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iSAP Wallet · Multi-currency

How to Open and Use a Sokin Account in iSAP Wallet

Updated 4 September 2026 · iSAP Exchange · 8 min read

The iSAP Wallet gives you direct access to a Sokin Open Banking account from within one platform. Whether you are an individual holding and sending funds across currencies, or a business managing international payments, the account sits inside the wallet rather than behind a separate login.

This guide covers what to prepare for verification, how to register, how to open the account, and how to use it once live. If you are looking for the stablecoin side of the wallet instead, see On-Ramp, Off-Ramp and Send Stablecoins.

Before you beginVerification is mandatory for everyone, individuals and businesses alike. Preparing your documents in advance is the single biggest factor in how quickly the account opens.

What is a Sokin account?

Sokin provides multi-currency account infrastructure built on Open Banking rails. Technically the account is a Global Receivable Account — not a traditional bank account, but a regulated financial account that lets you receive, hold, convert and send money internationally.

Balances in 26 currencies from one account, including AED, USD, EUR, GBP, AUD, CAD and JPY
Local account details in five markets — USD, EUR, GBP, CAD and AUD — so you can receive as if locally based
Payments to recipients in more than 170 countries across 70+ currencies
Wholesale FX rates with margins shown upfront, before each transaction
Batch payments of up to 5,000 transactions at once
Balance Boosts on GBP, EUR and USD balances

Because Sokin runs on Open Banking, transactions move bank-to-bank rather than across card networks, which lowers cost and shortens settlement. This complements the currency exchange and international remittance services already available through iSAP.

What this means in practice: once open, the account is embedded in the iSAP Wallet. There is no second platform to log into — balances, transfers and account details all live in the interface you already use.

Step 1: Complete KYC verification

Sokin is a regulated provider and carries out its own verification. What you need differs for individuals and businesses.

Individual consumers

You provide one document from each category during onboarding.

Proof of identity — choose one

Document	Requirements
Passport	Valid and government-issued. Provide the identification and signature page.
National ID card	Clear images of front and back.
Driving licence	Clear images of front and back.

Proof of address — choose one

Document	Requirements
Utility bill	Gas, water or electricity, issued within the last 6 months. Must show your name, address and the full statement.
Bank statement	Issued within the last 6 months by a regulated institution holding a banking licence. Must show transaction history, your name and address.
Driving licence	Front and back. Cannot serve as proof of identity and proof of address at the same time.

Document quality — the usual reason for rejection Colour images · all four corners visible · no reflections, watermarks or obstructions · taken in good light · proof of address must be an original image, not a photocopy or electronic version.

Online verification is typically processed within 30 minutes. Where documents cannot be verified automatically, Sokin's team reviews them manually, which can take up to 5 business days.

Merchants and businesses

Businesses go through a fuller process covering the company (KYB) and the individuals behind it. Once all documents are in, Sokin aims to have accounts ready to receive funds within 24 hours; complex structures take longer.

Mandatory

Certificate of Incorporation
Articles of Association, or local equivalent such as Bylaws or an Operating Agreement
Documents outlining the ownership structure of the business

Optional, but they speed things up considerably

Three months of bank statements
Business or trade licence
Memorandum of association
Company structure chart
Share register or share certificates
Authorised signatory list
Beneficial owner report
Source of wealth documentation for beneficial owners
Tax registration
Certificate of good standing

Directors and associates. Each nominated director receives an emailed link to complete biometric verification and upload their own identity and address documents, to the same standards as above.

Worth doingSubmit the optional documents at the outset. Incomplete submissions are the most common cause of delay, and every document provided upfront removes a follow-up request.

Step 2: Register in iSAP Wallet

A registered and verified iSAP Wallet account is a prerequisite. If you already use the wallet, skip to Step 3.

Go to isapexchange.com and open the iSAP Wallet section.
Select Register or Create Account.
Enter your full name, email address, mobile number and country of residence.
Create a secure password and confirm your account via the emailed verification link.
Log in and complete your profile verification.

Two separate processesYour iSAP Wallet registration and your Sokin verification are not the same thing. Both must be completed. The wallet registration establishes your account on the platform; the Sokin verification activates the Open Banking account within it.

Step 3: Open your Sokin account

This is done from the iSAP Exchange website, not from within the app.

Log in to your iSAP Wallet account at isapexchange.com.
Find the Open Sokin Account button in the Wallet or Banking section.
Click it to launch the Sokin onboarding flow.
Work through the steps: submit your KYC documents, add business information if applying as a merchant, and complete biometric verification if prompted.
Submit and await confirmation.

Once approved, the account is activated and automatically embedded in your iSAP Wallet. You can use it immediately, with no separate login.

Account type	Typical processing time
Individual consumer	Around 30 minutes for complete, good-quality submissions; up to 5 business days if manual review is needed
Merchant	Within 24 hours for complete submissions; longer for complex structures

Step 4: Using the account inside iSAP Wallet

The Sokin section of the wallet shows your currency wallets across the 26 supported currencies, your Balance Boost wallets for GBP, EUR and USD, and your local account details for USD, EUR, GBP, CAD and AUD.

Action	Details
Receive payments	Share your local account details to receive funds as if locally based in that market
Send payments	Transfer to recipients in 170+ countries across 70+ currencies
Convert currencies	FX within your account at wholesale rates, with costs shown upfront
Manage beneficiaries	Save external bank accounts or other Sokin account holders
Balance Boosts	Move idle GBP, EUR or USD balances into interest-earning wallets
Batch payments	Send up to 5,000 payments in one transaction
Transaction history	Full log of incoming and outgoing transactions

Sokin-to-Sokin transfers are processed instantly, at any time of day, with no transfer fee — useful where both parties in the iSAP ecosystem hold Sokin accounts. For businesses, the Open Banking model also reduces cost per transaction compared with card-network processing, which is worth weighing alongside our payment solutions and payroll solutions.

Security and compliance

Sokin operates under regulatory licences in the jurisdictions where it works. Client funds are safeguarded through segregation — kept separate from Sokin's own operational funds and held with tier-1 banking partners.

Bank-level encryption for all communications
Two-factor authentication for account access
Fraud detection and threat protection
Biometric verification during onboarding
Ongoing monitoring — Sokin may request updated documents at any point to meet anti-money-laundering obligations

Notify Sokin promptly of any change to your personal or business details. Failing to update information or respond to verification requests can lead to restricted access or withdrawal limits.

Frequently asked questions

Do I need a separate Sokin login?

No. Once your Sokin account is approved and embedded in the iSAP Wallet, you manage everything through your iSAP Wallet account. There is no separate Sokin login for day-to-day use.

Is a Sokin account a bank account?

Not in the traditional sense. A Sokin account is a Global Receivable Account, a regulated financial account that lets you hold, send and receive funds in multiple currencies. It provides local banking details in USD, EUR, GBP, CAD and AUD so you can receive international payments as if you were locally based in those markets.

Can I open a Sokin account as a sole trader or freelancer?

Individual consumer accounts are available for personal use. If you operate as a sole trader or freelancer with business payment needs, the merchant pathway may suit you better. Contact iSAP Exchange support for guidance on your situation.

How long does verification take?

Individual accounts are typically verified within 30 minutes once all documents are submitted correctly. If manual review is needed it can take up to 5 business days. Merchant accounts are usually ready to receive funds within 24 hours of a complete submission, though complex structures take longer.

Why was my document rejected?

The usual causes are images that are not in colour, a corner cut off, glare or reflections, poor lighting, or a photocopy or electronic version submitted where an original image is required. Proof of address in particular must be an original image.

What currencies can I hold?

Balances in 26 currencies, including AED, USD, EUR, GBP, CAD, AUD, JPY, SGD, HKD and INR. A full list is available on sokin.com.

Can I earn interest on my balance?

Sokin offers Balance Boosts on GBP, EUR and USD balances, accessible from the Sokin section of the iSAP Wallet. Rates are set by Sokin and can change; check the current rate in the wallet before relying on it.

What do businesses need that individuals do not?

A Certificate of Incorporation, Articles of Association or local equivalent, and documents outlining the ownership structure. Each nominated director also completes their own identity and address verification via an emailed link.

How much does a Sokin-to-Sokin transfer cost?

Payments between two Sokin account holders are processed instantly, at any time of day, with no transfer fee. This is useful where both parties in the iSAP ecosystem hold Sokin accounts.

Need help?

Preparation is what makes this quick: gather your documents first, register the wallet, then use the Sokin button on the website. For questions, contact office@isapexchange.com, see our general FAQ, or reach Sokin's support team directly.

About this guide The Sokin account is provided by Sokin, a separate regulated provider. iSAP Exchange is a technology platform and is not itself a bank or a licensed payment institution. Account features, supported currencies, processing times, fees and any interest arrangements including Balance Boost rates are set by Sokin, may change without notice, and vary by jurisdiction and account type. Figures in this guide are indicative and were accurate at the date shown. Nothing here is financial advice. Confirm current terms in the iSAP Wallet or with Sokin before relying on them.

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