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APIs · head to head

Griffin vs Token.io

Griffin logo

Griffin

APIs

UK banking-as-a-service from a company that holds its own full banking licence

From
£100/month
Rated
-
Full reviewWebsite
Token.io logo

Token.io

APIs

Account to account pay by bank infrastructure across the UK and Europe

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Griffin platform banking carries a one-off onboarding fee from 15,000 pounds and a 3,500 pound monthly minimum, which prices out early-stage companies entirely.; Token.io account to account payments carry no chargeback scheme, so merchants gain cost savings but consumers lose the dispute protection cards provide, which limits adoption in general retail.
  • They diverge on capability: Griffin covers Bank accounts by API, Token.io covers Payment initiation.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Griffin and Token.io actually diverge.

Attributes where Griffin and Token.io differ
AttributeGriffinToken.io
Starting price£100/monthOn request
Pricing modelPer month with usage drawdownquote
PlatformsWeb, REST APIWeb, API

Identical on both: free tier (No), user rating (Not yet rated), category (APIs).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Griffin

  • Bank accounts by API
  • UK payment rails
  • Integrated ledger
  • Automated onboarding
  • Debit cards
  • Interest on balances

Only in Token.io

  • Payment initiation
  • Variable recurring payments
  • Bank network coverage
  • giroAPI membership
  • Payouts and refunds
  • Data and account information
  • Hosted payment pages
  • Reconciliation reporting

What people use each for

The jobs each tool is most often brought in to do.

Griffin

  • A wealth platform that must hold client money in a licensed bank rather than an EMI safeguarding accountnot Token.io
  • A lender wanting UK accounts and payment rails without becoming a bank itselfnot Token.io
  • A fintech burned by sponsor bank instability that wants the deposit holder and the API provider to be the same entitynot Token.io
  • A platform needing sub-account ledgering for pooled client funds with a clean audit trailnot Token.io

Token.io

  • A utility or telecom collecting high value bills where card interchange makes acceptance expensivenot Griffin
  • An investment or trading platform funding customer accounts without card chargeback exposurenot Griffin
  • A payment service provider adding pay by bank to its merchant proposition without building bank connectivitynot Griffin
  • A German merchant using giroAPI scheme access for recurring and future dated bank paymentsnot Griffin

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Griffin

  • Platform banking carries a one-off onboarding fee from 15,000 pounds and a 3,500 pound monthly minimum, which prices out early-stage companies entirely.
  • It is UK-only, so a business with European or US operations needs a second banking provider and a second integration for those entities.
  • It is a young bank with a small balance sheet relative to incumbents, and enterprise counterparties still ask hard questions about concentration risk.
  • Holding a banking licence means Griffin applies bank-grade due diligence to its own clients, so onboarding is slower and more selective than an EMI-based provider.
  • Feature breadth is narrower than long-established providers, particularly in card programme management and in payment types beyond core UK rails.

Token.io

  • Account to account payments carry no chargeback scheme, so merchants gain cost savings but consumers lose the dispute protection cards provide, which limits adoption in general retail.
  • Conversion depends on each bank's own authentication journey, and slow or broken bank redirects cost sales in ways the merchant cannot fix or even always diagnose.
  • Variable recurring payments beyond sweeping are still being rolled out unevenly across banks and markets, so a subscription use case may be supported at one bank and not another.
  • Token.io initiates payments rather than acting as acquirer of record, so merchants still need settlement, safeguarding and reconciliation arrangements elsewhere.
  • Coverage and feature parity vary by country, so a pan European rollout means different capabilities and different bank behaviour in each market rather than one uniform product.

Pricing, plan by plan

Griffin

£100/month
  • Business Banking$100/month
    • From 100 pounds per month
    • Interest or commission from around 1.75 percent AER variable
    • Operational accounts and UK payment rails
  • Platform Banking$3500/month
    • One-off onboarding fee from 15,000 pounds
    • Minimum monthly spend of 3,500 pounds, drawn down by usage
    • Higher committed tiers at 5,000 and 10,000 pounds with discounts
  • Enterprise$undefined/month
    • Custom pricing
    • Bespoke account structures and volumes
    • Negotiated interest or commission share

Token.io

On request
  • Token.io platform$undefined/year
    • Quoted per customer, typically per initiated payment
    • Volume tiers and monthly minimums are common
    • No interchange, so unit cost is usually well below card acceptance

Which should you pick?

Choose Griffin if

  • You need bank accounts by api.
  • You work on Web, REST API.
  • You also want uk payment rails.
Griffin review

Choose Token.io if

  • You need payment initiation.
  • You work on Web, API.
  • You also want variable recurring payments.
Token.io review

Questions people ask

Is Griffin or Token.io better?
Neither clearly leads. Griffin starts at £100/month and Token.io at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Griffin or Token.io?
Griffin starts at £100/month and Token.io at On request.
Does Griffin or Token.io run on more platforms?
Griffin runs on Web, REST API. Token.io runs on Web, API.
What is Griffin best used for?
Griffin is most often used for a wealth platform that must hold client money in a licensed bank rather than an emi safeguarding account, a lender wanting uk accounts and payment rails without becoming a bank itself, a fintech burned by sponsor bank instability that wants the deposit holder and the api provider to be the same entity, a platform needing sub-account ledgering for pooled client funds with a clean audit trail. Of those, a wealth platform that must hold client money in a licensed bank rather than an emi safeguarding account and a lender wanting uk accounts and payment rails without becoming a bank itself are not what Token.io is typically brought in for.
What can Griffin do that Token.io cannot?
Griffin covers Bank accounts by API, UK payment rails, Integrated ledger, Automated onboarding. Token.io covers Payment initiation, Variable recurring payments, Bank network coverage, giroAPI membership.

Answered from the vendors’ own pages

Griffin: Is Griffin actually a bank?

Yes. It received a UK banking licence with restrictions in March 2023 and a full licence in March 2024 after exiting mobilisation.

Token.io: Does pay by bank remove card fees?

It removes interchange and scheme fees, so unit cost is normally far below card acceptance, particularly on high value payments.

Griffin: What does it cost?

Business banking from 100 pounds a month; platform banking from a 15,000 pound onboarding fee plus a 3,500 pound monthly minimum drawn down by usage.

Token.io: What about chargebacks?

There are none. That is the cost saving and the consumer protection gap, which is why it suits bills, top ups and account funding more than retail.

Griffin: Does it cover Europe?

No. Griffin is a UK bank serving UK accounts and UK payment rails.

Token.io: Is Token.io regulated?

Yes, it is an authorised third party provider under UK and European open banking rules, but it initiates payments rather than holding merchant funds as an acquirer.

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