Caxton utilises technology and automation in order to help bring business payments, expenses and currency accounts under one umbrella. It strongly focuses on foreign exchange and caters for international payments, payroll processing and expenses.
What is Caxton business?
Caxton is a business platform which combines domestic and international payments, expense management, prepaid business cards and currency accounts all in one place. It has 4 main solutions: supplier payments, payroll processing, expenses and risk management.
It also has a dedicated API which enables businesses to connect their own applications to their Caxton account for a secure and single point of access for several payment solutions.
How does Caxton business work?
You can create a business account with Caxton and take advantage of the following solutions:
Payments. You can use Caxton to pay local and global suppliers, send and receive international payments and automate mass payments.
Payroll processing. Caxton automates all your payroll payments and allows you to send up to 1,000 single or multiple currency payments in one file.
Expense management. This comes with an app to upload and categorise digital receipts and multi-currency prepaid cards where you can approve expenses, automatically top up balances or block cards instantly.
Risk management strategy. This service enables you to work with an expert to review your future foreign currency exposure and create a strategy to minimise the risk of foreign exchange market volatility.
Is Caxton suitable for your business?
If your business regularly deals with foreign exchange and needs to make global payments, then Caxton’s range of solutions could be suitable.
You can send and receive over 28 currencies as well as make local and overseas payments. It also has a range of hedging products including forward contracts, spot contracts and market orders. These can help to lock in favourable exchange rates in order to mitigate the risk of foreign currency fluctuations.
Is Caxton business safe?
Caxton is fully regulated in the UK under the Financial Conduct Authority (FCA) and has an electronic money licence.
It has over 600,000 customers and processes 8.6 million transactions per year.
Finally, if any of its prepaid cards are lost or stolen, you can block them instantly from the app.
Our verdict: Is this platform worth it?
Caxton has always specialised in foreign exchange and multi-currency services. So if you are looking for a business payments platform that can help make international payments cheaper and easy, Caxton could be a good fit.
Caxton’s pricing depends on which prepaid card you opt for between its sterling and multi-currency cards. You can book a demo through the site to learn more about the solutions and presumably the cost. The main feature that stands out about Caxton is its customer support and hands-on care, which could be a real advantage if you are dealing with multimillion-pound transactions.
Frequently asked questions
Yes, using its application programming interface (API) you can integrate your accounting system, such as Xero.
Caxton has a sterling account and a multi-currency account. Its sterling account has a monthly fee, but there are no fees for the account or platform. The multi-currency account doesn’t have a monthly fee but it does have charges for card payments and ATM withdrawals. Both cards/accounts have a 2.49% card FX conversion fee.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
Kate Steere is an editor at Finder, specialising in fintech, banking and cryptocurrency. She has previously written for The Motley Fool UK and Fitch Solutions, where she covered a wide range of personal finance topics and kept a close eye on market trends. Kate has a Bachelor of Arts in Modern History from the University of East Anglia. When not working, she can usually be found curled up with a good book or heading out for a run. See full bio
Kate's expertise
Kate has written 156 Finder guides across topics including:
By switching your business bank account, you may be able to reduce your monthly fees or take advantage of different features like smart bookkeeping tools.
Challenger bank Monzo now offers business banking. Check out what accounts it provides and whether they could be the right business banking solution for you.
Challenger Countingup draws accounting and business banking together in one account. Our review looks at how it works and what it costs.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
