Is Payhof a licensed provider?
Yes, Payhof is an authorised Electronic Money Institution agent working under Payswix, UAB license (Nr. 21)
Is it safe to send money through Payhof?
Of course, your safety is one of our top priorities. We are completely transparent with our customers when it comes to their accounts and transactions. You will be kept informed about your account status and payments.
What is a SWIFT transfer?
This payment method is used to transfer the funds internationally using SWIFT international payment network. Hence, using this transfer method, you will be able to perform transactions to countries outside the EU or EEA. The SWIFT transfer might take up to 2-7 business days depending on the destination country.
What is a SEPA transfer?
SEPA or Single Euro Payments Area is a payment method for making cross-border European bank transfers. The aim of SEPA is to make EUR transfers between the nations in the European Union and EEA easier and faster. With Payhof, the SEPA transfers usually takes no longer than 1-2 business days. SEPA includes: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, and Vatican City.
Is my personal data safe with Payhof?
As Payhof is registered under the Data Protection Act, our internal procedures and systems are designed to comply with the data security regulations. Hence, we can assure you that the shared information and documents are completely safe with us. To read more about our data protection, please check our
Terms of Use and
Privacy Policy.
What is EEA and what countries belong to it?
EEA stands for European Economic area and is an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association. The members of EEA are EU countries, Iceland, Liechtenstein and Norway.
Which countries are members of the Hague Convention?
Members include: Albania, Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, India, Ireland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Malta, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Turkey, Ukraine, United Kingdom, United States, and others.
How to avoid fraud?
Payhof considers your safety one of the top priorities. However, please keep in mind the following steps to ensure the security of your information yourself.
1) Protect your personal information: there might be fraudsters that pretend to be from Payhof, asking for you to verify your personal information via email. Please make sure to double check if the details present on the email are valid and actually belong to us (email address, contacts, what subject on the email is used, who is writing you an email, etc.). Be especially suspicious if someone is asking for information that Payhof already has. If you suspect fraudulent activity from someone using our name, please contact us immediately via info@payhof.com. Please keep in mind that we will never ask for information that could compromise your account.
2) Create a strong password for your account: please consider creating a password that is at least 12-14 characters long and includes a mix numbers, capital/lower-case letters and symbols. Try staying away from obvious dictionary words and combinations of dictionary words. Try using passphrases (a line from a book or a song, for instance) instead of passwords, as they are easier to remember and more difficult to guess.
3) Sign out from public devices: If you're logging into our website in a public place (library, office, friend's house, etc.) do not forget to logout when you're done.
4) Reporting suspicious activity: If you think that your account has been compromised, please reach out to us immediately via info@payhof.com. If you have given your login information to somebody or use the same password for several accounts, please change it.
How long does it take to open an account at Payhof?
There is no exact time frame for a corporate account activation. As soon as we receive your completed Payhof application, our compliance team will review the information and documents provided. The account approval depends on the ability to agree upon the service technicalities and the relevancy of the documents and the information provided.
How do I change my password?
Just press the 'Forgot Password' button on the log in page put your registered email address and you will be sent a reset link. Please make sure to choose a secure password by putting a minimum of 8 characters including at least one lower case and an upper case letters, one digit and one of these special characters: !@#$%^&*_
How do I change my phone number or email?
Please send your inquiry to support@payhof.com from your registered email address and we will do the rest.
How can I access my account?
To log in, click the 'Sign In' button at the top right corner of our homepage. Enter your registered email address and password, then confirm your identity using the One-Time Password (OTP) sent via SMS or generated by Google Authenticator.
Where can I check my account balance?
Your account balance is visible in the 'Account' section. If you have multiple accounts, you can view their balances by clicking the arrows in the Total Balance window next to each account name.
How do I add users to my business account?
Corporate clients can add sub-users to their business profiles, allowing employees or managers to access the account. To add a sub-user:
1. Go to Settings in your account.
2. Click on Company Users.
3. Add a new user by filling in the required details.
4. Choose the permission level for the sub-user to control what they can access:
• View: Can only view reports.
• Edit: Can edit data, such as recipients.
• Sub Admin: Can do everything except managing sub-users and changing company details.
• Admin: Has full access to everything.
Once set up, the new user can log into the business account with their own email and password.
Can I open additional accounts?
Yes, you can open sub-accounts to manage funds separately—for purposes like savings or salaries. To create an additional account:
1. Go to the Account page after you log into your Payhof account.
2. Click on New Account in the Total Balance section.
3. Fill in the required information and submit it for approval.
Our team will contact you to confirm which sub-accounts should be activated and review the applicable pricing
What should I do if I'm not receiving the OTP message?
If you haven't received an OTP, verify that your phone number is correct. If the issue persists, contact us at support@payhof.com with detailed information for further assistance.
My account is blocked. What should I do?
Multiple incorrect login attempts can temporarily lock your account for 30 minutes. If you need immediate assistance, please contact us at support@payhof.com.
How can I close my account?
Individual clients: Send a closure request to support@payhof.com from your registered email address.
Business clients: Provide an official letter signed by the company's director, stating the reason for account closure, and send it to support@payhof.com.
Why is my account closed?
You should have received a notification explaining the reason for account closure. For more details, contact us at support@payhof.com. Please note that due to internal policies, we may not always be able to provide additional information.
Can I get an account confirmation letter?
Yes, please send a request to support@payhof.com. Please note that a fee may apply for this service, as per your account's pricing plan.
What is a multi-currency account?
A multi-currency account allows you to hold and manage funds in various currencies within a single account. This simplifies international transactions by enabling you to store, send, and receive funds in different currencies without the need for multiple accounts.
What is an IBAN account?
An IBAN account is a service that Payhof additionally provides to their individual and corporate accounts. We offer a designated IBAN for the customers to store and send the funds from. We can provide you with LT IBANs.
Which jurisdictions are accepted for account opening?
Corporate clients: Companies registered in countries not listed in Payhof's Prohibited Jurisdictions List are eligible.
Individual clients: Residents of the European Economic Area (EEA), including Switzerland, the United Kingdom, and Ukraine, are accepted
Prohibited Jurisdictions
The list of Prohibited Jurisdictions includes Afghanistan, American Samoa, Anguilla, Angola, Algeria, Azerbaijan, Bangladesh, Barbados, Belarus, Burkina Faso, Burundi, Cambodia, Cameroon, Central African Republic, Chad, Comoros, Congo, Cote d'Ivoire, Crimea, Croatia, Democratic Republic of Congo, DPRK (North Korea), Equatorial Guinea, Eritrea, Fiji, Guam, Guatemala, Guinea Bissau, Haiti, Honduras, Iran, Iraq, Jamaica, Kazakhstan, Kenya, Kyrgyzstan, Lebanon, Liberia, Libya, Laos, Madagascar, Mali, Monaco, Mozambique, Myanmar, Namibia, Nicaragua, Nigeria, Nepal, Palau, Panama, Philippines, Palestinian Territory, Paraguay, Pakistan, Russia, Samoa, Senegal, Somalia, South Africa, South Sudan, Sudan, Syria, Tajikistan, Tanzania, Trinidad and Tobago, Turkmenistan, Uganda, US Virgin Islands, Vanuatu, Venezuela, Vietnam, Yemen, Zimbabwe.
Prohibited Industries
Payhof does not provide services to companies related to the following industries:
• Unlicensed businesses, where the license is required by law.
• Non-fungible token (NFT).
• Collection of donations as a charity or non-profit organization, NGOs (unregulated, unregistered, and incorporated outside EU).
• Oil & Gas industries (extraction, distribution).
• Activities related to the sale of hazardous goods.
• Replicas.
• Adult services - this includes, but is not limited to, pornography and nudity (webcam) streaming websites, escort).
• Customer engaging in alcohol and tobacco trade (including online sales).
• Weapons, firearms, and ammunition (production, distribution).
• Customers engaged in drug sales such as marijuana or other illegal substances.
• Religious Organizations and NPOs.
• Extractive industries such as the extraction of precious stones and minerals.
• Art and Antiques.
What documents are required during the Onboarding/KYC process?
There is a standard package of documentation that we always request once the Onboarding/KYC process is started. Additional documents may be requested based on your specific circumstances. For detailed information, please refer to our
Onboarding/KYC Guide.
Why is my personal information needed?
As a financial services provider operating under the license of Payswix UAB, we are required to collect personal information to comply with regulatory standards and ensure the security of all transactions.
Is it important to provide up-to-date information?
Yes, providing accurate and current information is crucial for a smooth onboarding process and ongoing account management. Inaccurate information may lead to delays or issues with your account.
What fees will be applied to my account?
Fees vary based on your account type and usage. For a detailed breakdown, you can check our pricing list.
My application was rejected. Can I receive an explanation or start a new registration?
If your application is rejected, we may not always be able to provide specific reasons due to internal policies. If a new registration is possible, our team will reach out to inform you.
What should I do if I entered incorrect details during registration?
If you've submitted incorrect information, please contact our support team at support@payhof.com and we will help you to amend them.
Can regulated entities receive funds from individuals?
This depends on the nature of your business and regulatory requirements. For specific inquiries, please reach out to our support team at support@payhof.com.
Can I exchange currencies through my Payhof account?
Yes. Once your account is activated, you can buy and sell foreign currencies directly within your account dashboard.
How can I exchange my currency?
To make a conversion, log into your account and click on 'Conversions' from the left menu on your dashboard, or go to the Account section and select 'Conversion.' Next, choose the 'Account from' and 'Account to' for the conversion, along with the 'Currency' and 'Amount.' Once you are ready, click 'Convert,' then press 'Confirm' to complete the conversion or 'Cancel' if you change your mind.
Why might exchange rates differ from other providers?
Exchange rates are based on real-time global market data and may vary depending on market conditions.
What currencies can I send?
The outgoing SWIFT payments are available in the following currencies:
• Major currencies: EUR, GBP, USD, CHF, AUD, SGD.
• Other currencies: CAD, BGN, NOK, DKK, HUF, BGN, CNH, NZD, CZK, XPF, HUF, ISK, JPY, MXP, XPF, RON, SBD, SEK, THB, TOP.TND, INR, HKD, PLN, JPY, BRL, CLP.
What currencies can I receive?
The incoming SWIFT payments are available in EUR, AUD, GBP, HKD, SGD, and USD.
Do you have a Payment Processing schedule?
The cut-off times for outgoing and incoming SEPA payments on business days are as follows:
• Outgoing: 6:45; 7:30 (Monday only); 8:50; 9:30; 12:00; 14:30; 16:30; 16:45.
• Incoming: 8:30; 9:45; 12:15; 13:15; 15:15; 17:15; 17:45.
Please note that business days exclude weekends and public holidays.
How do I initiate a transaction?
To start a transaction, go to your Account page and select 'Quick Transfer,' or click 'Transfer' from the left menu on your dashboard and choose 'Make a Transfer.' Then, pick a recipient from your saved list or add a new one. Enter the amount and currency and approve the transaction to complete it.
How can I view my transaction history?
You can view your most recent transaction in the 'Last Transactions' section of your Account page. For more details, click 'View Statement,' or select 'Statements' from the menu on the left side of the dashboard.
How long does it take to send funds?
The transfer completion time depends on the time zones and local banking hours.
• SEPA* payments (within the EU zone) are usually received within the same or the next business day.
• Transfers outside of the EU and EEA zone (SWIFT payments) might take up to 2-5 business days to be received by the beneficiary.
* SEPA is a payment system predominantly for euro transfers
How long does it take to receive the funds?
The transfer completion time depends on the time zones and local banking hours.
• SEPA* payments (within the EU zone) are usually credited within the same or the next business day.
• SWIFT transfers usually are credited within 2-5 business days.
* SEPA is a payment system predominantly for EUR (Euro) transfers.
How do we receive and send SWIFT payment?
Once you open a SEPA IBAN account, you instantly obtain access to initiate SWIFT transfers out of your SEPA IBAN account in any other of our additional currencies. If you want to receive SWIFT bank transfer, please contact us at support@payhof.com. We will send you an additional questionnaire, which needs to be filled in order to get access to SWIFT transfers facility. In case your request will be approved, we will provide you with a unique SWIFT number, which later should be used as a payment reference, when initiating SWIFT payments to your Payhof account.
Will I need to provide any additional documents to receive or send my payments?
As all of the transactions are subject to internal review, our compliance team might request additional information to verify such details as the source of funds, relationship and the reason for your transfer.
Are there any hidden charges?
There are no other charges apart from the usual fees shown in the pricing list, which you will also be able to see on the transaction initiation.
What sender information will my recipient see?
For SEPA payments, your name will appear as the sender. For SWIFT payments, the recipient may see Payswix UAB or our correspondent bank as the sender.
How do I add a recipient?
After logging into your account, go to the 'Recipients' page (found under 'Transfers' on the left menu on your dashboard). Click 'Add New' and fill in the recipient's personal and banking details. Once you've completed the form, save the information to create the recipient. Be sure to double-check the details to ensure your transactions go through smoothly.
I put the wrong beneficiary details; how do I change them?
If you have not yet initiated a transaction using the incorrect beneficiary details, please go to the 'Recipients' page (found under 'Transfers' on the left menu on your dashboard) and then edit the selected incorrect recipient.
If you have already initiated a transfer, please contact us at support@payhof.com and we will advise on further steps.
If I sent a payment by mistake, can I recall it?
Yes, we can initiate a recall request to the beneficiary's bank. If the beneficiary's bank agrees, the transaction will be returned and credited back to your account. If not, we recommend contacting the beneficiary directly. Please note that charges for recall messages apply according to the set pricing if the message is initiated by Payhof.
How do I cancel a transaction that I initiated?
Please contact us at support@payhof.com for assistance. Payments can be canceled within 24 hours after initiation or later if agreed upon by both parties. If the payment has already been processed, we can initiate a recall for the transaction.
What's the process for a refund?
If you notice a transaction in your account that needs to be refunded to the beneficiary, you can initiate the transfer back yourself or contact support@payhof.com for assistance. Please provide a reason for the refund.
Why did I receive an inquiry to agree with the refund to the sender?
If the sender made a mistake or has another reason, they might request a refund for a transaction you received. If the funds have already been credited to your account and Payhof receives a request from the sender's bank, we will ask if you agree to the refund. If you agree, we will cancel the transaction and return the funds to the sender. If not, no action is needed on your part, and Payhof will not process the refund.
I did not receive the funds into my IBAN; What do I do?
To locate the funds, we require proof of payment. Ensure all necessary transfer details are present and send the document to support@payhof.com.
The recipient has not received the funds yet; What do I do?
To assist the recipient in locating the funds, please contact us at support@payhof.com, and we will provide you with proof of payment. If the payment is not located, we will initiate a tracer.
How do I start a tracer for the funds?
If the proof of payment did not help locate the funds, please get in touch with us again via support@payhof.com, and we will start an investigation with the beneficiary bank from our side.
Why was my transaction cancelled?
If a payment was canceled and you're unsure why, please reach out to us with support@payhof.com — we'll check and inform you of the reason.
Why was my transaction returned?
If you can see that your transaction was returned, the reason for the refund is always indicated in transaction reference\note. The most frequent reasons for the returned transactions are the following:
AC01 - Incorrect account number
AC04 - Closed account number
AC06 - Blocked account
MS02/MS03 - Not specified reasons by the sender
RR01 - Missing debtor account or identification
RR02 - Missing debtor name or address
RR03 - Missing creditor name or address
RR04 - Regulatory reasons
If the reason code that you see in the reference field does not match with any of the above-mentioned, or if you have any additional questions, please contact us at support@payhof.com.
Why was my SWIFT payment not received?
When a SWIFT transfer involves multiple banks, delays can occur at intermediary institutions for various reasons — from incomplete or incorrect details to compliance checks. If the transaction is taking longer than expected to arrive, please note that only the sending bank has the ability to properly trace the payment. To locate the transfer or request a recall if needed, we recommend contacting the sender and their bank directly.
Are there any additional bank charges apart from the ones from Payhof?
Yes, it's possible that additional fees may be applied by intermediary or recipient banks, which could be deducted from the transfer amount. These charges are outside of Payhof's control and depend on the banks involved in the transaction chain.
What is considered an internal transfer?
An internal transfer refers to a transaction made between two clients who both hold accounts with Payhof. These transfers are processed instantly and free of charge.
What is a batch payment?
A batch payment allows you to initiate multiple transfers at once with a single action. To use this feature, you simply need to complete a CSV file and upload it through the 'Transfers' section on your dashboard by selecting 'Batch transfer'. If you'd like to use batch payments, please reach out to support@payhof.com to request the required template.
Can I make a cash deposit into my Payhof account?
No, cash deposits are not supported. Payhof does not accept any form of cash funding.
