Opay — review & details

In Bank accounts · By the Rateweb editorial team · How we rate · Details checked 18 Jul 2026

Nigeria's most-used fintech app — free bank transfers, a nationwide agent cash-in/out network and instant onboarding. Upgraded to a CBN national licence in Jan 2026; deposits NDIC-insured.

Best for free transfers

Opay

Nigeria's most-used fintech app — free bank transfers, a nationwide agent cash-in/out network and instant onboarding. Upgraded to a CBN national licence in Jan 2026; deposits NDIC-insured.
★★★★☆
4.3/5 · How we rate
None
Monthly Fee
Free (fair-use limits apply)
Transfers
CBN national licence (Jan 2026)
Licence
NDIC-insured
Deposit Safety
Free transfers + agent cash-out
Best For
digital
Type
Pros
  • Free transfers and a huge agent cash-in/out network
  • Instant onboarding with BVN/NIN; works on any phone
  • CBN national licence (upgraded Jan 2026)
Cons
  • A wallet/app, not a full-service branch bank
  • Can see downtime at peak times
  • Support is app-based only
Fees, eligibility & documents
Fees
Monthly maintenanceNone
TransfersFree (fair-use limits)
Statutory levy₦50 EMTL on inflows of ₦10,000+
Eligibility
  • 18+ (limits apply by KYC tier)
  • Valid Nigerian ID
  • BVN and/or NIN
Documents needed
  • Valid ID (NIN, passport, driver's licence or voter's card)
  • BVN
  • Proof of address (utility bill) for a full-tier account
Visit Opay
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How Opay compares in bank accounts

Opay scores 4.3/5 in our bank accounts rankings. It's our current top pick in this category. Always compare a few before you decide — see the full bank accounts comparison.

Opay
4.3/5 · this page
 Kuda
4.2/5
 Moniepoint
4.2/5
Monthly Fee None None None on personal
Transfers Free (fair-use limits apply) Free monthly allowance, then a small fee Low flat fee; reliable at scale
Licence CBN national licence (Jan 2026) CBN microfinance bank CBN national licence (MFB, 2026)
Deposit Safety NDIC-insured NDIC-insured (to ₦2m, MFB) NDIC-insured
Best For Free transfers + agent cash-out App-first budgeting Small business + POS/agents
Visit Opay → Visit Kuda → Visit Moniepoint →

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Details last checked: July 2026

Ratings are Rateweb's editorial opinion. Product details are checked periodically but can change — confirm current terms with the provider before acting. We may earn a commission from some links, at no cost to you.