An international business account lets a UK company receive, hold, convert and send money in currencies other than sterling. The best one depends on how customers pay, which currencies the business holds, what conversion really costs and how reliably suppliers are paid, not on how many currencies are listed or the monthly fee.
Importers, exporters and companies that make the occasional overseas payment need different things. An exporter needs local receiving details so overseas customers can pay as if domestically. An importer needs predictable supplier payments and control over when it converts. A wholesaler often needs both, plus working capital to carry stock between paying a supplier and being paid by a buyer.
This guide compares conventional banks with specialist payment and e-money providers. The two can look identical in an app, but the legal protection for the money differs, and that difference matters once balances become material.
The table below summarises where each provider fits. Plan prices and conversion costs follow in the next section, taken from each provider's own pricing page in October 2026.
| Provider | Best fit | What to check |
|---|---|---|
| HSBC UK | Established firms needing lending, guarantees and letters of credit | Relationship pricing on FX and international payments |
| Wise Business | Self-service FX with published per-currency fees | Limited trade finance and relationship support |
| Airwallex | Digital-first firms collecting in several markets | Monthly plan fee unless the balance or deposit threshold is met |
| WorldFirst | Importers, exporters and marketplace sellers | E-money account, not a bank deposit |
| Revolut Business | Multi-currency accounts with cards and spend controls | Plan allowances and which Revolut entity holds the account |
| OFX | Firms where FX and international payments are a large part of treasury | Not a bank account; no branch or cash services |
| Helm | Importers, exporters and wholesalers running several trade corridors | Accounts are held with licensed partners in each region |
Each provider was assessed against the questions a finance director asks before moving trade flows:
Fees and features below come from the providers' own UK pricing and product pages. Where a provider does not publish a figure, the article says so rather than estimating it.
Monthly fees are the easiest number to compare and usually the least important. For a trading business the conversion margin, receiving fees and supplier payment fees decide the real cost.
| Provider | Account or plan fee | FX conversion |
|---|---|---|
| Wise Business | Free to register; one-off £50 for account details in 22 currencies | From 0.24%, varies by currency |
| Airwallex | Explore £0 or £19 a month; Grow £49; Accelerate priced on request | 0.5% above interbank on major currencies, 1% on others |
| WorldFirst | Free to open, no subscription or maintenance fee | Up to 0.50% on major currencies; 0.30% for a new customer's first six months |
| Revolut Business | Basic £10, Grow £30, Scale £90 a month; Enterprise custom | Interbank within the plan allowance, 0.6% above it |
| OFX | Standard £0; Full Suite £75 a month for five users | Set by OFX per transaction; no FX fee when paying from held balances |
| HSBC UK | Set by HSBC by account and relationship | Set by HSBC |
| Helm | Monthly platform fee agreed in writing | Partner conversion fees set out in writing |
The Airwallex Explore plan drops to £0 when the business deposits at least £10,000 in a month or keeps a £10,000 balance. Revolut's FX allowances are £1,000 on Basic, £15,000 on Grow and £60,000 on Scale, with 1% charged outside market hours. Wise charges a fixed 6.11 USD to receive a USD wire, while domestic receipts in nine currencies, including USD, EUR and GBP, are free.
HSBC is the most complete traditional-bank option for established UK companies trading internationally. It offers foreign currency accounts, international payments, FX risk management and a full trade finance range: import and export letters of credit, collections, guarantees and standby letters of credit, buyer loans and an international business overdraft.
It is the natural home for a high-value equipment import paid by letter of credit, an exporter that needs a guarantee for a tender, or a group that wants one lender across several entities. It is not always the lowest-cost route for routine FX and collections, which is why many HSBC clients run a specialist account alongside it.
Wise suits businesses that want to receive, hold, convert and send money with a published fee for every currency. Registration is free; a one-off £50 unlocks account details for receiving money in 22 currencies, and conversion fees start at 0.24%. Wise Payments Limited is authorised by the FCA as an e-money institution and safeguards customer money with a group of financial institutions.
Wise works well for an exporter collecting in USD and EUR or a finance team paying a handful of overseas invoices each month. It is less suited to a business that needs inventory finance or a named relationship manager.
Airwallex combines multi-currency accounts with transfers, corporate cards, expense management and finance tools. Airwallex (UK) Limited is an FCA-authorised e-money institution. Local receiving details are available in more than 20 currencies, and payouts reach more than 200 countries, with SWIFT transfers priced at £10 to £20 each.
It is strongest for digital-first companies collecting in several markets or running several entities. For an importer focused only on supplier payments and FX, much of the wider platform may go unused.
WorldFirst's World Account is built for international commerce. World First UK Limited is an FCA-authorised e-money institution. The account offers receiving accounts in more than 20 currencies, payments in more than 100 currencies to more than 210 countries and regions, and forward contracts to fix a rate for future payments.
Per-payment fees are published: for example £0.77 to send USD to the United States and £0.27 to send EUR within SEPA. Its marketplace links make it a frequent choice for ecommerce sellers and wholesalers collecting from platforms.
Revolut Business is strong on multi-currency accounts, international transfers, cards, approvals and spend controls in an app-led environment, holding more than 25 currencies. Plans run from £10 to £90 a month, each with its own FX allowance and number of free transfers.
The Prudential Regulation Authority approved Revolut Bank UK Ltd's exit from mobilisation on 11 March 2026, allowing it to offer FSCS-protected deposit accounts to retail and business customers. Revolut is moving existing UK customers in phased batches with at least two months' notice. A business should confirm whether its account sits with Revolut Bank UK Ltd or with the e-money entity, Revolut Ltd, because protection differs between them.
OFX has grown from international money transfer into a Global Business Account. UKForex Limited, trading as OFX, is an FCA-authorised e-money institution. The account holds and pays in more than 30 currencies to more than 180 countries and offers spot transfers, forward contracts and limit orders, which instruct OFX to convert automatically when a target rate is reached.
OFX is strongest where FX is a material part of treasury and the business wants specialist dealer support. It does not provide branch banking, cash deposits or conventional lending, so it usually sits alongside a bank.
Helm, the firm's own business account and payments platform, brings a trading business's collection accounts, payout accounts, currency conversion and trade documents into one workspace. Helm is the operating platform: the accounts and payments are provided by licensed partners in each region, and the business contracts with those partners through Helm. Invoices, bills of lading and customs documents are attached to each payment, and Helm offers trade finance. Details are on the Helm platform page.
It suits importers, exporters and wholesalers running several corridors, particularly between Latin America, Africa, the Gulf or South-East Asia and the UK, Europe or North America. A business making a few low-value transfers a year will usually be better served by a self-service account.
A bank account and an e-money account can look the same on screen. The legal position of the money is different, and it decides what happens if the provider becomes insolvent.
| Point | Bank account | E-money or payment account |
|---|---|---|
| Regulator | PRA and FCA | FCA |
| How money is protected | FSCS, up to £120,000 per eligible depositor per bank | Safeguarding: kept separate from the firm's own money |
| Interest and lending | Deposits, overdrafts and loans | No lending from e-money balances |
Safeguarding means the e-money firm must hold customer money in a segregated account at a bank, or cover it with an insurance policy or comparable guarantee. The FCA's CASS 15 safeguarding rules came into force on 7 May 2026 and require an annual safeguarding audit and a monthly safeguarding return; the firm explains how they work on its safeguarding page. The FCA notes that customers of an insolvent e-money firm should get most of their money back, though it can take time.
For large operating balances, confirm which entity provides the account, where the money is held, what protection applies, and whether the account permits every third-party payment the business intends to make. Keeping a bank as the core balance-sheet relationship and using a specialist provider for cross-border flows is a common and sound structure.
Exporters should prioritise easy payment for the customer, foreign-currency receiving details, control over when to convert, and help when a high-value receipt is delayed.
The exporter's guide covers receiving methods in detail: how UK exporters can receive international payments.
Importers and wholesalers should prioritise reliable supplier payments, the total cost of conversion, beneficiary controls, working capital and support when a payment is held.
Most traders end up with two relationships: a bank for lending and trade products, and a specialist account for frequent cross-border flows. The guide to business bank accounts for importers and exporters sets out that structure, and the guide on how UK importers pay overseas suppliers covers payment methods by supplier country.
The choice is no longer bank against fintech. It is which combination of regulated providers fits the business's real money flows. Two changes in the last year shape that choice.
First, deposit protection rose to £120,000 per eligible depositor per bank on 1 December 2025, which strengthens the case for keeping core balances in a bank. Second, Revolut began operating as a UK bank in March 2026, so one of the largest app-led providers now offers FSCS-protected business deposits once accounts have moved across.
Specialist providers continue to compete on receiving details, conversion margins and payout reach, while HSBC and the other high-street banks remain the source of lending, guarantees and documentary trade. A growing exporter may prioritise local USD receiving details and transparent FX; an importer may prioritise payment reliability and working capital; a larger trader usually needs both plus a bank.
Implementation matters almost as much as the choice of provider. A clean overlap avoids misdirected receipts and duplicate supplier payments.
Start by mapping real flows: the main customer and supplier currencies, average transaction size, monthly volume and the key countries. Compare providers on those routes, not on headline features.
Avoid paying for functions the business will not use. A two-currency wholesaler making five large supplier payments a month needs something different from a multi-entity software company with 200 staff.
Test support before moving critical flows. Ask what happens if a £100,000 payment is held for review, which documents are needed, how a payment is traced and who owns the escalation. Where a business needs help opening accounts with banks or e-money providers, the firm's banking and payment processing service arranges them.
There is no single winner. HSBC suits firms needing lending and trade finance, Wise and WorldFirst suit transparent FX and collections, Airwallex suits multi-market operations, Revolut suits cards and controls, and OFX suits FX-heavy treasury.
Yes. HSBC, Wise, Airwallex, WorldFirst, Revolut and OFX all let eligible UK businesses hold USD, EUR and other currencies. Receiving details, fees and legal structure vary by provider.
No. E-money institutions safeguard customer money by keeping it separate from their own, but it is not covered by the FSCS. Bank deposits are protected up to £120,000 per eligible depositor per bank.
Revolut Bank UK Ltd was cleared by the PRA to operate as a full UK bank on 11 March 2026 and is moving existing customers across in phases. Check which Revolut entity holds your account to know which protection applies.
Often yes. A bank typically handles lending, cash and documentary trade, while a specialist account handles collections, currencies and supplier payments. Use the fewest providers that cover the real needs.
The FX margin, receiving fees, payment reliability, settlement time, support and access to working capital. On £500,000 of annual conversions, a 0.5% difference in margin is £2,500 a year, more than most plan fees.
Buckingham Capital Consulting has obtained FCA e-money and payment authorisations for firms including Hryze, Dzing Finance and Global Send since 2013, and arranges the business, safeguarding and operating accounts that regulated firms and their trading customers depend on. Its banking team places companies with banks and e-money providers in the UK, Europe and North America, matched to the currencies and corridors 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.