Memo Bank vs Opay.
Memo Bank (M72/100) and Opay (O58/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. A close tie.
| M Memo Bank №31 · ACPR 72 /100 | O Opay №54 · CBN 58 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 72 /100 | 58 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €449 /mo | €0 Free tier |
| FX markup Debit card abroad | 0.50% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank ACPR | E-money inst. CBN |
| Deposit guarantee Per depositor | €100,000 EU.DGS.FR | Safeguarded NG.NDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 5 countries |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | Yes |
| UX | ||
| Trustpilot Customer score | 4.6 ★ 0k reviews | 1.5 ★ 5k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.5 · And 4.4 | 4.5 ★ iOS 4.4 · And 4.5 |
| Read review → | Read review → | |
Pick Memo Bank if…
The French mid-market SME bank that fills the structural gap between Qonto (freelancer-and-SME-led, ACPR credit institution) and chartered legacy banks (BNP Paribas Business, Société Générale Business). Full ACPR credit-institution licence with DGS protection. Mid-market SME tier (€1M-100M revenue) is the target audience; API-first treasury + Pennylane integration is the SMB-tech moat.
Pick Opay if…
Largest Nigerian mobile-money + neobank hybrid by user count (~50M+). Saudi Aramco-affiliated investor backed. OBank subsidiary holds the bank licence; OPay wallet sits on top. Aggressive cross-EM expansion (Egypt, Pakistan announced). The Nigerian mobile-money rail leader.
- Best for fees Opay won 2 of 4
- Best for protection Memo Bank won 2 of 2
- Best for reach Opay won 2 of 3
- Best for ux Memo Bank won 1 of 2
Memo Bank vs Opay — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Memo Bank better than Opay?
Memo Bank and Opay are tied 4–4 across 12 dimensions under our v3 methodology. Composite scores: Memo Bank 72/100 vs Opay 58/100. The right pick depends on which dimension you weight most heavily.
Is Memo Bank or Opay cheaper?
Monthly fee — Memo Bank: €449; Opay: €0. Card FX markup — Memo Bank: 0.50%; Opay: Interbank. Opay wins more fee rows (2 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Memo Bank or Opay?
Memo Bank holds a Full bank licence under ACPR; deposit guarantee per depositor: €100,000. Opay holds a E-money inst. licence under CBN; deposit guarantee per depositor: Safeguarded. Memo Bank is the stronger pick on regulatory protection.
Where can I use Memo Bank and Opay?
Memo Bank operates in 1 country; Opay operates in 5 countries. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.