PayrNet Limited
UK · London · FCA
PayrNet Limited is a BaaS Provider / EMI based in UK (London), regulated by FCA. The institution's BaaS program is currently under regulatory scrutiny, launched in 2018.
PayrNet Limited supports the following products and services: Payments, Cards, Accounts, Open Banking. The bank serves customers across UK.
Notable fintech partners include Plum, ANNA Money.
- Products Supported
- PaymentsCardsAccountsOpen Banking
- Geographies Served
- UK
- Charter / Regulator
- FCA
- API Standards
- REST API, Faster Payments, BACS
- Minimum Deal Size
- Not publicly disclosed
- Year Program Launched
- 2018
Plum, ANNA Money
WARNING: Lithuanian subsidiary licence revoked June 2023 for AML/CTF violations; UAB PayrNet entered bankruptcy Nov 2023 with €15.4M client fund discrepancy; UK FCA restricting entity from onboarding new agents without written consent.
WARNING: HIGH-RISK ENTITY. PayrNet suffered catastrophic regulatory failures — Lithuanian licence revoked and subsidiary bankrupt due to AML failures and client money mismanagement.
UK entity remains FCA-authorised but under severe restrictions. Parent Railsbank went into administration 2023 and was rescued.