Opay vs Bank Zero.
Opay (O58/100) and Bank Zero (B50/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Opay leads Bank Zero 6-0.
| B Bank Zero №75 · SARB 50 /100 | O Opay №54 · CBN 58 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 50 /100 | 58 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 2.00% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Payment inst. SARB | E-money inst. CBN |
| Deposit guarantee Per depositor | Safeguarded ZA.CODI | 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 | — | 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 Bank Zero if…
South Africa's first fully-digital mutual bank — SARB-licensed since 2018, operationally live since 2021. Founded by ex-FNB executives (Yatin Narsai, Michael Jordaan). Owner-operator model: no shareholders, profits flow back to depositors via lower fees and competitive sub-account interest. The fee-free counterpart to Discovery Bank's premium tier-based model.
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 1 of 4
- Best for protection Opay won 1 of 2
- Best for reach Opay won 2 of 3
- Best for ux Opay won 1 of 2
Opay vs Bank Zero — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Bank Zero better than Opay?
Under our v3 methodology, Opay leads Bank Zero 6–0 across 12 dimensions. Composite scores: Bank Zero 50/100 vs Opay 58/100. Opay is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Bank Zero or Opay cheaper?
Monthly fee — Bank Zero: €0; Opay: €0. Card FX markup — Bank Zero: 2.00%; Opay: Interbank. Opay wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Bank Zero or Opay?
Bank Zero holds a Payment inst. licence under SARB; deposit guarantee per depositor: Safeguarded. Opay holds a E-money inst. licence under CBN; deposit guarantee per depositor: Safeguarded. Opay is the stronger pick on regulatory protection.
Where can I use Bank Zero and Opay?
Bank Zero 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.