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

Managing your money has come a long way from long queues and paper forms at brick-and-mortar branches. Today, you can open an account, send money, or check your balance all from your phone.  These digital-first platforms are called “neobanks”. 

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.

A neobank is a digital-only financial platform that offers banking services through mobile apps or websites, with no physical branches. Unlike traditional banks, neobanks are built around technology-first solutions, enabling users to manage their finances easily and efficiently on-the-go.

Some neobanks hold full banking licenses and are regulated the same way as traditional banks. Others operate under a different model, partnering with licensed banks to provide financial services, without holding a banking license themselves. In this case, they are technically fintech companies, not banks.

Monzo is a British digital bank known for their user-friendly everyday banking. You can spend from your current account, separate money into a sub-account for savings, split bills, automate payments, track expenses, earn cashback and more. 

Monzo operates in both the UK and the US. The UK version supports both personal and business accounts, while the US version currently focuses on personal services only. 

UK businesses can send and receive payments through cash deposits, cheques, online payments, payment links, and QR codes directly within the Monzo app.

Chime is a US-based financial technology company that provides accessible financial solutions designed for everyday needs. 

Chime has become one of the more visible names as a neobank, largely because of their fee-free offerings for everyday electronic money transfers and their credit-building products, many of which do not require a credit check, so you don’t need existing credit to start improving it. 

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.  They began as a fintech company before becoming a licensed bank, and now serve over 3 million customers through their 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.

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 through a feature called Money Manager.

Current is a New York City-based financial technology company that offers 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. Another feature Current highlights is the “Power Up” paycheck. When you move your direct deposit to Current,  you can get a part of your paycheck instantly for a fee, or access your paycheck 3 days early for free.

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

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.  

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. 

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.

Revolut started in London but has grown into other markets beyond the United Kingdom, including the United States and several European countries. They started as a fintech company and, over time, have transitioned into a bank in some regions, now serving over 65 million customers.

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, travel insurance, 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. 

You can also use their service to send money internationally and use a Starling card to spend while travelling abroad. 

Starling’s business and sole trader bank accounts allow for easy management of incoming and outgoing funds for modern business owners and freelancers. They also offer business loans.

Majority is a subscription-based mobile financial service in the US built by migrants for migrants. They offer an all-in-one membership that combines essential financial and communication tools to help internationals live, work, and stay connected in the United States.

Members receive an account for banking, Visa® debit card, access to money transfers, mobile top-ups, cashbacks, and low-cost international calling packages.

Bunq is a Dutch neobank licensed and regulated in the Netherlands, serving customers across most of Europe. Bunq emphasizes flexibility, sustainability, and full control over your finances through an intuitive mobile app.

The company offers tailored accounts for students, expats, couples, parents, freelancers, and SMEs, making them a versatile option. Sustainability is one of Bunq’s missions, as they support projects with positive social and environmental impact, plant trees for every €1,000 card spending and do not invest in fossil fuels. 

For expats, Bunq offers an easy setup where you can a European account without a tax ID

Neobanks today serve a wide variety of purposes, from everyday spending and saving to investing, traveling, or supporting social causes. Below, we’ve categorised the top neobanks by their best-fit use cases to help you quickly find the one that matches your lifestyle or financial goals.

• Monzo (UK, US): For simple, intuitive banking with sub-accounts for budgeting, spending insights, and saving automation.
• Chime (US): Great for everyday banking and credit building with fee-free checking, early direct deposit, and debit cards that help build credit.
• Starling (UK): A fully licensed digital bank offering personal, joint, and teen accounts with budgeting tools 

• Varo (US): Up to 5% APY on balances up to $5,000, no monthly fee
• Current (US): Up to 4% APY, if you maintain a direct deposit of $200+ monthly, no monthly fee, plus auto-saving features.
• Starling (UK): Up to 3.80% AER (fixed savings), no monthly fee

Revolut also offers high rates, ranging from 3.51%–4.51% AER, but requires a subscription plan that can cost up to £55 per month. Whether it’s the most affordable option depends on the balance you plan to maintain.

• Acorns (US): For beginners and micro-investors. Automatically invests spare change and offers IRA and custodial accounts.
• Current (US): Allows users to buy and sell cryptocurrencies directly with no trading fees.
• Revolut (UK, Global): A comprehensive platform for investing in stocks, crypto, and commodities alongside banking and travel services.

• SoFi (US): One of the few neobanks offering a full range of lending products, including personal, student, small business, auto loans, and mortgages.
• Monzo (UK): For personal loans in the UK.

• Revolut (UK, Global): For international travelers and freelancers. Supports multi-currency spending, trading, and insurance.
• N26 (EU): Designed for travelers and freelancers, with fee-free card payments abroad and travel insurance included in premium tiers.

• Majority (US): Built for immigrants and expats living in the United States. 
• Bunq (EU): Great for expats in Europe. Allows account setup without a tax ID and provides multi-currency accounts.

• GreenFi (US): Planting trees with every purchase, avoiding fossil fuel investments, and donating 10% of your customisable monthly fees to environmental causes.
• Bunq (EU): Supports eco-conscious initiatives by planting trees for every €1,000 spent and ensuring funds are not invested in fossil fuels.

• Revolut (UK, Global): Multi-currency accounts for freelancers and companies
• Starling (UK): Offers business and sole trader accounts that simplify managing incoming and outgoing funds.
• Bunq (EU): Multi-IBAN business accounts for freelancers and SMEs

Below is a ranking of neobanks by interest rates. 

High-yield savings often come with conditions, such as minimum balances or required subscriptions. Some accounts have monthly fees, while others do not. The table below outlines all the details.

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

There’s no one-size-fits-all neobank. The right one depends on how you use your money, where you live, and what you value most. Here’s how to find your best match:

1️⃣ Check if it works where you are
Although most neobanks operate worldwide, some only serve certain countries or currencies. Some require you to reside in specific jurisdictions. Make sure you can open an account and use it with your local payments or ID.

2️⃣ Choose based on purpose

Neobanks are built with different users in mind. Some focus on saving and budgeting, others on travel or business. Look at the type that matches and the features that make sense for you. Skip the extra that comes with a higher plan or monthly fee if you don’t need them.

3️⃣ Compare what actually costs you

Neobanks and fintech institutions are known to offer lower fee structures compared to traditional banks. In the same region, several options may offer similar advantages. For example, in the US, the major neobank players often provide fee-free banking and free overdraft. To see which one is truly more competitive, check the full breakdown of fees for services you use most often. 

4️⃣ Test their support
Poor customer support is one of the biggest pain points for online-only banks. Without a branch to visit, you rely entirely on online help. Quick, reliable support can make or break your experience. Try their live chat if available, send an email, or even reach out on social media. See how fast they respond and how helpful they are. 

5️⃣ Don’t skip security
Stick to licensed providers and look for built-in protection like two-factor login, biometric login, and data encryption. Since your account lives on your phone, the security of the app is the security of your money.

6️⃣ Learn from real users
Check reviews from people in your country or with similar needs. They’ll tell you what the app gets right, and what’s frustrating day to day. Examples of good places to start include app stores, Reddit threads, and Trustpilot, where you can filter by rating.

7️⃣ Try the app
If the app feels clunky or confusing, it probably won’t get better later. A smooth, intuitive design is a good sign you’ll actually enjoy using it.

Most neobanks in the US, UK, and Europe are designed for personal and local use. Some cater to businesses, and a few support international money transfers. Eligibility is often limited to residents or locally incorporated companies in the Europe or the US. 

For businesses based in Asia, you may need a more region-focused solution. Statrys addresses this gap. 

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.

With Statrys, you can send money to and from over 140 countries, track payments in real time, hold 11 currencies, and get real human support via phone, WhatsApp, email, and WeChat. 

See the benefits below: