Search for the best cross border payment services and you will find a dozen rankings, each with a different winner and figures that do not agree with each other. That is not because anyone is lying. It is because the cost of an international payment depends on how you pay, not only on who you pay with.
This guide compares the main services a UK business actually shortlists on the three things that decide the bill: the pricing model, the payment rail, and the type of regulated firm holding your money. Every provider figure below is attributed to a dated source. Check the provider's own pricing page before you sign anything, because these numbers move.
The short answer
There is no single best service. There is a best match between a pricing model and your payment pattern.
The baseline you are escaping is the high street bank. A June 2026 UK comparison put bank FX margins at 2.5% to 4% plus £15 to £30 per transfer, against well under 1% at the specialists. Almost any specialist beats that. The choice between specialists is where the thinking starts.
How to judge a cross border payment service
FX margin versus visible fee
A payment has up to three cost layers: a fee to receive, a margin on the currency conversion, and a fee to pay out or withdraw. ForexFee's analysis shows how platforms keep one layer looking cheap while recouping on another. A "zero fee" transfer with a 2% margin buried in the rate costs far more than a visible £1 fee at the real rate.
So compare the total amount the beneficiary receives for the same send amount, on the same day. Nothing else is a like for like comparison.
The rail decides the fixed fee
The same provider can charge pennies or tens of pounds for a payment depending on the rail. Local rails such as SEPA and UK Faster Payments are cheap and quick. A payment that has to leave those networks usually goes over SWIFT through a chain of correspondent banks, which costs more. Speed on SWIFT is better than its reputation: Swift reports that nearly 60% of GPI payments reach the beneficiary within 30 minutes. Cost is the bigger issue. We break down the hops in our guide to SWIFT payments.
The practical question for any provider is: in which currencies can I hold a balance with local account details, so that both collections and payouts stay on local rails? That is the job of a multi currency business account.
What kind of firm holds your money
Most specialists are not banks. They are electronic money institutions or payment institutions, and client funds are safeguarded rather than covered by the FSCS. That is a legitimate model, but you should know which one you are using. Our explainer on electronic money institution vs payment institution covers the difference, and safeguarding vs FSCS covers what happens if a provider fails.
Every UK regulated provider has a Firm Reference Number (FRN) you can check on the FCA register. The BusinessExpert comparison lists them, for example Wise 900507, Airwallex 900876 and Revolut Business 900562.
The main providers compared
| Service | Pricing model | FX cost (majors) | Monthly fee | Best fit |
|---|---|---|---|---|
| Wise Business | Mid market rate plus visible fee | From 0.33% | None, £50 one off for advanced features | Irregular transfers, transparency |
| Airwallex | Margin over interbank | 0.5% | £0 or £19 Explore, £49 Grow | Holding and paying in many currencies |
| Revolut Business | Subscription with FX allowance | Allowance, then 0.6% | £10 to £125 | Cards and spend in one account |
| Payoneer | Margin plus withdrawal fees | About 2% | None | Marketplace sellers |
| EX FI | Flat published fee per rail plus FX | 0.70% | None for UK entities | UK and EU payments with dedicated IBANs |
Sources for each row are in the profiles below.
Wise Business
Wise converts at the mid market rate and shows its fee separately. BusinessExpert lists a fee from 0.33% and a one off £50 setup charge, and estimated about £35 all in on a £10,000 transfer, verified 2 June 2026. It rates Wise best overall for UK businesses. Strength: you see the cost before you send. Limit: the percentage fee scales with the amount, so very large payments may do better with a negotiated margin.
Airwallex
According to the UK fee tables compiled in Wise's own Airwallex vs Revolut comparison, Airwallex charges 0.5% above interbank on major currencies and 1% on others, £10 to £20 for SWIFT transfers, and plans run from Explore at £0 (or £19 a month if you do not meet the deposit or balance condition) to Grow at £49. Strength: broad local account coverage and payment acceptance tools. Note the source is a competitor, so confirm on Airwallex's pricing page.
Revolut Business
The same source lists Basic at £10, Grow at £35 and Scale at £125 a month, with FX at the interbank rate inside a monthly allowance, 0.6% above it, and a further 1% when you exchange outside market hours. Strength: cards, expenses and payments in one app. Watch the weekend surcharge and whether your volume justifies the plan fee.
Payoneer
Built for marketplace payouts rather than supplier payments. ForexFee's worked comparison uses roughly a 2% FX margin and a $1.50 bank withdrawal fee, leaving $968.60 from a $1,000 receipt paid by bank transfer, against $995.50 at Wise Business in the same example. Strength: native payouts from marketplaces.
EX FI
EX FI publishes flat prices per rail on exfi.app: SEPA and UK Faster Payments at £0.99, international SWIFT at £26.40, internal transfers free, FX at 0.70% on major pairs and 0.90% on minors, with no monthly fee for UK incorporated entities, no opening fee and no minimum balance. Accounts hold GBP, EUR, USD, CHF, SGD, CNY and more, each with a dedicated IBAN where applicable.
A worked example: paying a eurozone supplier £10,000 from sterling
Say a UK importer converts £10,000 to euros and pays a German supplier.
- •High street bank: BusinessExpert's estimate is £265 to £425 in total.
- •Wise Business: about £35 on the same comparison.
- •EX FI: 0.70% FX is £70, plus £0.99 for the SEPA payment, so £70.99.
On a one off conversion, Wise's percentage is lower than EX FI's. The picture changes when the conversion disappears. If the importer also sells into the eurozone and customers pay into a EUR IBAN, the supplier can be paid from that euro balance with no conversion at all. On EX FI that payment costs £0.99. The cheapest FX is the conversion you do not make, which is why rails and local account details matter more than a margin headline for businesses with two way currency flows.
Which service fits which business
- •Occasional payments, mostly one direction: a mid market rate with a visible fee is hard to beat.
- •Many currencies, e-commerce collections: a platform with wide local account coverage and acquiring tools.
- •Small team that wants cards and spend control in one place: a subscription plan, if your FX volume uses the allowance.
- •Marketplace income: a service with native marketplace payouts, priced against its withdrawal fees.
- •UK or EU company paying and receiving in GBP and EUR with predictable per payment costs: an account with dedicated IBANs and flat rail pricing.
Model your last three months of payments against each tariff before deciding. That takes an afternoon and beats any ranking, including this one. If you also need to hold balances long term, see our comparison of the best multi currency business account in the UK.
Where EX FI fits
EX FI is built for UK businesses with cross border operations: one account with dedicated IBANs, payments over SWIFT, SEPA, FPS, BACS and CHAPS, and prices you can calculate before you send. Standard applications are reviewed within 24 to 48 hours with online KYC.
Be precise about what it is. EXFI is a trading name of EX Financial Solutions Ltd, which is not itself authorised by the FCA and acts as a distributor of payment services provided by Gemba Finance Ltd. Regulated payment services are provided by Gemba Finance Limited (FCA FRN 804853). UK customers only. EXFI accounts are payment accounts, not bank accounts: funds are not covered by the FSCS but are safeguarded in segregated accounts under the Payment Services Regulations 2017.
FAQ
What is the cheapest way for a UK business to send money abroad?
It depends on the corridor, amount and whether a conversion is needed at all. Compare the amount the beneficiary receives for the same send on the same day. On a single £10,000 conversion, the BusinessExpert estimates range from about £35 at a specialist to over £400 at a bank.
Are fintech business accounts covered by the FSCS?
Usually not. Payment institutions and electronic money institutions safeguard client funds in segregated accounts instead. EXFI accounts, for example, are payment accounts safeguarded under the Payment Services Regulations 2017 and not covered by the FSCS.
Why do some providers charge more at weekends?
Currency markets close, so some providers add a surcharge. Revolut Business, for example, lists an extra 1% for exchanges outside market hours. Scheduling conversions for weekdays avoids it.
How do I check a cross border payment provider is regulated?
Find its Firm Reference Number, usually in the website footer or legal pages, and search it on the FCA register. Check which firm actually provides the regulated service, since some brands distribute another firm's services.