OpenPayd Pricing Guide [2025]: Real Costs of Using Open Banking APIs

All information in this article has been sourced from OpenPayd’s official website and related documentation, current as of May 2025. Pricing may be subject to change.

If your business relies on Open Banking for account verification, payment initiation, or customer data access, knowing what you’re paying for matters. Transaction costs can add up quickly, especially if you’re operating at scale or serving multiple client use cases.

OpenPayd is one of the better-known names offering Open Banking APIs for UK-regulated businesses. While its platform is often associated with embedded finance and virtual IBANs, this guide focuses specifically on the Open Banking layer. We’ll look at what services are included, how the pricing is structured, and what to expect as you begin integrating.

What Is OpenPayd?

OpenPayd provides a set of financial APIs that businesses can use to integrate banking and payment services directly into their products. While the platform also covers virtual accounts and multi-currency payments, its Open Banking services are particularly relevant for companies regulated as AISPs or PISPs in the UK and Europe.

Here’s what’s included under OpenPayd’s Open Banking offering:

• Account Information (AISP)
  Let your platform retrieve user-permissioned account balances and transaction history.
• Payment Initiation (PISP)
  Enables direct bank-to-bank payments from users without relying on cards.
• Bank Account Verification
  Confirms that account details like sort code and account number match the customer identity.

These tools are often used by platforms handling digital onboarding, account payouts, lending, and real-time data access for compliance or credit assessments. OpenPayd positions itself as a provider that handles both the infrastructure and regulatory complexity, allowing businesses to plug into Open Banking without taking on compliance risk directly.

How OpenPayd Charges for Open Banking APIs

OpenPayd provides custom pricing based on usage volume, API requirements, and onboarding needs. While rates are not listed on their public documentation, their model generally reflects industry-standard structures across similar platforms.

Below is a breakdown of the pricing components commonly included in proposals for Open Banking services:

API Access Charges

Businesses are typically charged for each successful API call related to account access, payment initiation, or account verification.

API Service	Description
Account Information	Per-request pricing applies when retrieving balances, account holder data, or transaction history
Payment Initiation	Fees apply per payment successfully initiated using the PISP API
Account Verification	Usually priced per lookup to confirm ownership of a UK bank account

Monthly Platform Access

Some clients are quoted a fixed monthly cost that covers access to OpenPayd’s live environment, usage reporting, developer tools, and ongoing platform support.

Service Area	Typical Coverage
Live API Usage	Access to production-grade Open Banking endpoints
Sandbox Testing	Use of non-live data environment for development and QA
Platform Dashboard	Usage tracking, permissions, and account controls
Technical Support	Developer assistance based on support tier selection

Onboarding & Configuration

There may be a one-time setup fee associated with onboarding, which can include issuing API credentials, verifying your regulatory status, and assisting with technical integration.

Transaction Types and Expected Fees

While OpenPayd’s pricing depends on the specific services you use, different types of transactions may carry different costs depending on volume, location, and processing method. For businesses planning to scale or manage multiple transaction types, this can have a meaningful impact on monthly costs.

Here’s a breakdown of common transaction types you may encounter when using OpenPayd’s Open Banking APIs:

Transaction Type	What It Involves	Potential Cost Factors
Domestic Payments	Bank-to-bank transfers within the UK using Open Banking rails	Volume tiering, success rate, response time
International Payments	Payments to or from non-UK banks (where supported)	Additional compliance checks, currency handling
Recurring Payments	Pre-approved transfers initiated at scheduled intervals	Frequency, user re-authentication, cancellation load
One-Time Payments	Single-use transfers with individual user consent	Per transaction API call
Data-Only Sessions	Account information access without a payment	Read-only API pricing, bank polling frequency

These categories are not charged equally. For example, retrieving account data every hour across 1,000 users may incur higher fees than initiating occasional payments. Similarly, international payment flows may include additional checks or FX markup when currency conversion is involved.

Is OpenPayd Cost-Efficient for Your Business?

Whether OpenPayd’s pricing model works for your business depends on what you’re building and how much control you want over banking infrastructure.

The platform is designed for regulated businesses that want Open Banking functionality delivered through a single provider. If you’re looking to combine account access, payment initiation, and bank account verification under one roof, OpenPayd offers a unified setup. This can simplify integration and vendor management—especially for teams with limited engineering resources.

However, OpenPayd’s custom pricing approach means that affordability is tied to usage. For businesses with low transaction volumes or minimal API usage, the cost may feel front-loaded due to monthly access fees and onboarding requirements. On the other hand, platforms processing frequent payouts, account checks, or bulk payment runs are more likely to make full use of the pricing model.

Before signing on, it’s important to map out:

• How many transactions you expect to process monthly
• Whether you’ll use OpenPayd for both AISP and PISP services
• What level of technical or compliance support you’ll need

If Open Banking is a core part of your product offering, OpenPayd may fit well into your long-term infrastructure. For more occasional usage or data-only needs, it may be worth assessing how the pricing aligns with expected API traffic.

Not Ready for Complex Commitments? Try Finexer Instead

If you’re exploring Open Banking APIs for account access, payment initiation, or verification but want a pricing model that adapts to your stage of growth, Finexer offers a simpler path forward.

Finexer supports regulated UK businesses with secure, developer-friendly APIs for both data and payments. Whether you’re just starting out or managing high-volume flows, pricing remains straightforward across every plan:

• Startup plan with discounted rates and full product access
• Standard plan for established businesses with consistent volume
• Enterprise plan built on usage-based pricing with no long-term lock-ins

Every plan includes:

• Unlimited sandbox access for testing and integration
• 2–3x faster deployment compared to traditional providers
• No setup fees, no hidden fees, and no cancellation fees
• White-label options, fully managed compliance, and dashboard access
• Consent management, webhook alerts, reporting tools, and user controls

From first integration to scaling live usage, Finexer gives you full access without forcing a large upfront commitment. Setup is quick, support is always included, and costs are built to grow with your needs.