Source: https://rivet.global/blog/payset-alternatives
Published: 2026-07-14 · Updated: 2026-11-05 · By Alexia M.

# Payset alternatives in 2026: six business accounts compared on fees

Payset charges €100 to €300 a month plus a €480 to €960 application fee. Here are six alternatives compared on setup cost, FX and transfer fees.

## Key takeaways

- Payset's Business plan costs €100 a month and its Scale plan €300 a month. Opening needs an application fee of €480 for EU and UK companies or €960 for others, plus three months of fees in advance.
- Payset charges per transaction on top: €2 to receive a local payment, €10 for SWIFT, and 0.40% (max €80) to send by SEPA on the Business plan.
- Wise Business, Airwallex and WorldFirst all open without an application fee. WorldFirst and Airwallex's Explore plan have no monthly fee for most users.
- Rivet's Starter plan is free, gives USD account details in your company's name, unlimited virtual cards and USDC and USDT ramps. EUR and GBP details come with Growth at $200 a month.
- Payset still fits a holding company that wants many local IBANs and a relationship manager, and can carry the fixed cost.

Payset's pricing page is unusually complete. That helps, because the totals surprise people. A UK company opening the Business plan pays a €480 application fee and three months of the €100 subscription before it gets access: €780 on day one. A company registered outside the EU and UK pays €960 to apply, so €1,260.

Then come transaction fees. On the Business plan Payset charges €2 to receive a local payment, €10 to receive a SWIFT payment, 0.40% (max €80) to send by SEPA and 0.50% (max €290) to send by SWIFT. The FX margin starts "as low as 1%", tiered by volume.

Prices below are from each provider's pricing page, read in November 2026.

## The alternatives side by side

| | Setup | Monthly | FX margin | Stablecoins |
|---|---|---|---|---|
| Payset Business | €480 to €960 | €100 | from 1% | Not for UK companies |
| Wise Business (UK) | £50 for account details | £0 | from 0.24% | No |
| Airwallex Explore (UK) | £0 | £0 or £19 | 0.5% majors, 1% others | No |
| WorldFirst (UK) | £0 | £0 | up to 0.50% (0.30% first 6 months) | No |
| Revolut Business Basic (UK) | £0 | £10 | 0.6% over a £1,000 allowance | No |
| Rivet Starter | $0 | $0 | from 0.80% | USDC and USDT |
| Rivet Growth | $0 | $200 | from 0.50% | USDC and USDT |

## Who each one suits

**Wise Business** suits a company that converts occasionally between major currencies. The fee is low and there is no subscription.

**WorldFirst** suits marketplace sellers. It is free to open and collects from 130+ marketplaces.

**Airwallex** suits a company that wants cards, bill pay and 20+ collection currencies, and can keep £10,000 moving through the account to keep Explore free.

**Rivet** suits a registered company that bills clients in dollars, pays people in many countries and wants stablecoins in the same account. Starter costs nothing, and there is no fee to receive a bank transfer. Payouts reach 120+ countries for $2 each on Starter, $1 on Growth and $0.50 on Scale.

## When Payset is still the right call

Payset makes sense for holding companies and import or export businesses that want many local IBANs in one place, send large SEPA or SWIFT amounts where the fee cap kicks in, and value an account manager. Its tiered FX falls to 0.25% above 6 million euros of conversion over 90 days.

If you are smaller than that, the fixed cost is hard to justify. Our [Wise Business alternatives comparison](/blog/best-wise-business-alternatives) and [Airwallex alternatives](/blog/airwallex-alternatives) cover the other options in more depth.

## How Rivet compares

Rivet issues USD account details in your company's legal name on the free Starter plan, and EUR and GBP details from Growth. Every conversion shows the rate and fee before you confirm, and your FX rate is confirmed during onboarding. Rivet is not a bank; funds are held with regulated partner institutions. See [pricing](/pricing) for the full plan list.

## Questions

### Does Payset charge to open an account?

Yes. Its pricing page lists an application fee of €480 for EU and UK companies and €960 for companies elsewhere, plus €480 for complex structures. You also pay the first three months of fees before you get access.

### What is the cheapest Payset alternative?

For a company with modest volume, an account with no setup fee and no monthly fee costs least: WorldFirst, Airwallex Explore (free if you deposit or hold £10,000 a month) or Rivet Starter. Which one wins depends on the currencies you receive and whether you need stablecoins.

### Is Payset regulated?

Pay Set Limited says it is an electronic money institution authorised by the UK Financial Conduct Authority, reference 900920. Its US customers are served through Airwallex US, LLC, according to its pricing page.

### Can I hold USDC or USDT with Payset?

Payset says crypto exchange is offered by a separately licensed group company and is not available to UK residents or UK companies. Rivet supports USDC and USDT deposits and withdrawals on every plan, including Starter.