--- title: "Optal Financial Limited · Authorised E-Money Institution (FCA) · United Kingdom | Elucidate" description: "Optal Financial Limited is authorised by FCA as an authorised e-money institution in the United Kingdom. Licence 900112. LEI 254900AVW6GDL38NUI64. Register status, licences, activities and ownership." url: https://elucidate.co/directory/optal-financial-limited-fd4e29882f25 --- 1. [Directory](https://elucidate.co/directory) 2. [United Kingdom](https://elucidate.co/directory/country/gb) 3. Optal Financial Limited United Kingdom · Payments & e-money # Optal Financial Limited Optal Financial Limited is a private limited company incorporated in England and Wales. The FCA authorises it as an electronic money institution under firm reference number 900112. It is wholly owned by Optal Limited, and its ultimate parent is WEX Inc., which is listed on the New York Stock Exchange. WEX acquired the Optal business on 15 December 2020. The firm issues virtual payment cards to business customers, mainly in the travel industry. It has an agreement to be the sole issuer of virtual cards to eNett International (Singapore) Pte Ltd, a fellow WEX company. Register status Licensed in the United Kingdom Authorised E-Money Institution · FCA Prudential licence [1 licence or registration ↓](https://elucidate.co/directory/optal-financial-limited-fd4e29882f25#licences) BIC **No BIC** LEI **[254900AVW6GDL38NUI64](https://search.gleif.org/#/record/254900AVW6GDL38NUI64)** [Licence no. **900112**](https://elucidate.co/directory/optal-financial-limited-fd4e29882f25#licences) [Group: Wex Inc.](https://elucidate.co/directory/group/T9M5IGROL1TL1G5OV478) ## Licences and registrations Held by Optal Financial Limited (LEI 254900AVW6GDL38NUI64). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026. | Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | [FCA Financial Services Register - E-Money Institutions](https://elucidate.co/directory/register/fca-emi) FCA | Authorised E-Money InstitutionE-Money / Stored Value Institution | 900112 | [United Kingdom](https://elucidate.co/directory/country/gb) | Active | 2018-03-07 | — | - Payment services - E-money / stored value | [Search the register ↗](https://register.fca.org.uk/s/) | - Each licence applies in the country of the regulator that granted it. - Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here. ## Swift network Swift’s ISO 9362 BIC directory Holds no BIC in Swift’s directory. Its LEI is not mapped to a BIC in the Swift and GLEIF BIC-to-LEI relationship file. ## Overview Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/optal-financial-limited-fd4e29882f25#overview-sources) Customers Not published Employees 5 headcount · This entity · 31 Dec 2024 · [annual report ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/filing-history/MzQ3OTk2MjM3NmFkaXF6a2N4/document?format=pdf&download=0) Ownership Group subsidiary 100% Optal Limited Firm type Other Trades as WEX - **Ownership:** Optal Limited (Companies House 05531282) owns 100% of the firm, and WEX Inc. is the ultimate controlling parent through WEX Australia Newco 2020 Pty Ltd. - **Direct parent:** Optal Limited, United Kingdom 100% - **Ultimate owner:** WEX Inc., United States - **Head office:** 4th Floor, East Building, 1 London Bridge, SE1 9BG London, United Kingdom (registered office: Eastcastle House, 27/28 Eastcastle Street, London, W1W 8DH, United Kingdom) - **Company register:** Companies House 08364883 - **Incorporated:** 17 Jan 2013 - **Former name:** Accomplish Financial Limited ### Online - **Websites & references:** [wexinc.com ↗](https://www.wexinc.com/) [wexinc.com/en-gb ↗](https://www.wexinc.com/en-gb/) WEX UK country site - **Official social accounts:** [LinkedIn ↗](https://www.linkedin.com/company/wexinc) · [X ↗](https://twitter.com/WEXIncNews) · [Facebook ↗](https://www.facebook.com/WEXNews) · [Instagram ↗](https://www.instagram.com/wexatwork/) · [YouTube ↗](https://www.youtube.com/channel/UCTFT1tF9rmwB4WCjSR1fXaA) Sources · 11 pages consulted 1. [find-and-update.company-information.service.gov.uk/company/08364883](https://find-and-update.company-information.service.gov.uk/company/08364883) 2. [find-and-update.company-information.service.gov.uk/company/08364883/officers](https://find-and-update.company-information.service.gov.uk/company/08364883/officers) 3. [find-and-update.company-information.service.gov.uk/company/08364883/persons-with-significant-control](https://find-and-update.company-information.service.gov.uk/company/08364883/persons-with-significant-control) 4. [find-and-update.company-information.service.gov.uk/company/08364883/filing-history](https://find-and-update.company-information.service.gov.uk/company/08364883/filing-history) 5. [find-and-update.company-information.service.gov.uk/company/08364883/filing-history/MzQ3OTk2MjM3NmFkaXF6a2N4/document?format=pdf&download=0](https://find-and-update.company-information.service.gov.uk/company/08364883/filing-history/MzQ3OTk2MjM3NmFkaXF6a2N4/document?format=pdf&download=0) 6. [wexinc.com/regulatory-information/wex-group-regulated-entities/](https://www.wexinc.com/regulatory-information/wex-group-regulated-entities/) 7. [wexinc.com/regulatory-information/optal-modern-slavery-statement-2021/](https://www.wexinc.com/regulatory-information/optal-modern-slavery-statement-2021/) 8. [wexinc.com/en-gb/](https://www.wexinc.com/en-gb/) 9. [wexinc.com/en-gb/business-payments/virtual-cards/](https://www.wexinc.com/en-gb/business-payments/virtual-cards/) 10. [linkedin.com/company/optal](https://www.linkedin.com/company/optal) 11. [centralbank.ie/news/article/optal-financial-europe-(clone)---central-bank-of-ireland-issues-warning-on-u](https://www.centralbank.ie/news/article/optal-financial-europe-\(clone\)---central-bank-of-ireland-issues-warning-on-unauthorised-firm) ## Authorisation Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/optal-financial-limited-fd4e29882f25#overview-sources) - **Operates under:** Its own licences The FCA authorises the firm as an electronic money institution under firm reference number 900112. WEX's Irish sister company, Optal Financial Europe Limited, holds a separate Central Bank of Ireland e-money licence. | Authority | Licence or registration | Number | Held | Status | Source | | --- | --- | --- | --- | --- | --- | | Financial Conduct Authority United Kingdom | Authorised Electronic Money Institution | 900112 | In its own name | Active | [register.fca.org.uk ↗](https://register.fca.org.uk/s/firm?id=001b000000m4IXRAA2) | Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks. ## Partners and safeguarding Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/optal-financial-limited-fd4e29882f25#overview-sources) - **Safeguarding:** Segregated safeguarding accountsAccording to its 2024 accounts, the firm holds client funds in client money accounts and escrow accounts, which it cannot use for its own purposes. [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/filing-history/MzQ3OTk2MjM3NmFkaXF6a2N4/document?format=pdf&download=0) - **Payment schemes and card networks:** Mastercard Direct [linkedin.com ↗](https://www.linkedin.com/company/optal) Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices. ## Products and markets Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/optal-financial-limited-fd4e29882f25#overview-sources) - Prepaid cards - Lending It issues single-use virtual cards for business-to-business payments, mainly to travel businesses. Some cards are pre-funded by the customer and others are funded by a credit line from the firm. The firm operates from the United Kingdom under its FCA authorisation and describes its customers as businesses around the world. - **Revenue:** GBP 70.2mThis entity · 31 Dec 2024 · [annual report ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/filing-history/MzQ3OTk2MjM3NmFkaXF6a2N4/document?format=pdf&download=0) - **Payment volume:** EUR 3.13bnGross transactional volume This entity · 31 Dec 2024 · [regulatory filing ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/filing-history/MzQ3OTk2MjM3NmFkaXF6a2N4/document?format=pdf&download=0) - **Sells to:** Enterprises · Other - **Serves customers in:** United Kingdom ## Leadership Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/optal-financial-limited-fd4e29882f25#overview-sources) - **Executive:** Darragh Deady Director Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/officers) - **Executive:** Ann Elena Drew Director Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/officers) - **Executive:** Jason Anthony Hancock Director Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/officers) - **Executive:** Sara Terese Wickware Trickett Director Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/officers) ## Recent events Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/optal-financial-limited-fd4e29882f25#overview-sources) 1. Apr 2026 Leadership Steven Stuart Paddock stepped down as a director on 10 April 2026. [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/filing-history) 2. Jan 2025 Leadership The firm appointed Jason Hancock, Sara Trickett and Steven Paddock as directors. Hilary Rapkin, Carlos Carriedo and Michael Werry resigned. [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/filing-history) 3. Jan 2024 Other The firm changed its functional currency from EUR to GBP following the integration of Optal into WEX. [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/filing-history/MzQ3OTk2MjM3NmFkaXF6a2N4/document?format=pdf&download=0) 4. Jun 2023 Other The boards approved the formal integration of Optal into WEX, with new supply-chain flows effective from 1 January 2023. [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/filing-history/MzQ3OTk2MjM3NmFkaXF6a2N4/document?format=pdf&download=0) Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source. ## Identifiers - **Licence no. · FCA-EMI:** 900112 - **BIC:** Holds no BIC in Swift’s directory - **LEI:** [254900AVW6GDL38NUI64 ↗](https://search.gleif.org/#/record/254900AVW6GDL38NUI64) - **How the LEI was matched:** Matched by Elucidate on the UK company number the register gives - **Companies House no.:** [08364883 ↗](https://find-and-update.company-information.service.gov.uk/company/08364883) - **Elucidate firm ID:** fd4e29882f25 ## Profile - **Type:** Payments & e-money - **Regulation:** Prudential licence - **Main licence class:** E-Money / Stored Value Institution - **Activities:** - Payment services - E-money / stored value - **Licensed in:** [United Kingdom](https://elucidate.co/directory/country/gb) · Europe & Central Asia - **First registered:** 2018-03-07 - **Website:** [www.wexinc.com ↗](https://www.wexinc.com/) Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet. ## Ownership and group GLEIF relationship records - **Ultimate parent:** Wex Inc. · United States[T9M5IGROL1TL1G5OV478 ↗](https://search.gleif.org/#/record/T9M5IGROL1TL1G5OV478) The Wex Inc. group has 2 institutions in the directory, in 2 countries: none holds a BIC. Including [Optal Financial Europe Limited](https://elucidate.co/directory/optal-financial-europe-limited-2ea38c998d7f). [See the Wex Inc. group →](https://elucidate.co/directory/group/T9M5IGROL1TL1G5OV478) Group membership follows the accounting-consolidation relationships reported to GLEIF. It does not show ownership shares or control. ## Persons with significant control Companies House · company [08364883 ↗](https://find-and-update.company-information.service.gov.uk/company/08364883) · as at 9 October 2026 Companies House lists 1 person with significant control for Optal Financial Limited: 1 company. | Name | Type | Nature of control | Notified | | --- | --- | --- | --- | | [Optal Limited ↗](https://find-and-update.company-information.service.gov.uk/company/05531282) | Company · UK | 75–100% of shares · 75–100% of votes · Can appoint or remove directors | 6 April 2016 | | Wex Delaware Newco 2020 Llc | Company · United States · through Optal Limited | 75–100% of shares · 75–100% of votes · Can appoint or remove directors | 15 December 2020 | Companies report persons with significant control to Companies House. Elucidate has not verified them. A person with significant control holds more than 25% of the shares or votes, can appoint or remove the board, or has significant influence or control. Dates of birth and addresses are not shown. Matched on the Companies House number that the FCA register gives for this firm. [See the register at Companies House ↗](https://find-and-update.company-information.service.gov.uk/company/08364883/persons-with-significant-control) ## Addresses - **Address on the register:** 1 London Bridge, London, SE1 9BG - **Country:** United Kingdom ## ISO 20022 identification As an agent in a Swift cross-border payment message (CBPR+) This institution holds no BIC. A CBPR+ message identifies it by name and postal address, and may add its LEI or a clearing code. - **Identified by:** Name and postal address, with its LEI - **Postal address:** Hybrid: town, postcode and country in their own elements, the rest in one address line ```xml 254900AVW6GDL38NUI64 Optal Financial Limited SE1 9BG London GB 1 London Bridge ``` - The address line repeats the town or postcode. Remove the repeat if your payment system rejects it. CBPR+ identifies the instructing and instructed agents by BIC only. An institution without a BIC can be the debtor, creditor or an intermediary agent. The values are as published by the register. Check them against your own records before use. ## Related institutions ### Same group - [Optal Financial Europe Limited · trading as WEX No BIC Payments & e-money Prudential licence Ireland · Licensed by Central Bank of Ireland · C176000 (EBA-PSD2) · LEI 254900HL5541TJQUXK22](https://elucidate.co/directory/optal-financial-europe-limited-2ea38c998d7f) [All 2 institutions in the Wex Inc. group →](https://elucidate.co/directory/group/T9M5IGROL1TL1G5OV478) ### Other payments & e-money institutions in the United Kingdom - [Stonex Financial LTD BIC IGLUGB2L Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 446717 (FCA-PSD) · also on FINTRAC-MSB · LEI 549300AWF3TOHRYL7754](https://elucidate.co/directory/stonex-financial-ltd-iglugb2l) - [Dex International Limited · trading as DEXREMIT No BIC Payments & e-money Crypto Money service business Prudential licence United Kingdom · Licensed by FCA · 503929 (FCA-PSD) · also on HMRC-MLR, FINTRAC-MSB · LEI 9845003995D06S994R04](https://elucidate.co/directory/dex-international-limited-ff2b0c01c725) - [Euronet Payment Services Ltd · trading as Ria Money Transfer, Ria No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 504630 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/euronet-payment-services-ltd-6f4dec33a392) - [Instinet Europe Limited BIC ISNTGB2L Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 140822 (FCA-PSD) · LEI 213800MXAKR2LA1VBM44](https://elucidate.co/directory/instinet-europe-limited-isntgb2l) - [Isx Financial UK LTD BIC ISFIGB22 Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 901034 (FCA-EMI) · LEI 2138007BDV9IRS8AYD07](https://elucidate.co/directory/isx-financial-uk-ltd-isfigb22) - [Western Union Payment Services GB Limited · trading as Manning House, WU No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 816890 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/western-union-payment-services-gb-limited-0741de977896) - [A to Z 4U Ltd · trading as SAAK REMIT, Saakpay No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 570837 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/a-to-z-4u-ltd-25c2ca0fa3b5) - [Allied Wallet Limited No BIC Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 900124 (FCA-EMI) · also on FCA-PSD · LEI 213800HO66BDXP716G24](https://elucidate.co/directory/allied-wallet-limited-8983cc2e32eb) [See all →](https://elucidate.co/directory/search?type=payments&cc=GB) [Other entries on FCA-EMI →](https://elucidate.co/directory/register/fca-emi) Sources & method Register entries come from the public registers of financial regulators, standardised into one taxonomy. LEIs are matched through GLEIF, and a BIC is linked only through a shared LEI. An institution missing from these registers is not necessarily unregulated. Register entries are not matched against the OFAC or EU sanctions lists. Where the legal entity also holds a BIC, the matches for that BIC are on its page. Always screen against the official lists. An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page. [Read the methodology →](https://elucidate.co/directory/methodology) Register for this page - **FCA Financial Services Register - E-Money Institutions**—Financial Conduct Authority (FCA) · [source ↗](https://register.fca.org.uk/s/) as at 25 September 2026 - **Ownership and group**—GLEIF Level 2 relationship records (accounting consolidation), matched by LEI. - **Persons with significant control**—Companies House · [source ↗](https://download.companieshouse.gov.uk/en_pscdata.html) as at 9 October 2026 - **Overview, authorisation, partners, products, leadership and events**—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source. ## Assess the financial crime risk behind a licence A licence records what an institution is authorised to do; it does not assess it. The [Elucidate FinCrime Index (EFI)](https://elucidate.co/ratings) is an independent score of the financial crime risk of banks and payment institutions. [Book a demo](https://elucidate.co/demo-request) Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.