Today’s businesses are global from day one. Whether you’re building a SaaS product, running a remote-first agency, or launching an e-commerce brand, you’re likely dealing with customers, partners, or suppliers across multiple countries.
But while it’s never been easier to launch a business, handling international payments can still feel frustrating, slow, and expensive. Traditional banking doesn’t always keep up with the way startups move.
In this guide, we’ll walk you through how early-stage businesses in the UK and Europe can set up smart, flexible payment systems that work across currencies and borders, without wasting weeks on paperwork or losing money to unnecessary fees.
Why International Payments Matter Early
You might think global banking is something to worry about later. But most startups run into it within the first year. You could be billing a client in the US, hiring a freelancer in Eastern Europe, or sourcing inventory from Asia. If your payment setup isn’t ready, you risk delays, added costs, and lost credibility.
Getting the right infrastructure in place early can save you time, money, and headaches down the road.
Where Traditional Banks Let Businesses Down
If you’ve ever tried to set up international banking through a high street bank, you already know how slow and manual the process can be. It often involves paperwork, long verification processes, and limited flexibility.
Many banks won’t let you hold multiple currencies in a single account. Others require you to convert foreign payments into your local currency immediately, often at poor exchange rates. And if you’re trying to send money abroad, you’ll probably face delays and unexpected fees along the way.
Modern organisations move quickly. Traditional banks often don’t.
What Is an EMI, And Why It Changes Everything
An Electronic Money Institution (EMI) is a licensed financial entity that can issue digital money and provide payment services without being a traditional bank.
EMIs are regulated (just like banks) but are purpose-built for speed, flexibility, and innovation. That makes them ideal for businesses that operate online or across borders.
Here’s why EMIs are a game changer:
- Faster onboarding: Fully digital verification means you can open an account in days, not months
- More flexibility: EMIs support services like multi-currency accounts, dedicated IBANs, and real-time FX
- Lower costs: With leaner infrastructure, EMIs often offer more competitive rates and lower fees
- Built for growth: EMIs are designed for tech-savvy businesses and global payments, not local branch visits
What a Flexible Payment Setup Looks Like
To stay competitive, you need a smarter way to manage global payments. Ideally, your business should be able to accept payments in multiple currencies, hold those currencies without being forced to convert them, and send funds abroad with minimal effort.
One of the most important tools for this is the dedicated IBAN. These are unique account numbers tied to your business in specific currencies. They make it easier to get paid by international clients and help ensure your transfers arrive quickly and accurately.
You’ll also benefit from a multi-currency account: one that lets you manage different currencies from a single dashboard, with clear FX rates and fast conversions when you choose. Combined with local payment capabilities like SEPA in Europe and Faster Payments in the UK, this kind of setup gives you full control over how your business handles money across borders.
And now, thanks to FCA regulated EMIs like Payine, you don’t need to wait weeks or deal with red tape to get started.
Final Thoughts
If you’re building a business in the UK or Europe, setting up international payments shouldn’t be a struggle. You deserve tools that move as fast as your team does. Tools that simplify your operations instead of slowing them down.
Whether you’re managing cross-border sales, paying a remote team, or preparing to expand into new markets, your financial setup should support your growth, not stand in the way.
Let’s talk.
Let’s make your payment operations easier, faster, and more efficient. Reach out now and speak with someone who can guide you through tailored solutions.
