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Openpayd Funding Provider

Last updated: 23 ліпеня 2026 г.

Check to ensure your bank does not use SWIFT credit transfers to send funds via the Openpayd funding method. Openpayd  is not part of SWIFT and the transfers will be returned.

Openpayd is one of Krak's funding providers that facilitates the processing of EUR transfers (via SEPA or SEPA-Instant) and GBP transfers (via Faster Payment Services). At this time, funding via Openpayd is available to clients with accounts registered outside the European Economic Area, USA, and the United Kingdom.

OpenPayd is a London-based banking-as-a-service platform that provides financial services for businesses such as Krak. This funding method enables us to assign personal bank account numbers to our clients in their own names for depositing/withdrawing funds to/from their Krak account with ease, improving their funding experience.

SEPA Instant will only work if your bank also supports SCT Instant transfer. Please contact your bank for more information.

To use Openpayd funding ensure you meet all the requirements listed below:

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    Your Krak account must be verified. 

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    Your bank or financial institution must be located in the United Kingdom or Gibraltar (GBP funding only). 

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    Your Krak account is registered outside of the USA/UK/EEA.

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    Your bank or financial institution must be located in the SEPA region (Euro funding only). 

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    Your bank account must be registered under the same legal name as your Krak account.

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    Depending on your chosen funding method, your bank (or financial institution) has to be able to send & receive FPS, SEPA or SEPA Instant transfers.

Faster Payments Service (FPS)

FPS is a UK banking initiative to reduce payment times. It is focused on smaller payments and is subject to limits that depend on the individual banks. Transfer time, while expected to be short, is not guaranteed and will depend on the payment institutions and banks involved.

To find out which sort codes are able to receive Faster Payments, please input the details on this page: http://www.fasterpayments.org.uk/sort-code-checker

Single Euro Payments Area (SEPA):

SEPA is a payment-integration initiative of the European Union and is used for sending cross-border Euro deposits and withdrawals between banks that are part of the SEPA network.

SCT Instant:

SEPA Instant Credit Transfer (SCT Inst) was first launched in November 2017 across the EU as an optional Payment scheme for banks to participate in. If your bank supports SCT Inst, you can send funds to and from your Krak account within minutes.

These types of payments incur banking charges, so please contact your bank to enquire about fees, as well as their cut-off times. The current maximum limit for SCT Inst is €100,000.00 per transaction. This is a limit set by the SCT Instant network and is outside of Krak's control.

For step-by-step instructions, see: how to deposit to your Krak account and how to withdraw to your bank account.

Please see our articles on deposit and withdrawal options for additional information on funding providers, fees, minimums and processing times.

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