OhentPay is one of the top fintechs available in the UK with lots of advantages.

They include quick and safe payments, competitive exchange rates and low fees, availability in over 190 countries, and a supportive customer support team, and very recently, multicurrency accounts. 

Whether you’re sending money locally or internationally, OhentPay helps you do it smoothly without stress. 

Still, when it comes to choosing a financial partner, whether a bank or fintech, people want to know how exactly it works. 

Are there account creation fees, maintenance fees, or hidden charges? If you’re considering opening an OhentPay account, one burning question you may have would be, “Is it free to open an account?”

Whether it is free to open an OhentPay account or not depends on the kind of account you want.

For instance, it is completely free to open a Free account, which is one of the available plans. But there are others. In the next section, we’ll look at the different types of OhentPay accounts and their opening fees. 

OhentPay account plans: Fees and features.

The three account plans (types) available on OhentPay are Free, Standard, and Plus. With these plans in place, you can choose which one meets your needs and fits your budget. You can pause and cancel anytime you want to. 

Free

This account doesn’t require any financial commitments to open. With £0 every month, you can have this account and carry out transactions with it. 

The features include:

• Maintaining one multi-currency balance: This means that you can receive payments in only one currency, although you are still allowed to hold, exchange, or send money in over fifty currencies. 
• Fee structure: While it costs nothing to open this account, you get charged £0.20 for local payments and £1.99 for cross-border payments. You don’t get free transactions in this plan, unlike the other two plans. You also get charged £25 for SWIFT payments. 
•  In-app support: In-app support is not prioritized in this plan. If you want that, you may need to move to either of the other two plans. However, you can also reach out to OhentPay customer support on official social media platforms or email. 

Standard

This plan requires a £3.99 monthly fee to keep. You’re able to do more with it than the free plan. Let’s look at the features:

• Maintaining five multi-currency balances: Remember the free plan where you had to manage receiving payment in just one currency? Well, it’s different here. In this standard plan, you receive payments in up to five different currencies, and of course, exchange, hold, and send payments in more than fifty currencies. This means that you enjoy more convenience with this plan.
• Fee structure: As expected, the fee structure is also different. Even though it is also £0.20 for local payments, you get ten free local payments every month. Similarly, while you also pay £1.99 for cross-border payments just like in the free plan, you enjoy three free cross-border payments here. As for SWIFT payments, you pay £20 as opposed to the £25 on the free plan.
• Priority in-app support: Unlike the free plan that doesn’t prioritize in-app support, you get solid in-app support on this plan. If you encounter any issues, have questions, or need help, you can ask for help right on the app and get it.

Plus

The last plan on the list, and the only one where you need to pay £9.99 every month to access. You enjoy the most perks here, since it is (presently) the highest account type on OhentPay. The features include:

• Maintaining seven multi-currency accounts: Now this is what you can call the “Boss Plan” because it has much more advantages than the first two. On this plan, you can receive payments in seven different currencies and hold, send, and exchange over five currencies. This beats the first two which were just one and five respectively.
• Fee structure: On this plan,you get twenty free local payments every month even with the £0.20 charge and  enjoy five free cross-border payments after which you’ll be charged £1.99. SWIFT payments on this plan come with a £15 charge.
• Priority in-app support: You also get great in-app support so that you don’t have to run helter skelter whenever you need help. Reach out on the app and you’ll be speedily attended to.

Note: All three plans– free, standard, and plus –also have features like direct debit, scheduled payments, and recurring payments.

Other features like payment links, rewards programs, and savings pots are currently not available but are coming soon.

Conclusion 

This article has broken down the three different account plans available on OhentPay to help you answer the question, “Is it free to open an OhentPay bank account.”

The answer is yes, but that’s only if you go with the free plan. For more features, you need either the standard or plus plans–it all depends on your needs and budget.

To get any of the plans, download the OhentPay app, sign up, set up your account, and get started immediately. It is fast, smooth, and the best thing you can do for yourself as someone who stays in the UK.