each corridor they trade.
Speak to an expert: WhatsApp +44 7563 115980, Telegram @buckinghamcapital or info@buckinghamcapitalconsulting.co.uk.
This article is general information, reviewed against the regulator’s published requirements on the date shown. It is not legal advice; the regulator’s current publications take precedence.