12 Top Neobanks: Which Is Right for Me in 2025?

Not long ago, managing your money meant waiting in lines, filling out forms, and visiting brick-and-mortar branches. Today, all of that can happen from your phone. You can open an account in minutes, track your spending in real time, and skip the fees and paperwork. These digital-first platforms—some fully licensed banks, some fintech companies—are known as “neobanks”, and millions worldwide are already using them.

If you're thinking about switching to a neobank, the number of options can feel overwhelming, and of course, not all of them offer the same experience. This article offers a look at the ones doing it best across the US and Europe.

But first, let’s begin with what a neobank is.

Neobanks are financial institutions that offer financial services entirely online, typically through mobile apps and website interfaces, with no branches. Typically, a neobank offers functions like accounts for money management, cards, plus innovative features like smart budgeting and instant alerts, all with a focus on a user-friendly interface.

It’s important to note that different countries may regulate and view “neobank” differently. In some regions, a neobank is a fully licensed bank. In others, it is a fintech company that partners with traditional banks to provide services.

On top of that, you’ll hear a range of terms like “challenger bank,” “digital bank,” and “virtual bank.” These terms often overlap but can mean different things depending on where you are. 

For example, in the UK, “challenger bank” usually refers to new banks competing with established ones. In the EU, the term “neobank” is often used interchangeably with “digital bank.” In contrast, in some other regions, such as Hong Kong, “digital bank” (formerly virtual bank) refers specifically to fully licensed banks that operate entirely online.

Not always. Some neobanks hold a full banking license and are regulated in the same way as traditional banks. Others operate under a different model. They partner with licensed banks to offer financial services but don’t hold a banking license themselves. In other words, they’re technically fintech companies, not banks.

Chime is a US-based financial technology company that provides accessible financial solutions designed for everyday needs. They offer several credit-building products like the Chime Credit Builder Secured Visa® Credit Card and a second-chance bank account, both of which require no credit check to apply.

Recently, Chime introduced an early direct deposit that lets users access their paycheck earlier than the scheduled date, helping people manage cash flow before payday.

Varo is an American all-digital bank headquartered in San Francisco. It began as a fintech company before becoming a licensed bank, and now serves over 3 million customers through its mobile app.

Varo offers a free bank account and competitive interest rates on savings accounts. With Varo’s automatic savings tools, leftover change from purchases or a percentage of direct deposits can be deposited into savings, helping customers save more effortlessly. The bank also offers a credit builder card, early paycheck access, and free money transfers to anyone, whether they are using Venmo, Chime, or any US bank.

Current is a financial technology company based in New York City. They offer various digital financial services designed to help grow your money, including credit-building payment cards and high-yield “Savings Pods” with features like Round-Ups, which automatically save spare change from your purchases.

Moreover, Current offers fee-free cryptocurrency trading, allowing users to buy and sell popular coins like Bitcoin, Ethereum, and Tether.

Previously known as Aspiration, GreenFi is a financial technology company offering climate-friendly finance solutions to US individuals. GreenFi is committed to not investing in or funding projects involving fossil fuels. When you opt in, the company plants trees with every card purchase and offers carbon credit offsets to cover your car’s emissions.

What sets GreenFi apart is that they do not charge a monthly fee on standard checking and savings accounts. Instead, customers can make an optional contribution called “Pay What Is Fair” (PWIF), and 10% of contributions go to environmental charities. 

Acorns is an American financial technology company that specialises in micro-investing and automated savings. They offer “Invest” for general investing, “Later” for retirement, “Early” for investing for kids, “Sustainable” for ESG-focused portfolios, and “Bits of Bitcoin,” which allocates 5% of your investments to a Bitcoin-linked ETF.

You can get the Acorns’ “Mighty Oak” debit card, which earns interest and helps you invest by rounding up spare change from purchases. Acorns can also automatically take a portion of your paycheck and invest it for you.

SoFi is an online bank that offers a wide range of financial products. Their main strengths are in lending, especially student loans, personal loans and mortgages. 

Primarily intended for personal use, they are also expanding into small business financing and have also recently launched a premium account with benefits and perks like referral bonuses, member rate discounts, and financial planning consultations. SoFi has over 8 million members and provides services through a mobile app.  

Revolut started in London but has grown into other markets beyond the United Kingdom, including the United States and several European countries. It has gained over 40 million users since its launch in 2015. 

The platform is known for the multi-currency accounts that allow users to send international transactions. Users can also trade stocks and cryptocurrencies directly within the app. Additional features include customisable cards, savings accounts, and a loyalty program. Free and paid account plans are available for individuals and businesses.

*Revolut’s fees vary across regions, currencies, account types, and specific services. We recommend checking their pricing page from your location for accuracy. 

Starling Bank is one of the UK’s fast-growing challenger banks, offering personal, business, and joint accounts with no monthly fees. Starling Bank’s users can access their accounts, as well as benefit from budgeting tools and 24/7 customer support all through the mobile app. 

Starling’s business and sole trader bank accounts allow for easy management of incoming and outgoing funds for modern business owners and freelancers. Because Starling is a fully regulated bank, your money is protected by the Financial Services Compensation Scheme. Starling Bank also offers business loans. As of 2025, Straling has opened over 4.2 million bank accounts.

Monese is a British financial technology company that provides digital alternatives to traditional banking. It primarily serves residents in the UK and across Europe. It offers personal, joint, and multi-currency accounts in GBP, EUR, and RON.

With Monese, you get an instant account setup, instant top-ups, and real-time spending notifications. The platform includes savings features, a card for spending and withdrawals, and more. As a mobile-only service, everything, from making payments to freezing your card, is managed entirely through the app.

Monzo is a British digital bank that offers financial services for individuals and small businesses in the UK. Their products include current accounts, overdrafts, loans, credit cards and expense cards.

Monzo supports personal money management by letting you separate money into pots (subaccounts), split bills, track shared expenses, automate bill payments, and earn cashback. For businesses, Monzo makes it easy to pay and get paid through cheques, cash, in-person and online payments, payment links, QR codes, and more.

Lunar is a Denmark-based digital bank designed to streamline money management for individuals and businesses in the Nordic region (Denmark, Sweden, and Norway). The bank offers various financial products, such as virtual and physical payment cards, personal loans, travel insurance, crypto investment options, and competitive interest rates on savings accounts.

Lunar claims to offer the cheapest business bank accounts in Denmark based on first-year costs for nationwide banks with publicly available prices. The business banking accounts are similar to personal accounts and follow a tiered pricing model,so customers won’t have to pay for features until they need them. Lunar also offers automatic payments with direct debit and business loans.

N26 is a fully licensed German digital bank that provides a wide range of online banking products and services, including current accounts, savings, and investment options. 

Designed with everyday lifestyle and travel in mind, N26 offers account plans that include features such as travel insurance and airport lounge access. A key highlight of their savings accounts is the interest rate linked to the European Central Bank (ECB) rate. In terms of business, the N26 Business account is primarily tailored for freelancers. They currently have over 8 million users across Europe.

Now that we’ve explored the top neobanks worldwide, you might be wondering: which one is right for me?

Choosing the best neobank depends on your individual or business needs and priorities. Here are some factors to consider when making your decision:

• Fees: Neobanks and fintech institutions are known to offer lower fee structures compared to traditional banks. However, you should still compare fees for services that you will use often, like international transfers, ATM withdrawals and cash deposits.
• Location and Availability: Although neobanks operate entirely online, they still have to follow the regulations of specific countries. Ensure the one you choose is available where you live, you're eligible to open an account, and it supports your local currency.
• Account Types and Features: Consider the specific types of accounts you need (personal, business, joint) and the features you prioritise (budgeting tools, early direct deposit, cashback rewards, virtual cards, etc.). Choose a neobank that offers the right mix for you.
• Customer Support: Good customer support is essential, especially for online-only banks, since you can’t visit a physical branch if something goes wrong.  Check for availability of live chat, phone support, or email assistance and consider their response time and helpfulness. Also, make sure they offer support in the language you speak.
• Security and Regulation: Ensure the neobank is properly licensed and regulated in your country. Protect your financial data by looking for features like two-factor authentication, biometric login, and encryption.
• Reviews and Reputation: Research the neobank's reputation by reading online reviews and testimonials from other users. This can give you insights into their strengths and weaknesses.
• User Experience: An intuitive interface can make everyday banking tasks easier and more efficient. Look for a neobank with a well-designed mobile app or website that allows you to navigate easily and access all features without frustration.

Most neobanks in the US, UK, and Europe are designed for personal and local use. Only a few cater to businesses, and even fewer support international money transfers. Eligibility is often limited to residents or locally incorporated companies in the West. If your company is not registered—or doesn't plan to register—in the UK, Europe, or the US, and you're instead based in Asia, you may need a more region-focused solution. Statrys offers a practical alternative. It’s built for companies working across markets.

Statrys is not a bank, but a licensed Money Service Operator in Hong Kong, offering cross-border payment solutions and multi-currency accounts for businesses registered in Hong Kong, Singapore and the BVI.

Statrys prioritises transparency and convenience, offering customer support with real people through multiple channels, including phone, WeChat, and WhatsApp. Every account comes with a dedicated manager to assist with your business needs. 

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