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PayCenter review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

PayCenter is an e-money account for businesses and travellers who want conversion at no charge and a local IBAN for everyday payments. Monthly fees run €0 to €5, SEPA transfers cost 0.60 EUR per outgoing transfer (SEPA), and the account opens without a credit check (no credit check), with a site score of 5.5.

Key facts

Best for
Free currency conversion with a local IBAN for business and travel money.
Monthly fee
€0 to €5↗
Licence type
E money↗
Deposit protection
EU DGS up to EUR 100,000↗
Currency conversion fee
0%↗
Local account details
IBAN↗
Free ATM withdrawals
€0↗
Transfer fee
0.60 EUR per outgoing transfer (SEPA)↗
Legal entity
PayCenter GmbH↗
Headquarters
Germany↗
Support channels
Phone, Email, Help-centre, Community↗
Audience
Business, Travelers
Pricing model
Low FX fees
Features
No credit check
Official website
paycenter.de

Facts checked September 26, 2026, 6 sources

Apps and profiles

Elsewhere
Wikidatafacebook.com

Pros and cons

Pros

  • Currency conversion is free: the conversion fee is 0%.
  • Deposits are covered by the EU deposit guarantee scheme, per EU DGS up to EUR 100,000.
  • No credit check is needed to open, as the account lists no credit check.
  • Help is easy to reach, since support runs on phone, email and help centre.

Cons

  • The monthly fee is not free on every plan: it runs €0 to €5.
  • Sending money out is not free, as each outgoing SEPA transfer costs 0.60 EUR per outgoing transfer (SEPA).
  • It is an e-money institution, not a bank, with the licence type e money.
PayCenter

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Scored 9.1 / 10 by VaultCue.

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Who it suits

  • Businesses paid in euros that spend abroad, since conversion costs 0%.
  • Travellers who want a local IBAN (iban) and a free cash withdrawal allowance of €0.
  • Applicants without a credit history, as the account lists no credit check.

Who should look elsewhere

  • People who want one guaranteed flat monthly fee: XTB charges €0, while the PayCenter fee runs €0 to €5.
  • Anyone shopping for a card rather than an account can compare AXI Card, whose monthly fee is €0.
  • Readers who want a provider other than an e-money licence (e money) can weigh Skrill, whose monthly fee is €0.

The company behind it

PayCenter is run by PayCenter GmbH, based in Germany. Its German authorisation is listed as PSD_EMI DE_BAFIN!125314, with BaFin as the regulator. Customers are served through phone, email and help centre, so phone and email sit alongside a help centre and a community board.

How PayCenter compares

Where PayCenter is available

Available
Germany
Licence in Germany
Bundesanstalt fuer Finanzdienstleistungsaufsicht (BaFin), checked September 26, 2026
Licence in Germany
DE_BAFIN (PSD_EMI DE_BAFIN!125314), checked September 26, 2026, also valid in Austria, Germany, Italy

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

How much does PayCenter cost to run?+

Monthly fees run €0 to €5, depending on the plan you pick. Currency conversion is free, with a conversion fee of 0%, and that is what lifts the cost side of the account. Outgoing SEPA transfers are the other ongoing charge to budget for.

Is my money protected if PayCenter fails?+

Yes. Balances are covered by the EU deposit guarantee scheme, with the protection recorded as EU DGS up to EUR 100,000. The account is issued by PayCenter GmbH, which holds an e-money licence, so the scheme is the stated backstop for deposits held in the account.

Is PayCenter a bank?+

No, it is an e-money institution: the licence type is e money and the German authorisation is listed as PSD_EMI DE_BAFIN!125314, with BaFin as the regulator. The account still comes with local details, so you are paid in with an IBAN (iban).

Do I need a credit check to open the account?+

No credit check is part of the opening requirements: the account lists no credit check. That helps applicants who would not pass a standard credit screen, and the account is aimed at business and travelers who want quick access to an IBAN for everyday payments.

What does it cost to send money out?+

Each outgoing SEPA transfer is charged 0.60 EUR per outgoing transfer (SEPA), and that is the fee to plan for if you pay suppliers often. Currency conversion is separate and costs 0%, while the monthly plan fee runs €0 to €5. High-volume senders feel the transfer charge most.

How do I get help if something goes wrong?+

Support runs on phone, email and help centre. Phone and email sit next to a help centre and a community board, so a reader can pick the channel that fits the problem instead of relying on a single inbox. The same channels cover account and card questions.

Can I withdraw cash while abroad?+

Cash withdrawals abroad come with a free allowance of €0, so anything taken beyond that allowance is chargeable and overseas cash needs planning. The low conversion cost model (low fx) keeps holding and spending in other currencies cheap.

Sources

Compiled from 7 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Currencies.

PayCenter

PayCenter

Free currency conversion with a local IBAN for business and travel money.

9.1/10See alternatives