Guide to sending large payments with Sokin UK, including transfer limits

Businesses often need to make large payments, whether it’s paying supplier invoices or investing in new equipment. But if you can’t find the right payment provider, it can be expensive to send high-value transfers - especially if you do it regularly.

This guide looks at how large payments work with Sokin, the London-based fintech providing global payment and multi-currency account solutions to UK businesses. It covers how to set up a transfer, average transfer times, limits, security considerations and fees.

Plus, a look at an alternative - Wise Business. You can securely send large transfers with Wise Business for low fees and mid-market exchange rates. This makes it ideal if you’re making a transfer across international borders.

💡 Learn more about Wise Business

Can you use Sokin for large transfers?

Sokin business accounts can be used for making high value business transfers, both in the UK and internationally. However, Sokin doesn’t mention any limits for payments, although the small print (in its terms and conditions) does say that there may be some account and transaction limits - and that these will be communicated to you when you open an account.²

So if you’re not yet signed up and aren’t sure whether Sokin will be the right choice for the payments you want to make, it could be worth getting in touch for more information.

With Sokin, you can send money via SWIFT, local payment rails (i.e. Faster Payments in the UK and SEPA in Europe) and instant transfers to other Sokin users. The provider also offers a bulk payments tool, letting you send to up to 5,000 people/businesses at once.¹

Is Sokin safe for large payments?

Security will always be a top priority when sending large amounts, so it’s important to choose a regulated, trustworthy provider.

Sokin UK uses advanced security measures to protect accounts, payments and sensitive information.

This includes:

• Access control, including encryption keys for authorised users
• Data encryption
• Multi-factor authentication (MFA) to protect data access
• Compliance with Know Your Customer (KYC) identity checks when opening accounts
• Annual penetration testing and control self-assessments
• Vulnerability and system monitoring procedures.

It also uses safeguarding, where customer money is kept separate from its own funds - held in specially designated, ring-fenced client accounts at regulated banks and credit institutions. This does mean though that you don’t have any FSCS protection for your business funds.

When using any financial service, it’s crucial to take sensible precautions to protect yourself and your business when sending payments. These include double-checking recipient bank details, keeping your online banking details secure and being vigilant against scams.

How to make a large payment with Sokin

You can make a Sokin large payment online or via the provider’s mobile app. As it is a digital service, it doesn’t have any physical branches, so you can’t set up payments in person.

Before you can send your transfer, you’ll need to have the recipient’s details to hand. Here’s what you’ll need:

• The recipient’s name or business name as it appears on their bank account
• Their bank account number and sort code
• The type of account (i.e. a business account).

If you’re sending an international payment, you’ll also need additional details such as an International Bank Account Number (IBAN) and SWIFT/BIC code.

To set up your payment, follow these steps:³

1. Sign in to your Sokin account online or via the app
2. Select ‘Transfers’
3. Select ‘External Transfer’
4. Choose an existing beneficiary from the list - or add recipient details for a new beneficiary
5. Select ‘Transfer’
6. Choose a ‘Source’ currency - this must be a currency wallet available in your account
7. Enter the amount you want to send - this is either the amount you’re sending in the ‘You send’ field, or the amount the recipient receives after fees and currency conversion in the ‘Recipient gets’ field.
8. Add a reference (optional)
9. Provide a reason for the transfer (if applicable)
10. Check all the details carefully in the ‘Transfer Summary’, including the exchange rate, fees, amount to be converted and cut-off time.
11. Once you’re happy, click ‘Next’ and then ‘Submit’ to send the transfer for approval.

Once you’ve submitted the request, it will be approved by a designated ‘Checker’ and processed. It then appears in your transaction history as a debited transaction against the source currency.

In the case of some large payments, it’s possible that you may be contacted by Sokin for extra checks or asked to provide additional verification documents showing the source of the funds (for example, business bank statements).

This is standard practice in the money transfer world, in order for providers to comply with anti-money laundering, anti-fraud and other financial regulations.

Get expert support for your large transfer 📞

How long do large transfers take with Sokin?

Sokin large transfer times are determined by the payment method and currency route.

Local payment methods such as Faster Payments (UK), SEPA (EEA) and ACH (US) are typically pretty fast. These often take minutes, although some can take up to 24 hours to arrive.⁴

For SWIFT international payments, Sokin gives an average transfer time of 2 working days.⁴

What's the Sokin maximum transfer limit?

You’ll also need to know how much you can send in one payment, and per day. If you can’t make the whole of the required payment in one go, it could cause delays for your suppliers or anyone else you’re paying.

Sokin transfer limits aren’t available on its website, although it does mention in its terms and conditions that accounts may have some transaction limits. It says:²

“The limits and restrictions that apply to your Account and Card will be communicated to you during the Account set-up process and/or before the Card is issued to you (as applicable). These limits may also change over time based on your Account and/or Card usage; any such change will be communicated to you. You can check the limits at any time by contacting Customer Services.”

So in short, you should be told what the Sokin maximum payment limit is when you open an account. But you can also contact the provider to find out what your specific limits are.

What are the Sokin fees for large transfers?

Now for the all-important question - how much does it cost to use Sokin for large transfers?

Here’s a quick look at Sokin large transfer fees:¹

• fees correct as of 16.07.26

Transfers between Sokin accounts are free of charge, and there are no additional charges to make use of the Sokin bulk payments service.

To make use of local payment networks with Sokin, you’ll need to make use of its multi-currency wallet. This gives you local account details for 5 major currencies (GBP, EUR, USD, AUD and CAD).¹ This lets you tap into local payment rails to make payments within that country, just like a local.

Sokin exchange rates for international large transfers

While Sokin’s fees may seem fairly straightforward, there’s another cost to consider that is a little more complicated. This is the exchange rate for converting currency, which will be essential to know if you’re sending an international payment.

Providers such as Sokin typically add their own margin to the mid-market exchange rate, which can make the transfer more expensive - especially if you’re sending large amounts.

Sokin varies its FX margins based on the currency, with major currencies starting from 0.3% and minor currencies from 0.8%.¹

An Sokin alternative: use Wise Business for large transfers

As an alternative to Sokin, check out Wise Business - which has multi-currency account and card solutions for businesses of all sizes. Weigh up between Sokin vs Wise Business, across key features, pricing and more.

It also has a dedicated secure service for sending large payments.

Wise transfer limits depend on what currency is being sent, here's a few of the most popular:

• GBP - £20 million GBP per transfer
• EUR - €20 million EUR per transfer
• USD - $20 million USD when paying from your USD account, $1.6 million per SWIFT transfer.

It’s also worth knowing that Wise offers discounts for sending large amounts over £20,000 (or the currency equivalent). The more you send, the more you save.

You can open up a Wise Business account for free, and send large payments right away with the Essential plan. All accounts can hold and exchange 40+ currencies. With Wise Business Advanced, available for a one-time fee of just £50, you can receive payments like a local with major currency account details. There are no ongoing monthly fees and no minimum balance requirements.

Whenever you need to convert currencies, to send a payment or spend with your Wise debit card, you’ll get the mid-market exchange rate and low conversion costs from 0.33%.

You also have the ability to earn a return on GBP, EUR and USD funds with Wise Interest (capital at risk, growth not guaranteed). See more information at Wise Business Interest.

With Wise Business, you can:

• 🌍 Send money to 70+ countries at the mid-market exchange rate with low, transparent fees and no hidden exchange rate markups (product availability varies by region)
• 📥 Receive payments in 24 currencies and counting
• 💵 Get local account details for 8+ currencies, including USD and EUR, to let your customers pay in a currency they know and trust - convenience for them and peace of mind for you
• 💰 Hold money in 40+ currencies
• 🔁 Convert currencies anytime at the mid-market exchange rate with low, transparent fees
• ⚡ Use the batch payments tool to create and send up to 1,000 payments in a single transfer
• 👥 Run payroll and make international payments for up to 1,000 employees all over the world - including paying suppliers using local payment methods like ACH, SEPA, and Faster Payments
• 💳 Get business debit cards with 0.5% cashback for you and your team to keep track of team expenses and spend all over the world, with real-time visibility and categorisation
• 🏢 Manage cash in 55+ currencies across international offices from a single business account and move money between business accounts in seconds (exact speeds can vary depending on individual circumstances and may not be the same for all transactions)
• 🧾 Connect and sync every business transaction to your favourite accounting software, including Xero, Quickbooks, and more
• 🔐 Create your own payment approvals process to manage your team better with customised access for different team members, roles and permissions
• 📑 Create custom professional invoices and schedule invoice payments for future dates
• 📈 Earn variable returns on GBP, USD and EUR with Wise Interest (Capital at risk, growth not guaranteed. Your money is at risk if governments default or interest rates go negative. Rates vary by country and currency. Rates are variable. Visit Wise Interest to find out more)
• 🔗 Create payment links and QR codes to get paid easily (Card payment acceptance for new Wise Business customers is currently unavailable. Payment methods subject to eligibility and availability.)
• ⚙️ Automate payouts with the Wise API (comes with 24/7 customer support, a sandbox account to test integrations, API tokens, and clear documents on how to implement and make the most of our API)

Make the wise choice when selecting a business account for your domestic and global needs.

Be Smart, Get Wise.

Register for Wise Business ✍️

**Investments are not guaranteed, and your capital is at risk.

Wise is an Electronic Money Institution (EMI), so features like Interest and Stocks may be covered by the Financial Services Compensation Scheme (FSCS). For standard cash balances, we safeguard your funds to meet regulatory obligations.

In the UK, Interest and Stocks are provided by Wise Assets, the trading name of Wise Assets UK Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA number 839689).

We do not provide investment advice, and taxes may apply. If unsure, seek qualified financial advice. Full fund information is available on our website.

FAQs

How do you send money with Sokin?

All transfers with Sokin can be set up online, or on the move with the Sokin mobile app. It’s simply a matter of navigating to ‘Transfers’ and then following the on-screen instructions. Before you start, you’ll need to make sure you’ve added the new beneficiary.

What countries does Sokin operate in?

Sokin currently supports onboarding for businesses registered in over 200 countries and territories.⁵

---

Sources used:

1. Sokin - Pricing
2. Sokin - Account Terms and Conditions
3. Sokin - Support - External Transfer
4. Sokin - Global Payments
5. Sokin - Support - Countries Eligible for a Sokin Account

Sources last checked 16-Jul-2026