Check out the top 5 EMIs in the UK 2025
We have already reached the halfway point of 2025, where the fintech industry and Electronic Money Institutions (EMI) have progressed hugely, focusing more on offering innovative digital solutions. As per reports, the global fintech market will exceed $340bn at the end of 2025, and by 2032, this number will significantly reach $1,152 billion, almost four times higher.
EMIs are considered one of the most important parts of this ecosystem as they provide the best digital payment services and electronic money and meet users’ and companies’ requirements. Furthermore, operating faster than traditional banks, EMIs provide more cost-effective services. These features make them key players in cashless payments and access to different financial services. However, let’s explore the top 5 EMIs in the UK that add significant value to this expanding digital landscape.
Key Takeaways
According to the latest graph of 2025, the UK’s Electronic Money Institution (EMI) sector is expected to witness continued growth and innovation.
This will expand significantly in digital payments and cross-border transactions.
EMIs are now investing more in AI-driven fraud prevention tools. As a result, this enhances authentication, detects anomalies in real-time, and even verifies the authenticity of communications.
EMIs offer more efficient and cost-effective payment solutions, especially for international transactions.
The EMI sector is becoming highly competitive with each passing day. The reasons behind this are new players entering the market.
What Is an EMI Account?
An Electronic Money Institution (EMI) is a financial organization. It is authorized to issue electronic money to payers, assisting in making hassle-free payments. Primarily, EMI accounts help to facilitate safe digital transactions. However, unlike conventional financial institutions focusing on loans and savings accounts, EMIs assist in managing electronic payments and digital wallets. As they do not offer lending services, these services distinguish EMIs from traditional banks. EMIs also operate under specific regulations, fostering better and innovative approaches within the financial sector.
Top 5 EMIs to Watch for in the UK, 2025
As the EMI landscape constantly evolves, with new players entering the market, it is difficult to determine a top “5”. But based on features, usage, and users’ reviews, we have made a list of the top 5. So, let’s explore.
Wise Payments Limited (United Kingdom)
Focusing on international money transfers, Wise Payments Limited provides the best services for both personal and business needs. This also offers IBANs, prepaid cards, and international payments. The company, working in more than 70 countries, offers comparably low exchange rates without additional fees. Their platform is also very easy to use, with well-rated mobile apps for iOS and Android.
- Prime features
- Multi-currency account
- Payments support to 70+ countries
- Debit cards
- Bulk payments
- Currency exchange in 50+ currencies
- Pros
- As it supports local bank transfers, it promotes speedy international transactions.
- By offering transactions in over 50 currencies, Wise Payments Limited makes it easy for users to send, receive, and convert money globally.
- Rates also match the mid-market exchange rate without any hidden fees. Thus, it ensures transparency and fairness without any hidden charges.
- The platform specifically meets personal and commercial needs because of its user-friendly interface.
- It also supports robot batch payments and multi-currency accounts.
- Who Can Use It
- Wise is ideal for freelancers and international travellers who want to send or receive money globally.
- Enterprises and financial institutions also get assistance from it because of the bulk payment option.
2. Transferra (UK)
Transferra is a UK-based electronic money institution that provides companies with many IBAN accounts. It even supports multiple currencies, which makes the EMI option ideal for easy foreign transactions. The platform even allows SEPA and SWIFT transfers along with debit VISA cards. It also works for Apple and Google Pay and provides excellent customer assistance and a personal account manager.
- Prime features
- Multi-currency accounts
- Payments to 180+ countries
- Currency exchange in 35+ currencies
- Visa debit cards with Apple & Google Pay
- Personal dedicated account manager
- iOS and Android app
- Pros
- Dedicated account managers offer tailored support and advice.
- It promises smooth and informed decision-making for many businesses, particularly those dealing with complex or high-value transactions.
- Transferra can easily process large transactions without limits; therefore, those that run globally and other sectors find it suitable for huge payments.
- It offers virtual debit cards support and also provide Apple and Google Pay options.
- Helps in quick transfers in the UK and Europe. Thus, businesses can easily operate the financial matters without delay.
- Who Can Use It
- SMBs and startups are looking for reliable international payment processing.
- E-commerce, digital businesses, and those involved in international trade need multi-currency support and fast transactions.
- Companies that require premium customer service and large transaction handling capabilities.
3. PaySet (United Kingdom)
PaySet Limited is another UK-based electronic money institution highly popular for giving multi-currency IBAN accounts. It even offers different services for individuals, workers, small businesses, and large enterprises. Thus, businesses and individuals can easily handle foreign transactions. PaySet also offers a prepaid card that works with different payment systems. This has made it very safe and easy for people handling funds from different currencies and countries.
- Prime features
- Multi-Currency Account
- Payment Networks: SWIFT, SEPA, ACH, Fedwire, Faster Payments, BACS, and CHAPS
- Currency exchange in 34 currencies
- Prepaid Card: Online, in-store, or ATM transactions
- Personal Account Manager
- Pros
- It assists in receiving money in 34 currencies and even helps to send it to up to 38 currencies.
- This feature assists users in handling a wide range of currencies when receiving and sending funds.
- It supports seamless integration of multiple payment networks. These include – SWIFT, SEPA, ACH, Fedwire, Faster Payments, BACS, CHAPS, and PaySet.
- These networks ensure users can easily access various international and domestic transfer options.
- It supports prepaid cards easily used in-store, online, or even in ATM transactions.
- The availability of some globally usable prepaid cards also provides a convenient way for many users to manage and access their funds safely.
- No additional fees for sending money to other PaySet accounts.
- Who Can Use It
- PaySet is ideal for international payments.
- Both businesses and individuals use this.
- Freelancers and small businesses also benefit from this, as it supports multiple currencies.
- It makes the payment to employees easier or even assists businesses in receiving money from worldwide clients.
- Startups, businesses, and sellers use this for easy cross-border payments.
- It is also safe for people who regularly send money to different places and spend on traveling abroad.
4. MultiPass Platforms Limited (United Kingdom)
MultiPass is a UK-based startup bank. It is built to manage finances for different foreign companies. Offering virtual IBANs in multiple currencies makes the whole cross-border payment process easier. This is why many small and medium-sized businesses offer personalized customer support using their new technology.
- Prime Features
- Multi-currency account
- Currency exchange in 70+ currencies
- Payments to over 200+ countries
- Dedicated Personal Manager
- Batch Payments
- API Integration
- Virtual & Physical card
- Pros
- It offers one of the best and competitive exchange rates, which is 0.2%–2%
- The lowest payment fees start at GBP 0.50.
- The EMI option supports 30+ currencies and enables easy payments to over 180 countries
- Supports local payment in approx 20+ markets.
- Provides multi-currency accounts.
- Who Can Use It
- MultiPass is highly preferred by small and medium-sized businesses (SMEs), startups, and international enterprises.
- IT companies, different marketing firms, and many e-commerce businesses also use this.
- It is also ideal for businesses that must make payments in different countries or deal with various currencies.
5. Airwallex (UK) Limited (United Kingdom)
Airwallex Limited in the UK provides various digital options. Many businesses that run global operations are looking for such an option. It also offers fast and cheap worldwide payment options, including assistance with global accounts, payment cards, and different financial services.
Businesses also find EMI’s services helpful in making cross-border payments and handling different currencies easily. However, the best part is that there are no hidden fees, which helps make the foreign transfers quick; approximately 70% of the process is completed within the same day.
- Main features
- Multi-currency accounts
- Payments to 150+ countries
- Currency exchange in 60+ currencies
- Batch transfers
- Virtual VISA cards
- Individual permissions for employees and even for third parties
- Connection with different software such as Xero, HubSpot, and QuickBooks
- Pros
- No account setup or maintenance fees are required.
- The best competitive rates are offered for all international transfers and currency conversions.
- Automated approval workflows
- Real-time visibility that makes managing finances easier among teams
- Offers seamless integration with different platforms such as Shopify and WooCommerce.
- It also supports personalised payment links, allowing businesses to accept global customer payments.
- Who It’s Best For
- Airwallex is ideal for individuals.
- Small to medium-sized businesses (SMBs), especially those that operate globally.
- Due to its worldwide presence, this EMI accepts different currencies,
- It also comes with some trendy tools that assist businesses in managing financial transactions across countries.
- eCommerce businesses can also easily use this and connect it with popular platforms, such as Shopify and WooCommerce.
Conclusion
If you want to handle your money, dealing with the right EMI account is very important. However, the best choice for an EMI account always depends on your needs and preferences. So, if you are looking for options that offer affordable payments or assist your business with multiple currencies, you can opt for an EMI.
But, looking at and comparing different EMIs that could meet your needs is necessary. You can ask for help from Capitalixe. As they are a financial advisory company connecting businesses with regulated banks and EMI partners, they can guide you to make the best decision for your financial future.
