Banked Alternatives in the UK: What to Choose and Why [2025 Guide]

If you’re exploring real-time bank payments, you’ve likely come across Banked — a UK-based provider known for its fast A2A checkout flows and card-free infrastructure. But while Banked is a strong option, it’s not always the best fit for every business.

You might need more flexible pricing, better UK bank coverage, faster onboarding, or additional tools like enriched financial data or branded payment flows.

That’s where looking at Banked alternatives in the UK makes sense.

In this guide, we’ve reviewed four standout providers that go beyond what Banked offers: Finexer, Volt, Bud, and Token.io. Each brings a unique approach to Open Banking — whether you’re scaling your platform, simplifying payouts, or replacing your card-based setup entirely.

Let’s break them down and find the one that fits your business best.

Finexer

Built for UK-Only Payments — Fast A2A, Clear Pricing, No Complexity

Finexer is an FCA-authorised Open Banking provider designed specifically for UK businesses that want to move faster, stay compliant, and avoid the friction of legacy payment setups. It supports real-time account-to-account (A2A) payments, instant refunds, and bulk transfers — without the fees, contracts, or integration overhead you’ll often find with larger platforms.

Where Banked focuses on checkout experiences, Finexer delivers more control and cost-efficiency, especially for platforms, SaaS businesses, and accounting firms operating within the UK.

What you get with Finexer:

• Full UK coverage – Connects to 99% of UK banks, including high street and challenger banks
• Faster go-live – Deploy in days with low-code tools or full API support
• Real-time payments – Instant A2A transfers with full tracking, no card networks involved
• Built-in bulk tools – Upload CSVs or trigger payouts via API for suppliers or internal workflows
• No setup fees or minimums – Transparent, usage-based pricing tailored for startups and lean teams

Why choose Finexer over Banked?
While Banked is checkout-first, Finexer was built for end-to-end payment control — from payouts to reconciliation. It’s a better fit for UK-based teams that want simple, fast payments with full compliance and no monthly lock-in. And with faster onboarding and sandbox testing included, you can try it risk-free before making the switch.

Volt

Real-Time Payments for Platforms Operating Across Regions

Volt is an Open Banking payment provider focused on delivering real-time account-to-account (A2A) payments across the UK and EU. It’s designed with payment orchestration in mind, helping businesses process and manage high-volume transactions through a single interface.

Volt is used by platforms, marketplaces, and fintechs that prioritise speed and control in payment routing — particularly when operating across multiple regions.

What you get with Volt:

• Real-time A2A transactions – Supports immediate fund transfers for pay-ins and pay-outs
• Multi-bank orchestration – Smart retry logic and routing across payment networks
• UK + EU coverage – Built for businesses operating in more than one region
• Merchant-focused tooling – Centralised monitoring, status updates, and reconciliation features
• Single API – Integrates pay-in, payout, and refund capabilities

What to consider:
Volt’s infrastructure is suited to businesses operating across borders or managing large-scale platform payouts. For teams with simpler UK-based needs, other options may offer a more focused setup.

Bud

Open Banking Data Insights with Optional A2A Payment Capability

Bud operates at the intersection of financial data enrichment and payments. While it does support account-to-account payment initiation, its core value lies in helping businesses understand user behaviour, verify income, and build personalised experiences using real-time financial data.

It’s a useful tool for organisations that want to combine payments with deeper financial context — particularly in sectors like lending, personal finance, or financial wellness platforms.

What you get with Bud:

• Data-rich APIs – Access categorised transaction data, income insights, and behavioural markers
• Optional payment initiation – Send A2A transfers through regulated Open Banking rails
• Verification tools – Supports income, affordability, and identity checks
• UK and EU coverage – Broad integration with banks for data and payments
• Custom data models – Tailored scoring, budgeting, or analysis workflows

What to consider:
Bud is not a pure-play payments platform. Its strength lies in financial insight rather than operational payment tools — which may suit data-focused platforms more than those prioritising speed or simplicity in payment processing.

Token.io

Flexible API Infrastructure for Pan-European Payment Flows

Token.io is a regulated Open Banking provider focused on helping businesses initiate A2A payments across both the UK and EU through a single API. It’s designed for platforms operating across multiple regions that want to unify their payment setup and reduce reliance on traditional PSPs.

While it does offer domestic support, Token.io is best suited for businesses with cross-border needs, where bank coverage breadth and payment standardisation matter most.

What you get with Token.io:

• One API, multiple markets – Initiate payments across UK and EU bank networks
• Payout and refund support – Enables end-to-end transaction management
• FCA-authorised and PSD2-compliant – Meets UK and EU regulatory requirements
• Built for PSPs and platforms – Infrastructure-focused rather than plug-and-play
• Developer-first design – Suited to teams building custom payment layers

What to consider:
Token.io’s strength lies in its multi-country flexibility, but for businesses focused solely on UK payment operations, its broader infrastructure may go beyond what’s needed.

Choosing the Right Banked Alternative

Every Open Banking provider brings something different to the table. Some focus on cross-border scalability. Others offer layered data insights or orchestration tools for high-volume platforms.

But for UK-based businesses — especially those that value fast setup, affordability, and complete control over how payments are sent and received — Finexer stands out as the most accessible and purpose-built alternative to Banked.

If you’re looking for a platform that gets you live quickly, connects to 99% of UK banks, and doesn’t lock you into high fees or complicated setups, Finexer might be exactly what you need.

Still comparing? Take a closer look at what matters most to your team — whether that’s reach, data, or simplicity — and find the provider that best supports your next phase of growth.