The platform is trustable, professional and clear in every service. The customer care is "real", helpful and fast to answer. The compliance is strict, but it's positive and I think it's the pre-chec... See more
Company replied
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Review summary
Created with AI, based on recent reviews
What people talk about most
Reviews shaping this summary
Very professional onboarding, fast response. Great service team. Careful review of documents. The mobile App would be a great addition, I hope it will be soon developed. Fast transfer and good exchang... See more
Company replied
I am very satisfied with the collaboration and I received very quick responses from Peyset. In many cases, you have to wait many days for a response, but at Peyset I received answers very quickly. I... See more
Company replied
Dear Payset Team, I’m happy to share my positive experience with Payset. The support team was professional, responsive, and genuinely committed to resolving my concern quickly and efficiently.... See more
Company replied
Company details
Written by the company
Payset is an online payment solution that provides multi-currency accounts and currency exchange services. With Payset, companies large or small can easily hold, send, or receive funds in up to 34 currencies to and from clients, staff, or suppliers around the world. Payset offers free signups, quick onboarding, personalized service, advanced security, affordable FX, frictionless global payments, local IBANs in key regions, excellent reporting features, and more. We help modern businesses eliminate the expenses, delays, and red tape associated with cross-border payments and currency exchange. As an FCA-regulated EMI based in the UK, our multicurrency business accounts are tailored for global clients in e-commerce, startups, holding companies, import-export, and any company with international reach.
Contact info
9th Floor, 9 Appold St, EC2A 2AP, London, United Kingdom
- +44 1880 280081
- operations@payset.io
- payset.io
4.5
Excellent
295 reviews
No recent history of asking for reviews
This company hasn't invited customers recently, so reviews may not be representative
Replied to 84% of negative reviews
Typically replies within 1 week
How this company uses Trustpilot
See how their reviews and ratings are sourced, scored, and moderated.
Why Payset is not a good fit: Transparency Issues and Hollow Customer Engagement
I recently attempted to open an account with Payset, providing all the necessary information: a driver's license picture, proof of residence, etc. However, the procedure was far from streamlined.
The first obstacle I encountered was their rejection of my international phone number, as it’s a Google Voice number. No explanation was offered. To resolve this, I had to turn on a phone with a physical SIM card that met their requirements. It took 30 minutes for the SMS with the code to arrive, which can happen when a phone has been turned off for weeks (something I consider a personal privilege).
The second issue involved accepting the terms and conditions. The document, which was mandatory to accept, could not be downloaded and was presented online in a poorly legible format (with no proper page layout). I ended up copying the text, which amounted to 28 pages (32 if you slightly increase the font size). Just 20 minutes later, I received an automated message from Payset urging me to confirm my acceptance of the terms. This was the second red flag. How could they reasonably expect anyone to review a lengthy, 28-page document and approve it in such a short time? Only AI could process it that quickly.
While skimming through the document, I found several problematic clauses:
Opening Fee: The company charges an opening fee, not at the time of opening but deducted from the first transaction. This tactic avoids scaring applicants with an upfront payment or credit card charge. However, the document fails to disclose the fee’s exact amount, leaving it entirely at their discretion.
Dormant Account Fee: An account becomes dormant if inactive for just four months. Reactivating it incurs a fee of £250 (if I recollect exactly). However, the document is unclear about what constitutes "activity" to avoid dormancy. Does it require a payment, a currency conversion, or simply logging into the account?
Another aspect that raised my suspicion was Payset's policy of replying to every Trustpilot review. While responding to reviews can be a good practice, their tone is mawkish, overly sweet, and ultimately unhelpful. Occasional replies would suffice, but responding to every single comment this way makes their effort feel disingenuous. Instead, employees should focus on assisting customers with their accounts, which would be a far more productive use of their time.
Ultimately, I decided Payset is not a good fit for me. Though the process took a few hours of my time, it saved me from a potentially unpleasant experience and financial losses. Sometimes, a little scrutiny goes a long way.
January 24, 2025
Unprompted review
Reply from Payset Limited
We truly appreciate the time and effort you took to share such a detailed and honest review. Your feedback is invaluable, as it helps us identify areas where we need to improve to create a smoother experience for our customers.
We sincerely regret that your account opening process was frustrating and that our current procedures did not meet your expectations. We understand how important it is for the process to be seamless, and your points about phone number acceptance, document accessibility, and transparency around fees are well noted. Your experience highlights areas we need to refine, particularly around communication and usability, and we will make sure to review these aspects internally.
Regarding the terms and conditions document, we completely understand that reviewing a lengthy agreement in such a short time can feel impractical. This is something we need to reassess to ensure our users can make informed decisions without feeling rushed.
We would genuinely appreciate the opportunity to discuss your concerns further and explore ways we can improve. If you’d be open to it, we’d love to schedule a quick call at your convenience to hear more about your experience in detail. Please feel free to reach out to valentin.dobrota@payset.io so we can arrange a time that works for you.
Once again, we appreciate your feedback and the thoughtfulness behind it. While we regret that we weren’t the right fit for you, we sincerely hope to learn from this experience and improve for future customers.
Valentin Dobrota
Head of Customer Success
Been using these guys for 3 months
Been using these guys for 3 months, running smooth with new features added all the time. Keep up the great work
October 2, 2024
Unprompted review
Reply from Payset Limited
hank you for sharing your experience and for the kind words! We’re thrilled to hear that things have been running smoothly for you and that you’re enjoying the new features we’ve been adding.
Your support means a lot to us, and we’re committed to continuously improving and delivering even better solutions to meet your needs.
If there’s anything we can do to make your experience even better, please don’t hesitate to let us know. Thanks again for choosing Payset, and we’ll keep up the great work!
Payset team
Had a really bad service
Had a really bad service. Payset changed their back end bank for international transactions. And since then we have been running around trying to transfer funds from US to our account at Payset. Payset was difficult to reach and then they were just refering us back to Chase to fix the problem there. eventally had to make the company payment from our perosnal account in US. Really bad experience.
November 13, 2024
Unprompted review
Reply from Payset Limited
We’re sorry to hear about your experience and sincerely apologize for the frustration and inconvenience caused. Changing backend systems can sometimes lead to unforeseen challenges, but we understand that this has disrupted your operations significantly, and that’s not the level of service we strive to provide.
Your feedback is invaluable, and we’d like to investigate this matter further to ensure it doesn’t happen again. Please reach out to our support team directly so we can address your concerns and work toward a resolution. Your satisfaction is our priority, and we’d appreciate the opportunity to make things right.
Payset Team
Mobile friendly
Mobile friendly, large variety of providers and currencies, easy to use platform, great affiliate program.
December 12, 2024
Unprompted review
Reply from Payset Limited
Dear Timor,
Thank you for your positive feedback! We're thrilled to hear that you appreciate our mobile-friendly platform, diverse provider options, currency variety, and user-friendly interface. It's great to know that you're also enjoying our affiliate program. Your support means a lot to us, and we're always here to ensure you have the best experience possible. 😊
Payset team
Exceptional service
Exceptional service! This bank is highly customer-focused, flexible, and always helpful. They go above and beyond to meet our needs, making banking seamless and stress-free. Highly recommend.
November 26, 2024
Unprompted review
Reply from Payset Limited
Hi Tatiana,
Thank you so much for your amazing feedback! We’re absolutely delighted to hear that you’ve had such a positive experience with our service. Providing exceptional, customer-focused support is at the heart of what we do, and it’s incredibly rewarding to know we’ve made banking seamless and stress-free for you.
Your recommendation means the world to us, and we’re here to assist you whenever you need. Thank you for choosing Payset – we look forward to continuing to support your success!
Payset team
it is very friendly-user and easy back…
it is very friendly-user and easy back office
November 19, 2024
Unprompted review
Reply from Payset Limited
Thank you so much for your kind words! We’re thrilled to hear that you find our back office user-friendly and easy to navigate. Providing a seamless and intuitive experience for our customers is one of our top priorities, and your feedback lets us know we’re on the right track.
If there’s anything else we can do to make your experience even better, please don’t hesitate to let us know. We’re here to help!
Payset Team
Truly outstanding and respectful…
Truly outstanding and respectful professionals—I cannot recommend them highly enough. I created a free account, and they went above and beyond to help me open an account after facing significant challenges with other platforms. My deepest gratitude goes to the support team,
November 17, 2024
Unprompted review
Reply from Payset Limited
Thank you so much for your kind words and for sharing your experience with us! It truly means the world to hear that our team was able to assist you and exceed your expectations.
We understand how challenging it can be to navigate through certain processes, and we’re so glad we could help you overcome those hurdles. Our support team takes pride in providing respectful and personalized assistance to ensure our customers feel valued and supported every step of the way.
Your gratitude inspires us to continue going above and beyond for all our customers. If there’s ever anything else we can assist you with, please don’t hesitate to reach out. We’re here for you!
Payset Team
BAD experience, SUPPORT team not answering
Payset has a really slow and bad support team... my account closed with funds inside and they are not able to give me a proper answer regarding that matter , every other bank in the same scenario would transfer your funds in less than 10 banking days ... I have been waiting them for over 15 days now , and still not getting a positive feedback . but if you want to open an account with them everything will be very easy ..
November 4, 2024
Unprompted review
Reply from Payset Limited
Thank you for sharing your experience with us. We apologize for the frustration you’ve faced with the support process and the delay in resolving the issue with your account.
We understand how concerning it is to have funds inaccessible, and we are actively working to address such situations as swiftly as possible. While we strive to ensure a smooth and quick account setup, we recognize that our support response times and resolution processes must meet that same standard.
Please reach out to us directly at success@payset.io, and we will prioritize this matter to provide you with an update. Your feedback is incredibly valuable as we work to improve our service and support for all our clients.
Thank you again for your patience and for giving us an opportunity to make this right.
Payset team
it is impossible to contact them
it is impossible to contact them.
When you need assistance, it takes at least 2 days to get an answer, and then another 2 days to get another answer, they have a phone number that they never answer.
The platform leaves a lot to be desired and the whatsapp support is neither there nor expected even though they advertise it, nobody answers you.
November 1, 2024
Unprompted review
Reply from Payset Limited
Thank you for taking the time to share your feedback. We’re sorry to hear about your experience with our customer support and the platform.
We understand how important timely support is, and we apologize if our response times did not meet your expectations. We’re currently working to improve our response times across all channels, including WhatsApp and phone support, to ensure we’re there when you need us.
Your feedback regarding the platform is also valuable, and we’re committed to making enhancements that provide a smoother and more responsive experience for all users. If there’s anything specific we can assist with right now, please reach out to us directly at success@payset.io.
Thank you again for your patience and for giving us a chance to improve.
Payset team
If you have an eCommerce…
If you have an eCommerce marketplace...PAYSET PAYSET is not a good or viable option.
If you have an eCommerce marketplace that sells B2B, B2C in different countries like USA, UE Zone Payset for certain business branchs like videogames, electronics, giftcards and gamecards is not supported. After days, weeks of onboarding they (PAYSET) indicated that it is not possible because their "risk appetite" would not work.
We recommend those who are in these areas (digital goods, electronics, video games or related) not to waste time. We recommend platforms but not PAYSET.
PAYSET is not a good option, and as a positive recommendation for managers or team onboarding to not waste days or weeks on onboarding that informs companies in advance that PAYSET do not work with digital goods, videogames, electronics companies so as not to waste time on one side or the other, preparing sending +40 documentation files.
Best!
September 15, 2024
Unprompted review
Reply from Payset Limited
Thank you for sharing your experience and providing detailed feedback. We’re sorry to hear that Payset didn’t meet your needs for eCommerce transactions in specific industries like digital goods, electronics, and video games.
Due to industry-specific regulations and risk factors, we carefully evaluate each account to ensure it aligns with our compliance standards. We recognize that this process can be time-consuming, and we are continually working to streamline our onboarding to make it as efficient as possible.
We appreciate your feedback, as it helps us improve our communication and onboarding process, particularly when it comes to industries that may face limitations with our service. We encourage you to reach out directly if you’d like further assistance or if we can clarify anything else about our offerings.
Thank you again for your time and valuable input.
Payset team
go with an alternative iban service
the positive reviews are all bought and fake.
this service is an absolute diseaster. product is weak and supercheap and the customer support is non-responsive. i strongly suggest to go with another service.
August 23, 2024
Unprompted review
Reply from Payset Limited
Thank you for taking the time to share your feedback. We’re genuinely sorry to hear about your experience, as it’s our goal to provide quality products and excellent customer service.
We want to assure you that we take all feedback seriously, whether positive or negative, and all our reviews are authentic from real customers. Your concerns about product quality and responsiveness are important to us, and we’d like the chance to make this right.
If you’re open to it, please reach out to us directly at success@payset.io. We’d love to work with you to resolve any outstanding issues and address your concerns fully.
Thank you for giving us the opportunity to improve.
Cristina very lovely and kind
Cristina very lovely and kind
thank you for your support
shay
July 30, 2024
Unprompted review
Reply from Payset Limited
Thank you, Shay, for your kind words and for taking the time to share your feedback! We are delighted to hear that Cristina's support has been lovely and kind. Your appreciation means a lot to us and to Cristina your Customer Success Manager. If you need any further assistance, please don't hesitate to reach out. We look forward to continuing to support you!
Payset Team
Nice and smooth process to get started
Nice and smooth process to get started. A whole heap of ups and down with lots of turns to navigate but all easily done with professional help!
July 26, 2024
Unprompted review
Reply from Payset Limited
Thank you for your thoughtful review! We’re glad to hear that the process of getting started was nice and smooth for you. Navigating the ups and downs can indeed be challenging, and we're pleased to know that our professional assistance made it easier for you. Your feedback encourages us to maintain our commitment to providing top-notch support. If you need any further help, please don't hesitate to reach out. We look forward to continuing to assist you!
Payset Team
We always recommend our clients work…
We always recommend our clients work with Payset due to their extraordinary service. Their team is highly professional and supportive, especially when Nofar is involved.
June 17, 2024
Unprompted review
Reply from Payset Limited
Thank you so much for your glowing recommendation! We truly value the trust you place in Payset and are thrilled to hear that our team, especially Nofar, has provided you with the professional and supportive service we strive for. Your positive feedback motivates us to continue delivering exceptional service to all our clients.
Payset Team
The compliance has decided to terminate my account, after the same compliance had approved it to open...
It seems that the compliance has decided to terminate my account, after the same compliance had approved it to open...
So looks like the good review of mine was a way too fast. It turned out that the Payset was just a waste of time due to unprofessional compliance department. They could have refused to open an account from the beginning instead of having wasted my time.
June 16, 2024
Reply from Payset Limited
Thank you for sharing your feedback.
Our compliance process is designed to align with industry regulations and standards, and occasionally, situations arise where an account may need to be reviewed or reconsidered after being initially approved. We acknowledge that this can be a frustrating and time-consuming process, and we sincerely apologize for any inconvenience this has caused you.
Your time is valuable, and we’re committed to improving our processes to minimize disruptions and provide greater clarity during the account review stages. If you have any questions or would like to discuss your situation further, please don’t hesitate to reach out to us directly at operations@payset.io
Thank you again for your feedback, which helps us grow and refine our services.
Payset team
The team is not responding as soon as…
The team is not responding as soon as you get in trouble. Changing bank partners every 3-4month, that’s get you in problem because you can’t use SWIFT when you need, you use it only when there banking partner let them. We have a problem with fund sitting in our account without possibility to transfer them out EU. And they provide them as Worldwide company. Our funds were deducted from our account with statement status completed for month and after they just returned to our account. Saying that they don’t provide SWIFT services at the moment. Think twice are you ready to have loses before you sign contract with them . Can share emails of poor communication which them
June 14, 2024
Unprompted review
Reply from Payset Limited
Thank you for your feedback. We apologize for the inconvenience caused. Please reach out to us directly so our account manager can address and resolve your concerns promptly. Your satisfaction is important to us, and we appreciate your patience as we work to improve our services.
Payset Team
They open for my new company Virtual…
They open for my new company Virtual IBAN whith fast KYC verification.
May 27, 2024
Unprompted review
Reply from Payset Limited
Thank you so much for your positive review! We thrive for fast Onboarding and we aim to give our customer the best experience during this process!
The Payset Team
Arik Miller
have been a customer of Payset for the past three years, and my experience has been overwhelmingly positive.
Nofar is the best costumer relation manager I ever work with
Customer Service:
The customer service at Payset is exceptional. The representatives are friendly, knowledgeable, and always willing to go the extra mile to help. I have had several interactions with their customer service team, and each time, my issues were resolved quickly and efficiently. Whether it’s a simple question or a more complex issue, they handle it with professionalism and care.
Online Banking:
The online banking platform is very user-friendly and efficient. I find it incredibly easy to check my balance, transfer funds, and pay bills. The mobile app is equally impressive, offering all the functionalities I need on the go. The interface is intuitive, and I have never experienced any glitches or downtime.
Products and Services:
Payset offers a wide range of products and services that cater to my financial needs. From savings accounts to credit cards and loans, everything is designed to be customer-centric. The interest rates are competitive, and the terms are transparent.
Security:
I feel confident in the security measures that Payset has in place. They use the latest technology to protect my personal and financial information, and I receive timely alerts for any suspicious activity.
Overall, I am extremely satisfied with Payset and would highly recommend it to anyone looking for a reliable and customer-focused bank. Their commitment to excellent service and innovative banking solutions makes them stand out in the industry.
May 20, 2024
Unprompted review
Reply from Payset Limited
Thank you so much, Arik, for your wonderful and detailed review! 🌟 We are thrilled to hear that your experience with Payset over the past three years has been overwhelmingly positive. It’s especially heartwarming to know that Nofar has made such a significant impact as your customer relation manager.
We pride ourselves on providing exceptional customer service, and it’s fantastic to hear that our representatives have consistently met your needs with friendliness, knowledge, and professionalism.
We’re also pleased that our wide range of products and services cater well to your financial needs and that our security measures give you confidence. Your recommendation means a lot to us and reinforces our commitment to delivering excellent service and innovative solutions.
Thank you once again for your trust and loyalty. If there’s anything more we can do for you, please don’t hesitate to reach out.
Best regards,
The Payset Team
Honest review
We started working with this company not long ago, our manager was giving us the best service.He was always there to reply to us and with a smile, we loved to work with them.
We would like to thank Nofar for all her effort she was the main reason that we will recommend and give 5 starts easy.
May 1, 2024
Unprompted review
Reply from Payset Limited
Thank you so much for your wonderful review! We are thrilled to hear that your experience with our company has been so positive. It’s great to know that our service met your expectations and that our team was able to provide the support you needed.
Nofar is indeed a fantastic Customer Success Account Manager, and we are delighted to hear that her dedication and friendly approach made such a positive impact on your experience. We will be sure to pass along your kind words to her.
Your recommendation and 5-star rating mean the world to us. We look forward to continuing our successful partnership and providing you with excellent service in the future.
Thank you once again for your feedback!
Best regards,
Payset Team
The staff is very responsive
The staff is very responsive. Great experience and communication.
April 16, 2024
Unprompted review
Reply from Payset Limited
Hello Joseph,
We really appreciate your feedback!
Have a pleasant day ahead.
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