Best Sokin Alternatives for International Business Transfers
Sokin offers a flat-fee, card-free way to send money in 75+ currencies, but it’s not a one-size-fits-all solution.
With no forward contracts, no cards, and limited customer support, many businesses find themselves looking for a more flexible or hands-on provider as they scale.
Whether you're after better FX rates, local accounts, deeper integrations, or stronger support, here are the best alternatives to Sokin based on our first-hand reviews and detailed testing.
Author
Artiom Pucinskij
3 minutes
May 16th, 2025
Disclosure
Top Sokin Alternatives at a glance
Here are the top alternatives, and when they might be a better fit:
Wise Business - Best for small teams and international freelancers who want mid-market FX rates, 50+ supported currencies, and no monthly fee.
Airwallex - Great for growing businesses needing 12+ local accounts, spend management, and API integrations in one platform.
Revolut Business - Good for startups that want flat-fee plans, virtual cards, and integrated business features, though key tools require upgrading.
Payoneer - Ideal for marketplace sellers and global businesses receiving payments from platforms like Amazon, Upwork, or Fiverr.
Statrys - A solid pick for Hong Kong–based SMEs or Asia-focused companies wanting local payment rails and personalised onboarding.
XE Business - Best for companies focused on sending large payments across 190+ countries using risk-managed tools and APIs.
IFX Payments - Excellent for businesses making high-volume batch payments and managing currency risk with forward contracts.
Why you might need an alternative to Sokin
Sokin is a standout option for global businesses needing batch payments and multi-currency support, with 75+ currencies, no per-transfer fees, and support for large payouts, it’s well-suited to companies operating across Africa, Asia, and emerging markets.
But it’s not the right fit for every business.
You should look for an alternative if:
You need local accounts in multiple countries - especially if you want to receive payments like a local. Sokin only supports 4 local accounts (USD, GBP, EUR, CAD).
You want forward contracts or FX risk tools - Sokin doesn’t offer forward contracts, which may be essential for businesses managing large or future-dated transfers.
You require physical or virtual cards - Sokin doesn’t currently offer cards for business use, which limits expense tracking and online spending capabilities.
You need accounting integrations - There are no native integrations with tools like Xero, QuickBooks, or Sage.
You want more hands-on support - Sokin’s support is primarily digital, with fewer high-touch options like dedicated account managers or phone-based FX consultants.
You operate in regions like North America or Europe - Other business services offer better local payment coverage, faster transfers, or stronger compliance.
We’ve reviewed the top Sokin competitors that provide the flexibility and tools Sokin lacks.
Before diving into the full comparisons, here’s a snapshot of when each one might be a better fit:
Provider
When should you use it?
Key strength vs Sokin
Wise Business
Freelancers, small teams, global startups
50+ currencies, 10+ local accounts, interest on balances
Airwallex
Growth-stage teams need expense control & integrations
Cards, spend management, developer tools
Payoneer
Sellers on Amazon, Fiverr, Upwork
Marketplace integrations, card support, 9 local accounts
Revolut Business
Startups and SMEs wanting an all-in-one finance solution
Card options, tiered plans, in-app budgeting
Statrys
APAC-focused SMEs and B2B service providers
Low FX margins, fast setup, personalised support
IFX Payments
High-volume payouts and FX hedging needs
5,000 batch payments, forwards, account manager
XE Business
Businesses sending large international payments
API integration, no caps, strong risk management
Wise Business
Wise
Wise Business is a low-cost, self-service platform built for businesses that need reliable international payments, local accounts, and integration with existing software.
It’s especially strong for those who prioritize mid-market exchange rates, batch payments, and automations, but it lacks hands-on support and business cards in some regions, like the US.
Wise Business is good if…
Use Sokin if…
You want mid-market rates and transparent fees
You need integrations with Xero, QuickBooks, Shopify, etc.
You want to earn interest on held balances
You’re comfortable with a self-service platform
You want $0 transfer fees with flat FX margins (from 0.3%)
You just want a simple platform with built-in payment tools
You want higher batch payment limits (5,000 vs 1,000)
Airwallex is one of the most fully featured platforms for businesses operating across multiple countries.
With 12 local accounts, support for 130 currencies, strong batch payment capabilities, and robust expense management, it's ideal for companies that need global reach, cards, and custom workflows.
That said, card fees and regional service availability might not suit every business.
Airwallex is good if…
Use Sokin if…
You want access to more local accounts (12 vs 4)
You need support for 130+ currencies across global regions
You need real-time expense tracking with virtual/physical cards
You want reusable templates and layered batch payment approvals
You prefer a lightweight platform with no setup or card fees
You want to hold slightly more currencies (75+ vs ~70)
You don’t need cards at all, and want simple batch transfers
You prioritize higher batch limits (5,000 vs 1,000)
No forward contracts, but hedging through multicurrency usage
Fees & rates comparison
Feature
Airwallex
Sokin
Exchange rate markup
0.5%–1.0% above interbank
From 0.3%
Sending fee
Free (non-SWIFT)
Free
SWIFT Transfers
$10–$25
Not available
Receiving via cards
2.8%–4.3% + $0.30
1.2% (marketplace payments)
Local bank receiving
Free
Free
Monthly fee
None
None
Currency & account support
Feature
Airwallex
Sokin
Local accounts
12
4
Holding currencies
130+
75+
Multi-region coverage
North America, Europe, Asia, Africa
Strong in Africa, Asia, Latin America
Interest on balances
❌
✅ (1–3% with Premium/Boost Wallets)
SWIFT access
✅
❌
Business tools & features
Feature
Airwallex
Sokin
Batch payments
✅ Up to 1,000
✅ Up to 5,000
Expense management
✅ Real-time + reimbursements
✅ (limited, payment only)
Business cards
✅ Virtual & physical
❌
API & automation
✅ Advanced
✅ (basic)
Marketplace integration
✅ Amazon, Shopify, Lazada, etc.
✅ (Stripe-like)
Accounting integrations
✅ Xero, QuickBooks, Sage, NetSuite
✅ (basic API connectivity)
Please share your experience with Airwallex
Would you recommend Airwallex?
Comments
Anonymous
Airwallex's FX service has made my life so much easier. The transfers are super quick, happening in seconds because Airwallex uses its own local payment network, not SWIFT. I also love that I can easily open foreign currency accounts with local bank details. This means my clients from different countries can send local transfers to my account without any hassle. It's a great solution for anyone looking for fast, reliable international money transfers. Highly recommend!
Yes, I recommend
11th April 2025
Ejike
Unfortunately Airwallex would collect your information only to realize that they don't have presence in your business region. Sad!
Revolut Business is a tiered multi-currency platform that offers strong virtual card tools, app integrations, and account automation, but only if you’re on a paid plan.
While its UI and features appeal to modern SMEs, the limited local accounts, capped FX at mid-market rates, and lack of support for sole traders make it less competitive than other options unless you’re on the highest tiers.
Revolut is good if…
Use Sokin if…
You need large-scale virtual cards for teams
You want custom integrations (Slack, Zapier, Xero, etc.)
You need real-time card spend control with analytics
You’re an incorporated company with consistent cash flow
You want to avoid all monthly fees and feature restrictions
You don’t want to be gated by tiered pricing
You don’t need physical or virtual cards at all
You want a simpler, flat-fee-free multi-currency platform
Payoneer is a long-standing platform built for freelancers, online sellers, and businesses expanding into global markets.
It offers strong local account coverage (9 accounts in 190 countries), powerful integrations, and one of the best invoice + marketplace payment systems.
It’s particularly useful for receiving international funds, but expensive FX, no forward contracts, and limited card currency support mean it’s not ideal for all outgoing payments.
Payoneer is good if…
Use Sokin if…
You receive income from global platforms like Etsy, Fiverr, or Airbnb
You need robust invoicing, payouts, and API tools
You want virtual card control in multiple currencies (USD, GBP, etc.)
Your business operates across Africa, Asia, and the Middle East
You want a flat, simple, fee-free setup
You care more about low FX fees on outgoing transfers
You don’t want to deal with annual card or account fees
You don't need forward contracts or marketplace integrations
Statrys is a Hong Kong-based provider focused on multi-currency accounts, FX, and business payments for SMEs operating in Asia-Pacific.
It stands out for its human-first customer service, transparent pricing, and support for businesses based in (or linked to) Hong Kong, Singapore, or the BVI.
But it’s missing batch payments, global payroll, and cards with wide usage, making it better for regionally-focused operations than global scale.
Statrys is good if…
Use Sokin if…
Your business is registered in or tied to Hong Kong or Singapore
You need personal account support and local payment routing
You want transparent FX markups as low as 0.15%
You don’t need batch payments or global payroll
You want global account access without residency limits
You prefer a low-cost, self-serve model with no monthly fees
You don’t mind less visibility on FX but want flat fees
You want to send to 200+ countries with no transfer fees
XE Business is ideal for companies focused on high-volume international payments without needing local account details or business debit cards.
While it doesn’t offer the banking-style account functionality of platforms like Wise or Sokin, it excels in FX tools, batch payouts, and custom API integrations, especially for businesses that want to plug into platforms like Sage or Microsoft ERP tools.
Unlike Sokin, it also offers forward contracts for hedging currency risk.
XE is good if…
Use Sokin if…
You want to hedge FX risk with forward contracts
You send high-volume payments to 190+ countries
You need ERP or accounting integrations like Sage or Dynamics
You don’t need local bank details or card access
You prefer flat-fee global transfers with no contract needed
You want to hold 75 currencies in a single interface
You want a simple, app-based business account
You need multi-currency local accounts and card-free access
Here are some of the key features offered by XEthat are better than Sokin:
Access to 130+ currencies for outbound payments
Real-time FX data and currency converter API
Batch payments for up to 1,000 recipients
Dedicated account manager + phone support
Regulated in 6+ major regions (US, UK, EU, CA, AU, NZ)
No card access, no inbound payments, no local accounts
Fees & FX comparison
Feature
XE Business
Sokin
Monthly fee
$0
$0
Exchange rate markup
1%–1.3% (on average)
From 0.3%
Sending fees
Mostly free (some exceptions)
Free
Receiving fees
❌ Not supported
N/A
ATM or card fees
❌ Not supported
N/A
Currency & account support
Feature
XE Business
Sokin
Local accounts
❌ Not supported
✅ 4 local accounts
Holding currencies
❌ (only for exchange and send)
✅ 75+ currencies
Batch payments
✅ Up to 1,000
✅ Up to 5,000
SWIFT support
✅ With tracking
✅
Business Tools & FX Options
Feature
XE Business
Sokin
Forward contracts
✅ Yes
❌
Accounting integrations
✅ Sage, Microsoft Dynamics
❌
Expense tracking
Via accounting API only
❌
Dedicated account manager
✅ Included
❌
Virtual/physical cards
❌ Not available
❌
Please share your experience with Xe
Would you recommend Xe?
Comments
Cristobal Matute
I just sent money with them. I had tried before with Wise and my bank, but their support helped me a lot and gave me a better rate than both. They kept me informed at all times about where the money was and the ETA. I’ve had bad experiences in the past with companies losing my money for days
Yes, I recommend
23rd July 2025
Ron T
This information is not accurate for XE business accounts. They do not charge a fee but instead, make their money by giving you a much lower exchange rate. It is much more than $4. e.g. We are being quoted $20 higher than the market rate on a $330 transfer. That is ~7%
IFX Payments stands out for its robust batch payment capacity (up to 5,000 recipients) and dedicated FX consultancy, making it a top-tier option for businesses needing precision and support with high-volume cross-border payments.
Through their flagship product, iBanq, IFX provides multi-currency virtual IBANs for receiving and holding 46 currencies, as well as access to forward contracts, a notable edge over Sokin for businesses managing FX risk.
IFX Payments is good if…
Use Sokin if…
You want FX support and forward contracts
You send 5,000+ monthly payments and want broker access
You prefer virtual IBANs for receiving and sending
You want UK-based support with a named account manager
You want flat-fee, card-free global transfers
You want a simple mobile experience with 75+ currencies
You want local accounts in key currencies
You need multi-currency wallets with app-level control
We've also looked at what alternatives will suit your business depending on your use cases and business needs.
Lower fees or better FX rates
Sokin charges a monthly fee and does not offer the best FX rates for all corridors. These providers offer better fee structures or exchange rate transparency.
Provider
Why it’s a better fit than Sokin
Wise Business
Mid-market rates with no markup, no monthly fee, fully transparent costs
Revolut Business
Tiered plans allow flexible pricing, better card support without monthly Sokin-style limits
IFX Payments
Fees negotiable based on volume; FX markup as low as 0.05%
Broader global currency coverage
Sokin supports 75+ currencies, which is a lot, but not always optimal for niche currencies or advanced payout routes.
Provider
Why it’s a better fit than Sokin
Payoneer
Accepts payments from 190+ countries, supports 70+ currencies, and has 9 local accounts
XE Business
Supports sending to 130+ currencies across 190+ countries
Airwallex
Offers access to 130+ currencies and 12 local accounts
Larger volume or more flexible batch payments
Sokin supports batch payments up to 5,000, but lacks advanced controls like forward contracts or local accounts.
Provider
Why it’s a better fit than Sokin
IFX Payments
Also supports 5,000 batch payments but adds 46 IBAN currencies + FX contracts
OFX Business
No transfer limits, supports hedging tools, and enterprise-grade account management
XE Business
Batch up to 1,000; better risk management and FX flexibility
Freelancers or small businesses without monthly fees
Sokin requires a monthly fee and doesn’t support sole traders in all markets.
Provider
Why it’s a better fit than Sokin
Wise Business
No monthly fees, better for freelancers and startups
Payoneer
Free to use unless inactive; excellent for marketplace sellers
Statrys
Transparent fee structure; works well for small businesses in Asia
More flexible cards or expense management
Sokin does not offer business cards. If you need card access, choose from:
Provider
Why it’s a better fit than Sokin
Multipass
Offers 15 cards per account; local spending access in Asia
Wise Business
Multi-currency cards with global ATM access and spending controls
Revolut Business
Virtual & physical cards; strong card-level expense and team controls
Regardless of the option you pick, we recommend running a quick search below to make sure your business needs align with the company you use.
If you’re still unsure and want to know more, we’ve created in-depth reviews for each of these companies.
Their flagship product, ibanq, provides multi-currency virtual IBAN accounts, enabling businesses to receive, hold, and send funds across borders, giving companies greater control over their global cash flow. Their mass payment functionality simplifies payroll and supplier payments, even across multiple currencies, ensuring businesses can process international payments in bulk without opening local currency accounts.
Our key measures when testing Wise Business for international business transfers were the product offering, cost, speed, safety and customer satisfaction. We've covered the key points in the table below and each element in more detail throughout the review.
Historically, Moneycorp is considered one of the biggest money transfer providers in the world. The company has over 45 years of history and launch in the USA in 2018. The company is headquartered in the UK but with offices in USA, Ireland, France, Romania, UAE, Hong Kong, Australia and Brazil.
Our key measures when testing OFX Business for international business transfers were the strength of the product offering, cost of service and transfers, speed, safety and customer satisfaction.
Xe Business offers strong all-round support for international business transfers. As part of our scoring process we have looked at product offering, cost, speed of transfers, safety and customer satisfaction.
Multipass offers a strong selection of multi-currency option. A setup fee and higher monthly fees than elsewhere are a little offputting when you consider exchange rates are higher than Airwallex, Wise Buiness and Revolut Business.
Globally Payoneer serves around 190 countries, gives access to local accounts in 9 and supports 70 currencies. Features within the account allow you to take advantage of payments, invoicing and bulk options in each location. Where Payoneer is stronger than the likes of Revolut Business or Wise Business, is that it is built for international companies - as opposed to being an offshoot of a personal offering. This sets them apart from other providers, alongside the likes of Airwallex, by offering a full international business solution.
When scoring Airwallex as an international business provider we factored in the product offering, speed of sending money, cost, safety measures in place and customer satisfaction.
No, Sokin only offers business accounts. Personal accounts were discontinued. If you want a personal account and a business account, we recommend looking at Wise.
Does Sokin support batch payments or local accounts?
Yes, up to 5,000 batch payments per run and access to 4 local accounts (USD, GBP, EUR, CAD). No cards or forward contracts, though.
What’s better than a flat monthly fee?
Pay-as-you-go models (like Wise or Revolut) can save money if you're not making high-volume transfers every month.
Help & FAQ
Get answers to the most common questions asked when sending money abroad. Covers costs, fees and the best way to compare.
Currenxie is a solid option for businesses needing a virtual multi-currency account, especially for those based in Hong Kong. But depending on where and how you operate, it might not be the best fit.
Multipass is a solid platform for holding and sending money across currencies, especially with its multi-currency IBANs and regulated financial infrastructure.
With 6+ years of hands-on experience in international money transfer services, Artiom has tested and analyzed dozens of companies, services, and apps firsthand. From sending money between the UK, EU, US, JP, and ID, to helping friends and family transfer large amounts abroad, he combines deep personal experience with industry insight.
He has worked on content and product at MoneyTransfers.com since 2019, with a focus on FX rates, transfer apps & companies, and comparison tools. His work has been featured in Forbes, Yahoo Finance, Decrypt, PoundSterling, and more.
With 6+ years of hands-on experience in international money transfer services, Artiom has tested and analyzed dozens of companies, services, and apps firsthand. From sending money between the UK, EU, US, JP, and ID, to helping friends and family transfer large amounts abroad, he combines deep personal experience with industry insight.
He has worked on content and product at MoneyTransfers.com since 2019, with a focus on FX rates, transfer apps & companies, and comparison tools. His work has been featured in Forbes, Yahoo Finance, Decrypt, PoundSterling, and more.