How to start your own bank-style app in the UK (without being a bank)
By SendPay Business · · 3 min read
- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
"Start your own bank" is one of the most searched phrases in UK fintech, and almost everyone who searches it means something more achievable than a bank: an app under their own name where their customers hold a balance, get a card, send money and pay by link. This guide explains what that is, what it is not, and how to launch one.
A bank-style app is not a bank, and that matters
A bank takes deposits and is authorised by the Prudential Regulation Authority and the Financial Conduct Authority. That takes years and tens of millions in capital. A bank-style app is different: the accounts, cards and payments are provided by regulated partners, and you put your brand, your users and your fees on top.
SendPay Business is a technology company, not a bank, and does not take deposits. Balances on the platforms built here are held with regulated partners and are not covered by the Financial Services Compensation Scheme. Being clear about that with your users is part of doing this properly.
What you can launch under your own brand
An everyday account with balances in pounds, euros and dollars, account details in the customer's own name, and a branded card. A money transfer app that sends abroad and shows the rate first. A payment-link product for invoices and subscriptions. A marketplace that pays its sellers. Each is a template in the builder, and each carries your name, your colours and your domain.
Try it
Name your platform and watch it come to life
Type a name, tap a colour and pick what it does. The phone changes as you go.
Colour
What it does
Design and preview your whole platform free, then launch when you are ready.
How the build works
Pick the template closest to your idea, type your platform name, choose your colours and preview the complete site before you launch. Confirm who you are with a quick ID check, launch from the builder, and the platform goes live on your own domain within 24 hours of confirmation.
0 of 5 done
Tick each step as you do it, so you can see what is left.
Permissions: the honest answer
If your platform holds customer money or moves it, you will usually need your own registration or authorisation in the UK: HMRC registration as a money service business for transfers, FCA cryptoasset registration for an exchange, and our card partner's approval for a card programme. We tell you which applies to your platform, in writing, before you launch, and we introduce you to specialists who handle the applications. We are not licensed advisers and do not guarantee any outcome.
What is free and what you keep
Designing and previewing a platform is free. Once it is live, the fees are yours to set: 1%, 2.9% or nothing. On £10,000 of payments at 2.9% your platform keeps £290. Your users sign up with you, not with us.
How it works
Money on its way- 1Pick who to pay and type the amount
- 2Tap send and it is on its way
- 3It lands in their account
Why sign up
Create your free SendPay account
It's all about creating your own financial platform with ease. Start with a free account today.
- 🪪A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
- 💳Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
- 🌐A free business websiteFree to build, free to publish and free to keep, with unlimited visits.
- 🚀Your own financial platformDesign and preview your whole platform free, then launch when you are ready.
SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
Which money app should I launch?
Answer a few questions and get a suggested platform type.
Which money app should I launch? →Can I really call it a bank?
No. "Bank" is a protected term in the UK. Call it an account, a platform or an app. Your users still get a balance, a card and account details in their own name.
How long does it take to launch?
The build takes minutes. The platform goes live within 24 hours of confirmation, and permissions, where needed, run on their own timetable.
Do I need my own company?
You can sign up from almost any country. To launch, your platform trades under a UK company: your own, or one we help you register.
What happens to my users' money if my platform stops?
Balances are held with the regulated partners, not with your platform or with SendPay Business, so a platform closing does not take its users' money with it. Your terms tell users who holds what.
How can SendPay Business help me start?
Pick a template, name it and preview every page before you launch. We tell you in writing which permissions apply, introduce the specialists who handle them, and put your platform live on your own domain within 24 hours of confirmation.
Build my platform →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.