There are different types of online banks: neobanks, pure players, banks of insurers... Most of them offer complete services, including current account, payments and withdrawals, credit offers, savings... Arguments that have seduced 1 in 4 English people. To find your way through the offers and brands, read our guide to the best online banks.
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Our selection
"Monabanq stands out, with more than attractive membership conditions. With no income requirements or commitment, open a current account quickly and get a welcome bonus…"
"Hello bank ! is getting even closer to its users, with offers that are non-binding and have no income requirements. And if you sponsor a…"
"BforBank is a subsidiary of the Crédit Agricole Group. Previously, the conditions for opening an online account with BforBank were restrictive. Today, it is much…"
"With N26, you can open a free online bank account without any paperwork. You can save, spend and even track your transactions and savings with…"
Monabanq stands out, with more than attractive membership conditions. With no income requirements or commitment, open a current account quickly and get a welcome bonus of up to €160 when you open your account.
Visa card for 2 €/month (Pratiq Offer)Monabanq offers you 4 types of offers adapted to your daily life: Pratiq, Pratiq+, Uniq and Uniq+. As a bonus, the bank offers you up to 160 € when you open your account. The Pratiq and Pratiq+ offers are the most basic and accessible offers of Monabanq, while Uniq and Uniq+ are more like Premium offers.
Pratiq and Pratiq+ cost €2/month and €3/month respectively, which are still affordable rates, although other online banks (notably Hello bank!) offer accounts at €0/month. With Uniq and Uniq+, you get access to more substantial advantages such as the deposit of checks and cash, payments and withdrawals in the euro zone and outside the euro zone, and many other advantages that can be consulted on the Monabanq website.
Hello bank ! is getting even closer to its users, with offers that are non-binding and have no income requirements. And if you sponsor a new customer, Hello bank! offers you €20.
0€/month Visa card (HelloOne)At Hello bank ! members can only choose between 2 types of offers: Hello One and Hello Prime. The first one is proposed at 0 €/month while the second one is at 5 €/month. Obviously, we would be more tempted by the Hello One offer which allows you to get a free Visa card with the possibility to make free card payments in the world.
The Hello Prime offer is no less interesting. By paying 5 € more per month, you still get a Visa card, but unlike the one offered with Hello One, this one allows you to make free payments and withdrawals everywhere in the world, not only in Metropolitan France and in the French overseas departments and territories. Moreover, with the Hello Prime Visa card, you benefit from a back-up solution in case of theft or loss of the card while traveling abroad.
BforBank is a subsidiary of the Crédit Agricole Group. Previously, the conditions for opening an online account with BforBank were restrictive. Today, it is much more flexible.
Visa Infinite card at 200€/yearBforBank is an online bank that can offer you a bank account linked to a free Visa card (Classic or Premier). Whichever card you choose, you benefit from 0 fees on your current transactions and various guarantees: insurance and assistance. In addition, mobile payment with Apple Pay is allowed. It should be noted that when you open your account, you can choose between an individual account and an account.
BforBank is also and above all a high-end online bank. There are several reasons for this. The first is that it is the only online bank to offer a Visa Infinite bank card at €200/year. The Infinite classification on Visa cards refers to a set of super-premium benefits. So, with this Infinite card from BforBank, you get protection on purchases, protection on return or reimbursement for lost luggage, among others.
With N26, you can open a free online bank account without any paperwork. You can save, spend and even track your transactions and savings with just one app. It's the next generation of online banking.
Virtual card at 0€/month (N26 Standard account)N26 is a neobank that offers 4 personal bank accounts: N26 Standard, N26 Smart, N26 You and N26 Metal. The N26 Standard account is free and offered with a virtual card for €10 with a bonus of 3 free withdrawals every month. The other offers are paying with fees of €4.90/month for N26 Smart or €16.90/month for N26 Metal which is the most complete offer at N26.
The main advantage of N26 is that it is a 100% mobile bank and you can organize your money easily with the N26 Spaces app. The app allows you to create sub-accounts to manage your spending and saving and reach your savings goals. After signing up for the N26 mobile app, you can view your account on a desktop computer or any other device with its web app. In addition, N26 guarantees your deposits up to 100,000 euros.
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| The best | LOW COST | NEOBANK | ||
In accordance with our commitment, this buying guide does not contain any sponsored products. |
9/10 |
7/10 |
8/10 |
8/10 |
| OUR SELECTION |
Monabanq
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Online banking - Hello bank!
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BforBank
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Neobank - N26
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Monabanq stands out, with more than attractive membership conditions. With no income requirements or commitment, open a current account quickly and get a welcome bonus of up to €160 when you open your account.
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Hello bank ! is getting even closer to its users, with offers that are non-binding and have no income requirements. And if you sponsor a new customer, Hello bank! offers you €20.
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BforBank is a subsidiary of the Crédit Agricole Group. Previously, the conditions for opening an online account with BforBank were restrictive. Today, it is much more flexible.
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With N26, you can open a free online bank account without any paperwork. You can save, spend and even track your transactions and savings with just one app. It's the next generation of online banking.
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Benefits
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Welcome bonus of up to €160 for the opening of a first current account
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Referral bonus of €20, offered to the sponsor and the sponsored child for opening a current account
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Mobile payment with Apple Pay allowed
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100% Mobile, guaranteed no paperwork and no hidden fees
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Types of offers
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Pratiq and Pratiq +; Uniq and Uniq +
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Hello One; Hello Prime
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One offer, but with three bank card choices
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N26 Standard; N26 Smart; N26 Standard
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Card
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Visa with systematic authorization - Visa Classic - Visa Premier
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Visa Hello One - Visa Hello Prime - Visa Classic - Visa Premier
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Visa Classic - Visa Premier - Visa Infinite
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Virtual card - Color card - Premium color card, - Premium metal card
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Savings
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Yes
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Yes
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Yes
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Yes
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Credit offers
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Yes
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Yes
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No
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Most online banks issue a free card when opening the account, without requiring a fee. However, the bank may ask for proof of monthly income. However, more and more online banks are offering free or low-cost bank cards without proof of income. With some online banks, the customer must make a minimum number of transactions per month with his card. If this condition is not met, the card loses its free status and the customer must pay the fee.
The future client of an online bank is above all looking for more autonomy than with traditional banks. In case of problem in the management of his account, he will contact the bank via a mobile application most of the time. The online banks offer an almost permanent customer service. Some banks can be contacted until 10 pm, others are available 24 hours a day. The final choice of the customer will depend on his needs, but especially on his habits in the way he manages his account.
Abroad, the amount of bank fees generated by payments and withdrawals can quickly add to your budget. The amount of commissions varies according to the bank. If you frequently travel abroad, take the time to check your future bank's pricing conditions outside the euro zone. Some online banks offer, at affordable prices, offers specially designed for frequent travelers. This is an interesting option, and will save you huge management fees.
Depending on the account holder's situation (student or worker), the proof of address required to open an account may be different.
Which proof of address for workers ?
If a worker wants to open an account at the bank, he/she will present a bill (less than 3 months old) for gas, electricity or water. A fixed or cell phone bill (less than 3 months old) can also be used. Concerning the cell phone, the bank requires that the operator is national.
The last tax notice, or the housing insurance certificate of the current year are also accepted. The title deed (for a worker-owner), or the rent receipt (for an employee-tenant) are also valid as proof of address.
Whichever document is offered, it must be in the name of the account applicant.
Proof of address for students
For students staying in free accommodation, the host will produce a handwritten proof of accommodation for the opening of the student's account. In the case of a married student, with proof of residence in the name of her spouse, the latter will draw up a declaration of accommodation in the name of his wife.
There are various types of online banks: pure player, neobank or insurance bank, these establishments differ according to their activities and the services they offer.
Pure player online banks are subsidiaries of traditional banks. To obtain a classic card, the customer must have a certain income. The pure players have the same guarantees as the parent banks. Among their strong points, we can retain very low tariffs, the ease of access to services and the great variety of offers.
Customers have access to the classic products offered by the parent bank: loans, savings, payments and card withdrawals... The operation of these online branches is completely dematerialized: the customer cannot go to a physical branch. All the steps are done online, which can be quite restrictive in case of a dispute.
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commonly known as mobile banks, neobanks are digital banks. Controllable from a smartphone, they offer a wide variety of products, including account management, bank card operations, transfers, insurance packages...
Due to the absence of a branch, cashing a check can be quite difficult, as can depositing cash. In addition, the customer does not have a checkbook and cannot access credit offers. For this reason, users prefer to use this type of account for basic operations, such as withdrawals or payments.
These
establishments offer classic account management services: card withdrawals and payments, direct debit, account consultation via the customer area, credit offers... Purchases made by bank card are insured. In the event of product return, accidental damage or theft, the customer receives compensation, which is granted under certain conditions.
A minimum amount of income is required to obtain a classic card. It is important to note that insurance and banking regulations are different in each country. The client must therefore check the availability of his bank's insurance services abroad before opting for this solution.
An online bank is completely dematerialized. Everything is done via the Internet. The presence of the account holder in a physical branch is not required.
Advantages:
Disadvantages:
The traditional bank is a physical bank. The operations are carried out directly at the counters or with the specialized services. In addition, customers can meet directly with their account manager if they wish.
Advantages:
Disadvantages:
Online banking can be an interesting choice for customers who want to save time in their dealings. Many members are attracted by the attractive conditions offered by most online banks: welcome bonus, referral bonus, etc. So many reasons that can tip the balance towards this new way of managing finances.
Many people, and among them, professionals, prefer traditional banks for many reasons: these classic banks allow them to meet a physical interlocutor in case of need. This choice can also be motivated by the proximity of the bank to the place of residence or the place of work.
Convenience
Thanks to the explosion of the always-on Internet and the services available on it, the last decade or two has turned many of us into impatient people. But honestly, who wants to stand in line to check their account balance? Online banking is perfect for those who want 24/7 access to their funds and other banking services. Between internet-enabled mobile phones, tablets and laptops, you can conduct your banking anywhere. So if you remember that you don't have enough cash in your account to cover the check you just wrote, you can easily solve the problem, just make sure you do it from a secure connection.
Easy to monitor
Even the largest and most respected banks make a mistake from time to time, and it's not always in your favor. It's awfully easy for amounts to be recorded incorrectly and for payments to slip through the cracks. Online banking allows you to monitor your account balance and pending transactions in real time. So if your employer forgets to pay, or if the check you deposited isn't added to your account in a timely manner, you can do a little digging to determine what the delay is.
Payroll management of invoices
Invoices. They are the necessary evil that no one likes to deal with, but the ability to pay them online takes some of the sting out of the process. Setting up a regular online payment schedule will help you avoid late fees, as everything is automatically paid on time - no stamps required. This is especially useful for bills that don't usually vary in amount, such as car or mortgage payments. Bills that change in amount can be easily monitored and paid at your convenience.
Direct Deposit
There's no need to twiddle your thumbs while you wait for your paycheck to arrive on your desk. Instead, arrange to direct deposit your payments online so you have immediate access to your funds. It may not be as exciting as seeing all those numbers on a paper check, but the time you save standing in line at the bank to deposit the money is enough to make up for it.
Money Transfers
Whether you have a child in college or a friend who needs an immediate cash infusion, the money transfer options offered by online banking make it easy to send funds where they need to go quickly. This action is especially simple and often free if the person you are transferring money to has an account with the same bank. However, don't worry if the recipient deals with a different institution. It usually takes a little longer (often 24 hours or less) and the associated fees are nominal, although you should take care to confirm the costs before making the transaction.
Generate income with banks!
Some banks offer a welcome bonus to their new customers when they open their current account. The amount varies from bank to bank, depending on the promotional offers and periods.
Take advantage of the sponsorship.
Sponsorship allows you to receive a bonus from the bank. All you have to do is invite a new customer as a referral. You can sponsor a maximum number of referrals, the number may vary by bank.
Waiting period for the opening of an account.
For
an online bank, if the opening requires the form to be sent by mail, the delivery of the RIB will therefore be postponed by a few days. Otherwise, all the steps are carried out via internet in a few clicks.
Open an account with an online bank for your children.
A
minor can open a bank account at any age. The opening will be executed by the parents or the legal guardian, who will be in charge of the administration, the enjoyment, the funds and the movements. They will also have full and exclusive responsibility.
Borrow money from an online bank.
Yes, it is
possible. All the steps, from the application to the sending of the required documents and the signing of the contract, are done on the internet.
The best online bank depends on your needs and your budget. Read our buying guide to find out which products are the best.
Yes, with an online bank you will receive a bonus when you open a savings account, with a legally regulated or non-regulated investment.
With the mobility assistance, the new bank takes care of all the administrative formalities relating to the change of bank: automatic transfers, direct debits, etc.
Depending on the type of offer, some bank cards are accepted abroad and avoid exchange problems if you cross the border into the euro. Be sure to check the terms of use of the card before signing up for a particular offer.
Some online banks impose a monthly transaction threshold (deposit, withdrawal or savings) on certain categories of cards. It's up to you to keep a close eye on your online transactions, or you'll be charged additional fees.
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