OpenPayd
OpenPayd
Data verified on unchanged since the sources
Worth it if you are a fintech or platform wanting to offer banking via API — multi-currency accounts, virtual IBANs, FX and payments — with dual FCA (UK) and MFSA (Malta) licensing.
Avoid it if you are an end consumer (this is B2B infrastructure) or want transparent upfront pricing: pricing is quote-based and not public.
OpenPayd is a London-based Banking-as-a-Service provider that delivers embeddable financial infrastructure via API: multi-currency accounts, virtual IBANs, domestic and international payments, FX, Open Banking and card acquiring. It lets businesses offer banking services to their own customers without building the infrastructure or handling regulatory compliance. It is an Electronic Money Institution authorised by the FCA in the UK and a financial institution authorised by the MFSA in Malta.
Data & conditions
| Service type | Stablecoin infrastructure |
|---|---|
| Pricing model | Custom quote |
| Fiat rails | SEPA, SEPA-Instant, SWIFT, FasterPayments |
| Custody model | qualified-custody |
| Customer type | Fintech, Enterprise, Platforms |
| Certifications | GDPR |
| Fund custody | Custodial (platform holds funds) |
| Supported countries | UK, EEA |
| Regulator | FCA (UK) |
| Segment | B2B |
| Funding / solidity | London-based Banking-as-a-Service provider · EMI authorised by the FCA (UK) · financial institution authorised by the MFSA (Malta) · network of international banking partners |
| MiCA / License status | FCA EMI (UK)MFSA Financial Institution (Malta) Electronic Money Institution authorised by the FCA (UK) and financial institution authorised by the MFSA (Malta) |
Strengths
- Dual regulatory authorisation (FCA EMI in the UK, MFSA in Malta)
- Full BaaS suite: accounts, virtual IBANs, FX, payments, Open Banking
- UK and European coverage with a banking-partner network
- No notable sovereignty advantage documented.
Weaknesses
- B2B product, not accessible to end consumers
- Quote-based pricing, not public
- Onboarding and compliance requirements typical of regulated infrastructure
- Custodial: the platform holds your funds and can freeze or lose them.
- Subject to regulation (Electronic Money Institution authorised by the FCA (UK) and financial institution authorised by the MFSA (Malta)): reporting to authorities and freezes on order.
Verdict
Score 4.0/5, very strong profile. In its favour: dual regulatory authorisation (FCA EMI in the UK, MFSA in Malta). The trade-off to weigh: b2B product, not accessible to end consumers.
On the Sovereignty lens the score is 0.5/5 (weak): the strength is fund control (0.5/5).
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
Reputation
What happened to people who used OpenPayd, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
No known incidentSearch across public sources: no known hack, withdrawal freeze or regulatory action as of the verification date.
verified on
Public reviews
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Trustpilot ↗
1.8/5
16 reviews
TrustScore 1.8/5 across 16 reviews (openpayd.com page read directly). Very small sample; many reviews are from third-party scam victims complaining about funds routed through OpenPayd accounts/IBANs, not direct B2B customers. Weak signal.
Weighted average across 1 public review platform (16 reviews in total), weighted by volume. This is not our rating: it is those platforms’ average.
FAQ
Can an individual open an account with OpenPayd?
No, OpenPayd provides Banking-as-a-Service infrastructure to businesses, which in turn offer services to their own end customers.
Is OpenPayd regulated?
Yes, it is an Electronic Money Institution authorised by the FCA in the UK and a financial institution authorised by the MFSA in Malta.
Sources
- Official service page FX · Pagamenti Data verified on Jul 17, 2026