PayPay AO review

The monthly fee is €0 and the account runs on the no monthly fee model, so nothing is taken every month. The transfer fee still applies per transaction on VISA and Mastercard, MB WAY and Multibanco payments, with costs subject to VAT.

Deposits sit under EU DGS up to EUR 100,000, so the balance is covered by the EU deposit guarantee scheme up to the stated limit. The account is issued by PAYPAYUE - Instituição de Pagamentos, Unipessoal, Lda., a Portuguese company, and it operates as a payment institution account.

Banco de Portugal supervises the firm in Portugal and authorised it as a payment institution under reference 8710. The official register records the same authorisation as PSD_PI PSD_PI!PT_BP!8710, so the licence sits with a Portuguese supervisor rather than being self-declared.

The account is aimed at business users, so it is set up for trading activity rather than personal banking. Support runs on phone, email and help centre, and the payment methods listed are Portuguese ones, which suits companies operating in that market.

Support runs on phone, email and help centre, so help comes by phone, by email and through the help centre. A phone line matters for a business that needs a blocked payment or transfer resolved quickly, and the account stays online rather than branch based.

The account is digital only, so everything runs through the app rather than a counter, and cash handling in person is not part of the service. Support by phone, email and the help centre is the way to sort problems.

The issuer is PAYPAYUE - Instituição de Pagamentos, Unipessoal, Lda., registered in Portugal, and it runs as a payment institution under Portuguese supervision. The payment methods listed are MB WAY and Multibanco alongside card, which points to a service built for the Portuguese market.

Its monthly fee of €0 places it at position 1 in a ranking of 500 brands compared on monthly fee, and the median monthly fee across the site is €0. The overall score is 6.3.