In the era when digital technology is predominant, the banking sector is largely occupied by mobile banks. Mobile application, easy account opening, services for all profiles, reduced fees..., these offers of autonomous management have already seduced, a priori, some 3.5 million English people. Have you also been won over? Find in this comparison our selection of the best neobanks of the moment.
Here is our commitment, to make sure that we provide the best user experience and content quality:
You can support us by using our links to make your purchases (at no extra cost to you)! This sometimes earns us a commission which allows us to remain independent. More about us
Our selection
"For the classic account, everything is free from the opening of the account to its management. However, Orange Bank offers two paying packages at €4.99/month…"
"To open a Nickel account, you have to use a kiosk at a tobacconist's or do the process on the Internet. This neo-bank is particularly…"
"N26 offers the best neo-banking application ever. Efficient, fluid and intuitive, it reflects the principle of these mobile banks. Add to that the free and…"
"Helios is one of the ecological neobanks that give importance to the impact of finance on the environment. For every account opening, you will get…"
For the classic account, everything is free from the opening of the account to its management. However, Orange Bank offers two paying packages at €4.99/month and €9.99/month.
See the offerOrange Bank has its share of advantages, but also some disadvantages to note. In return for the free offers, there are some penalties to consider such as the one related to the non-use of the bank card and other additional fees. For withdrawals and payments in foreign currencies, you will be charged a 2% commission. However, it is the best neobank on the market when it comes to accounts with a checkbook.
It is the only one to offer this service like a traditional bank. Also, customers have an overdraft account with Orange Bank. The account is linked to an interest-bearing savings account. Interest is assessed at 1% of the amount per year. Consumers can apply for a personal loan from €5,000 to €25,000 with an annual percentage rate of 0.95%. Aside from the small bugs noted by consumers, the Orange Bank app provides access to all the essential features of a neobank.
To open a Nickel account, you have to use a kiosk at a tobacconist's or do the process on the Internet. This neo-bank is particularly aimed at low-income consumers and those who are not allowed to use a bank.
See the offerWe like Nickel for its transparency and also because there are no hidden fees. It favors a better budget management with the absence of overdraft. The account is opened with a systematic authorization card. Being a French neobank, it provides a RIB domiciled in the UK. Each consumer is free to control his withdrawal and payment limits.
Thanks to Nickel's partner tobacconists, depositing money is more convenient, but at the cost of a 2% commission. In any case, the brand's premium formula is much more interesting than other offers in the same range, especially in terms of rates. The prices for operations abroad are more competitive and it offers a good package of insurance and guarantees.
N26 offers the best neo-banking application ever. Efficient, fluid and intuitive, it reflects the principle of these mobile banks. Add to that the free and quality services of the bank.
See the offerAnyone can open an account with N26. The bank does not require any income requirements and you have 4 choices of plans. It is compatible with cutting-edge mobile payment methods like Google Pay and Apple Pay. Professionals are more satisfied with N26's services. As for individuals, they have access to consumer credit to finance various projects.
Payments abroad are free and unlimited for all 4 offers. Likewise, there is no overdraft authorization in sight. The payment limit is up to €20,000/month and withdrawals are capped at €10,000/month. With N26, there are no fees for account cancellation.
Helios is one of the ecological neobanks that give importance to the impact of finance on the environment. For every account opening, you will get a natural wood card and a virtual card.
See the offerHelios has 2 offers for all customers and for young people from 18 to 23 years old. The first one is available for 6 €/month and the other one for 3 €/month. There is no commitment for both packages. You can make online payments and withdrawals with the included cards. Since its inception, consumers have not had any problems with hidden fees. We also love the design and efficiency of its application. Although, some users would have liked to have more features.
You have to be prepared for some fees for foreign operations. In any case, the financial products offered by Helios support ecological projects financed by funds that are hosted by its partner SolarisBank.
Any specific needs?
Your guide :
Rate this buying guide :By rating this buying guide, you are helping us to reward our best writers. Thank you!
| THE BEST | CHEAP | TOP OF THE LINE | EXCELLENT | |
In accordance with our commitment, this buying guide does not contain any sponsored products. |
8/10 |
8/10 |
9/10 |
7/10 |
| OUR SELECTION |
Orange Bank
|
Nickel
|
N26
|
Helios
|
|
For the classic account, everything is free from the opening of the account to its management. However, Orange Bank offers two paying packages at €4.99/month and €9.99/month.
|
To open a Nickel account, you have to use a kiosk at a tobacconist's or do the process on the Internet. This neo-bank is particularly aimed at low-income consumers and those who are not allowed to use a bank.
|
N26 offers the best neo-banking application ever. Efficient, fluid and intuitive, it reflects the principle of these mobile banks. Add to that the free and quality services of the bank.
|
Helios is one of the ecological neobanks that give importance to the impact of finance on the environment. For every account opening, you will get a natural wood card and a virtual card.
|
|
|
Application features
|
|
|
|
|
|
Number of offers
|
3
|
4
|
4
|
2
|
|
Domiciliation of IBR
|
French
|
French
|
German
|
German
|
|
Overdraft account
|
Yes
|
No
|
Non
|
No
|
|
Bank card
|
Visa
|
Mastercard
|
Mastercard
|
Visa
|
Help us improve this table:
Report an error, request the addition of a feature to the table, or suggest another product. Thank you for your kindness!
We spend thousands of hours each year studying the major specialized websites, analyzing products of hundreds of brands and reading user feedback to advise you on the best products.
We are a product review company with a single mission: to simplify your buying decisions. Our research and testing helps millions of people every year find the best products for their personal needs and budget.
To support us you can: use our links to make your purchases (which often earns us a small commission), share our articles on social networks, or recommend our site on your blog. Thanks in advance for your support!
Neo-banks are aimed at all types of users: individuals, professionals, young people and those who are not allowed to bank. The offers and management are specific according to the targets. Once the profile has been defined based on your age, your activity and your income, turn to the specialized establishments.
For entrepreneurs, for example, neo-banks add services such as help with accounting, cash management and cash outflow. Eco-consumers are a class of their own and receive special assistance. Choose the mobile bank that suits you and your principles.
The services offered by neobanks are less numerous. You may not find the services you need with some of them. In any case, they are by far the best for account management and services abroad.
Savings are not normally the domain of neo-banks, unless it is a licensed institution. Some also manage to create alternatives and compromises to satisfy these needs, such as with the no-payment account system. With this service, consumers can save regularly, but sometimes without the interest.
Customers thrive in this area thanks to the rewarding and varied investments. We are talking about buying stocks, crypto-currencies or even investing in commodities. As with any other investment, risks cannot be ruled out and require a high level of experience.
Another concept with credits, neobanks are in partnership with specialized banking institutions in order to offer more accessible traditional financing. The procedures are done largely from an app.
Your account with a neobank must be easy to open and access. This is the essence of a mobile bank. Managing the app is simpler whether it's on a smartphone or a computer. The efficiency of the institution's responsiveness when comparing offers makes all the difference, not only in relation to the creation of accounts, but also for the processing of transactions and termination if necessary. It is essential to focus on each feature and package offered.
New banks favor travelers who need a good management tool while on the go. Spending and currency are key points here. The limits of operations are to be checked, as well as the rates depending on the country. Withdrawals are often free at the best neobanks, but always depending on the destination. However, operations to Europe may be cheaper at some establishments, while others may favor transfers or payments outside the Euro zone. In any case, operations are carried out from your smartphone and access to important information such as the exchange rate and the follow-up of the operation is simple with mobile banks.
Additional options such as insurance cover and guarantees are available in certain packages. They are interesting for travelers in case of:
The scope of the guarantees is different for all banks, especially in relation to the ceilings and terms of coverage.
Neobanks are based on the use of a simple mobile application. There is no need to go to a branch to carry out a particular operation or to obtain advice and information. Opening an account takes only a few minutes, including ordering a bank card. Not only that, but transactions are executed in a shorter period of time, even instantly, compared to traditional banks.
Consumers manage the cards from their smartphones through an application specific to each neobank. Among the processing done this way:
The follow-up of these operations is done in real time and the balance can be consulted at any time on the app. It is easier to manage the budget and the risk of overdraft is minimal. Mobile banks have high-end cards with more practical services for management such as cashback.
When a neobank offers credits, it is necessarily in collaboration with a traditional bank or another credit house. For savings, the operations are carried out on a traditional account and are without remuneration. That is to say that mobile banks are rather limited on this type of service.
Licensed neo-banks have at their disposal authorizations to carry out the business of mobile banking. They are able to offer all banking services, namely
This first type of neobank is independent and does not have a branch accordingly. After that, there are still all kinds of licenses. The activities of the neobank are delimited by this parameter. There is the banking license or the credit license that allows to release funds for financing requests and of course to make classical deposits.
These financial institutions take advantage of the licenses of their partner, a traditional bank, to be able to advance banking services. The role of the traditional institute is to provide a platform for managing accounts, funds, and banking operations for the benefit of unlicensed neobanks. However, the distribution, management and customer service are completely independent.
These fintechs only manage payment accounts, but with more advanced digital services on top. They are also allowed to offer insurance related to the offers and the card. Processing transactions linked to a host may take a little longer. The unlicensed fintech system is more exposed to various financial risks.
A French neobank was created entirely in the UK. Its management center is located there. Here, there is no risk of incompatibility of services with online trading establishments in the UK.
A foreign neobank, although established abroad, offers its services in the UK. All the functionalities of its application do not encounter any difficulty, regardless of the location of the consumers. In fact, many foreign neobanks offer interesting deals in the UK and throughout Europe. Nevertheless, the domiciliation of the account corresponds to the country of origin of the mobile bank in question.
The origin of the neobank has no impact on the quality and scope of its services. To choose your neobank, the criteria remain the same. The only small detail that makes a difference is that you need to declare your bank domiciled elsewhere if it is a foreign neobank.
The financial products and services of neobanks are more innovative. Customers have several investment choices outside of traditional banking with fair fees.
Opening an account with a neobank is accessible to everyone. It is fast and free. Some foreign and domestic transactions are also cheaper or even free. This reduced rate is due to the absence of physical branches. All the management is dematerialized.
While you are on the move, you can enjoy completely independent management of your banking activities and controlled costs. The attractiveness of services for travelers is a major selling point for neobanks.
To open an account with a neobank, you don't have to fill in the same documents as with traditional banks. This system of digitalization lightens the procedure of account creation. Then, the account is controlled from the application.
There is always a suitable offer for all types of users ranging from professionals to young people and unemployed people. This is due to the fact that there are no income requirements or obligations.
In our opinion, the best brands of neobanks in 2022 are :
Created in 2016, this new mobile bank from Orange is 100% French and consists of more than half of Groupama Banque's capital. The offers and functionalities proposed have been greatly enriched during all this time and Orange Bank now satisfies both individuals and professionals.
Nickel is known for its offers for bank forbearers. This neobank does not allow overdraft and improves the budget of its customers. It is a green-oriented bank and is the first of French origin on the market. To open your Nickel account, go to a tobacconist and take advantage of the best rates.
C-Zam is the third most popular neobank. It belongs to the Carrefour group and gives access to an account particularly used for payments. Nevertheless, it offers all banking services and provides insurance guarantees with the account.
It is a neobank with a great reputation in Europe and in the UK especially. N26 is on its way to welcoming more than 7 million consumers. Although present in the UK, this mobile bank is of German origin.
Revolut is not left behind compared to other most popular neobanks. It provides access to high-end and diversified financial products. It is a mobile bank that favors long and medium-term investments.
Take the time to decipher the basics of your neobank's application
The application proposed by the neobanks is used on smartphone, tablet and computer. In any case, master its operation for a smooth management of your bank account. Easy-to-use tools with options that match your needs won't complicate your life.
Take advantage of cashback
Neobanks take advantage of cashback. Customers earn back a portion of their spending on purchases through this system. The amount in question is used in investments or as savings and can also be withdrawn. But not all neobanks include these cashback programs among their services.
With neobanks, you can test the principle of the shared kitty
The shared kitty is for people who share a flat or go on vacation together and also for all others who engage in joint activities. The goal is to gather the budget for a better organization and to reduce costs even more.
Make investments
Savings products are not so well paid as shares and investment products. Neo-banks offer several possibilities to invest and get rich in companies and activities that correspond to one's values.
Beware of hidden fees
There are many institutions that apply hidden fees. To avoid any surprises, ask to see the entire fee schedule at the beginning of the contract. Foreign transactions and business accounts are more prone to these hidden fees.
All you need is a smartphone or other digital medium to open an account with a neobank. The whole operation is done on the bank's website. The identity card is the only document required. You fill in some fields and voila, the account is operational. All this takes place in a few minutes. Be prepared to make a minimum deposit to validate the registration.
Entrepreneurs and business leaders are attracted by the innovative services and enticing rates of neobanks. These privileges are felt when it comes to managing an organization's account. Online players take advantage of this facility to set up a remote payment system on their site. At the same time, neo-professional banks emphasize transparency of costs and operations.
The online bank presents the same services as the traditional bank. It can be attached to a physical parent bank or not. In the second case, everything happens on an application or a site. The neobank is also 100% online, but the services are slightly different. More attractive rates are at hand with mobile banks and the subscription is faster.
It is true that this operation is not allowed by all neobanks because of the dematerialization of their activity. However, the best ones are an exception to the rule and offer check cashing through premium packages. This possibility is subject to conditions that vary from one bank to another.
Every month we help more than 1 000 000 people buy better and smarter.
Copyright © 2022 - Made with ♥ by buyingbetter.co.uk
Your reviews and buying guides 0% advertising, 100% independent!
