Zempler Bank
 | |
| Zempler Bank | |
| Formerly | Cashplus Bank |
| Industry | Financial services |
| Founded | June 2005 |
| Founder | Rich Wagner |
| Headquarters | London, United Kingdom |
Area served | United Kingdom |
Key people | Dominic Wade (CEO), Mark Sismey-Durrant (Chair of Board), Adam McNichol (CFO) |
| Products | Current accounts, Debit card, Business account, Credit card |
| Services | Financial Services |
Number of employees | 300 |
| Website | www |
Zempler Bank, formerly known as Cashplus Bank is a British challenger bank headquartered in London. It provides digital business and personal current accounts in the United Kingdom, with a focus on micro-businesses, sole traders, freelancers and small and medium-sized enterprises (SMEs). It holds a full UK banking licence and is a participant in the Current Account Switch Service[1]. Founded in 2005 as a prepaid card operator Cashplus, it was granted a full UK banking licence in 2021 and rebrand as Zempler Bank in 2024[2][3]. In 2026 it was acquired by The Access Bank UK, the subsidiary of Nigeria's Access Bank, and now operates as an independent subsidiary[4][5].
History
The company was launched in the United Kingdom in 2005 as Cashplus, initially providing prepaid payment cards before shifting its focus towards small businesses and start-ups [6].
It applied for a banking licence in 2017 and was granted a full UK banking licence in 2021, at which point it began trading as Cashplus Bank[2].
In July 2024, the bank rebranded as Zempler Bank, retaining founder Rich Wagner as chief executive [3] [7].
Acquisition by The Access Bank UK
In February 2026, The Access Bank UK agreed to acquire a 100% shareholding in Zempler Bank [6]. The transition received regulatory approval from the Prudential Regulation Authority and the Financial Conduct Authority [8], and completed in 2026, after which Zempler began operating as an independant subsidiary of Access Bank UK [4] [5]. Reports valued the bank at around £80 million; commentators linked the lower valuation to pressure on UK SME lending [9] [8].
Products and Services
Business Banking
Zempler Bank offers business current accounts aimed at sole traders, freelancers, and SMEs, managed digitally and supplied with a Mastercard debit card. Accounts include tools for invoicing, digital receipt capture and cash flow tracking and can be connected to third-party accounting software including Xero, QuickBooks, and Sage through Open Banking[10]. The bank is one of the largest business current account providers covered by the Competition and Markets Authority's mandatory service-quality survey[11].
Personal banking and credit
The bank provides personal current accounts to personal customers across the UK, with features including an overdrafts facility. They also provide personal and business credit cards, subject to eligibility.
International payments
In April 2025, Zempler introduced an outbound international payments service for business customers through an integration with the Wise Platform, initially enabling transfers to USD accounts in the United States and EUR accounts in the SEPA region from within its app[12].
References
- ↑ "Banks & building societies".
- 1 2 Hinchliffe, Ruby (5 February 2021). "Cashplus lands full banking licence after 15 years as an emi".
- 1 2 Mucklejohn, Lars (11 March 2024). "Cashplus Bank to rebrand as Zempler this summer".
- 1 2 Rahman, Rizwan (6 March 2026). "CMS advises Access Bank on strategic acquisition of Zempler Bank".
- 1 2 "The Access Bank UK acquires Zempler Bank". 5 March 2026.
- 1 2 Emanuel-Burns, Cameron (16 February 2026). "SME-focused Zempler Bank set to be acquired by The Access Bank UK". Fintech Futures.
- ↑ Reynolds, John (12 March 2024). "Cashplus Bank rebrands to Zempler Bank". Tech EU.
- 1 2 Musat, Iulia (19 February 2026). "The Access Bank UK to acquire SME-focused Zempler Bank at reduced valuation". The Paypers.
- ↑ Norman, Samuel (12 February 2026). "UK fintech Zempler Bank snapped up for less than half previous valuation". CITY AM.
- ↑ "Business Banking for Micro-Businesses". Zempler Bank.
- ↑ "Business Banking Service Quality". Ipsos. 17 August 2026.
- ↑ Cernescu, Dragos (2 April 2025). "Zempler Bank introduces international payments with Wise". The Paypers.