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16 Greatest Neobanks of 2023 [Full List]

icon of a neobank

Neobanks are comparatively new and have emerged as a response to the rising demand for extra handy and accessible banking providers.

The phrase “neo” has been utilized in a number of circumstances, from anthropology to widespread tradition and the leisure trade. 

If you apply the idea of “neo” as one thing new to the historic monetary sphere, new alternatives abound. The rise of expertise has coined the time period “Neobanks,” which refers to a brand new kind of financial institution that’s the topic of this text. 

Actually, we’ll talk about simply what Neobanks are in addition to why they could possibly be necessary to you and a checklist of high Neobanks and what they provide (click on right here to leap forward).

Competitors amongst banks has created a have to carry banking into the longer term, the place expertise performs a higher half within the consumer expertise.

Quite than visiting a neighborhood department of your chosen financial institution to work together along with your cash, you are able to do all of it out of your smartphone as an alternative. 

For the typical shopper, Neobanks provide a number of alternatives in some ways. We’re right here to introduce you to a few of the finest Neobanks you’ll be able to financial institution with to profit from the expertise.

Not all banks are made the identical, however Neobanks might give you one thing a conventional financial institution can’t. All of it is dependent upon what you’re on the lookout for. 

Are you able to study extra about the very best Neobanks of 2023? Let’s get began!

What’s a NeoBank

Because the title suggests, Neobanks are a brand new kind of financial institution that supply the general public digital banking options. In contrast to conventional banks which might be characterised by bodily branches and on-line/cell functions to help day by day enterprise, Neobanks are online-only.

These banks are sometimes known as challenger banks since they “problem” the concept banking requires a bodily presence to operate.

With little overhead when it comes to paying for a brick-and-mortar, Neobanks emphasize a streamlined digital expertise that prioritizes consumer interplay.

The sort of banking is widespread with millennials, who’re used to working with expertise to go about their lives. NeoBank apps, subsequently, function a slew of providers that members can entry effectively via an account that exists solely on-line. 

Neobanks nonetheless exist inside a regulated market. Actually, a lot of them are FDIC-insured. Whereas there are definitely U.S.-based Neobanks you’ll be able to select to financial institution with, you is perhaps shocked to seek out that many European banks are embracing this digital mannequin as effectively.

After proving themselves throughout the pond, these Neobanks typically come to American soil as a strategy to prolong enterprise. 

16 Greatest Neobanks of 2023

Lots of the Neobanks listed under are poised to problem a few of the largest banks within the U.S. in providing a few of the finest checking account bonuses, financial savings accounts, and enterprise financial institution accounts on the market.

One of the best half is that you simply, the buyer, profit from this competitors. 

(To our readers: The checklist is in alphabetical order)

1. Acorns

If you happen to’re on the lookout for a Neobank that provides each micro-investing and a few of the finest robo-advisors, look no additional than Acorns.

This financial institution provides each checking accounts and funding choices as effectively to assist customers financial institution in a single place for comfort. Plus, you’ll get early direct deposit to achieve entry to your hard-earned funds sooner. 

Acorns boasts over eight million customers. Many customers benefit from the checking account that comes with a debit card that they’ll use to earn money again, cell test deposit, and nothing in the best way of overdraft charges.

Month-to-month account charges vary from $3-$5 however you may as well make investments your spare change when you’d like. Acorns can be linked to a community of over 55,000 ATMs and provides various ranges of funding providers. 

Acorns Checking


Acorns Checking gives a checking account with no minimal stability or overdraft charges and entry to 55,000+ fee-free ATMs. Get hip to on-line banking that robotically saves & invests for you. Plus, no hidden charges — ever.

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2. Aspiration 

Open an Aspiration Spend & Save Account to earn as much as 3% APY in your financial savings or 5% APY with an Aspiration Plus account.

Aspiration additionally provides money and funding accounts along with a Zero bank card that vegetation a tree each time you make a purchase order.

Month-to-month charges vary from nothing out of pocket to $8 on the most, which makes it an inexpensive choice if you’re eco-conscious. An Aspiration account additionally permits you to earn as much as 10% money again whenever you make Conscience Coalition purchases.

Plus, you’ll be able to see the environmental influence your buying has primarily based on what companies you’re buying at. Aspiration is house to over 500,000 account holders, establishing it as a reliable NeoBank value wanting into. 

3. Bella 

There aren’t any month-to-month charges whenever you enroll with Bella, a Neobank identified for its Unconventional Saving Guidelines system. Inside this technique, you’ll be able to arrange computerized financial savings to switch over when a particular occasion occurs, such because the climate hitting above 70 levels Fahrenheit. Plus, there’s no minimal stability required and also you earn 0.04% APY. 

Bella companions with nbkc financial institution to supply FDIC insurance coverage as much as $5 million. This alone may help ease the concerns of shoppers undecided about Neobanks on the whole. Along with financial savings accounts, Bella additionally provides checking accounts that permit for personalisation. Plus, the debit card you obtain along with your new checking account is created from recycled ocean plastic. 

If you use your new Bella debit card, you may as well earn a random reward of as much as 200% money again. You possibly can robotically deposit this into your checking account, shock different Bella members by allocating it to a Karma account, or donate it to charity. 

4. Bluevine

Neobanks aren’t only for private use; as an alternative, you should utilize Bluevine for all your small business checking and enterprise mortgage wants. There aren’t any month-to-month account charges however you’ll earn 2% APY for all balances beneath $100,000 inside your new enterprise checking account. 

With simply over 20,000 account holders, Bluevine is a youthful firm. Nonetheless, it’s a terrific instrument you should utilize to construct up your small enterprise, particularly given the Enterprise Checking account provides limitless transactions. 

5. Chime 

If you happen to’re undecided the way to enhance your credit score rating and are on the lookout for an app that may show you how to, try Chime.

This app works with different money advance apps as effectively to benefit from your cash. Plus, with Chime SpotMe, you’ll be able to overdraft your account as much as $200 with out paying an overdraft payment. SpotMe additionally permits you to receives a commission as much as two days early with out dinging your credit score. 

Chime provides three completely different accounts: a Spending Account, a Financial savings Account, and a Credit score Builder account. You possibly can earn as much as 2% APY on a Chime Financial savings Account stability with out paying a month-to-month payment. Withdrawals from the 38,000 ATMs are free and also you’ll be a part of 12 million account holders who use Chime day-after-day. 

6. Present

If you happen to’re trying to keep away from financial institution charges, try Present. This Neobank provides a checking account and not using a month-to-month payment or minimal stability requirement.

Plus, you’ll be able to earn money again on each debit card buy you make. Most retailers vary wherever from two to 5 instances your factors, however some shops earn you as much as 15 instances factors in your purchases. 

Present is an NYC-based Neobank with over 4 million account holders. You possibly can select from two checking accounts primarily based on what you want: a excessive curiosity account and an account geared in the direction of teenagers and their dad and mom.

The Teen Account permits dad and mom to set pointers and switch cash into the account without cost, with the choice to dam choose retailers, ship allowances, and set spending limits. Teenagers will obtain their very own Present card, along with cash administration instruments to get them began on the suitable path.



Present is a cell banking app with a Visa debit card that will get you paid as much as two days sooner with direct deposit and provides you free overdraft as much as $200 with no hidden charges. Earn as much as 15x factors on purchases which might be redeemable for money again, 55,000 fee-free in-network ATMs, and on the spot fuel maintain refunds.

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Associated: 10 Greatest Debit Playing cards for Children

7. LendingClub 

Open a checking and/or financial savings account with LendingClub to earn 0.15% APY on checking and three.6% on high-yield financial savings accounts. You’ll solely ever pay $10 most per thirty days for an account, which joins three million different accounts to make up the LendingClub buyer base. 

This member-FDIC Massachusetts-based financial institution began as a peer-to-peer lender however turned a NeoBank in 2020. Each enterprise and private finance prospects will discover LendingClub helpful for the providers it provides, from money again to limitless ATM withdrawals. If you happen to’d wish to study extra about LendingClub, give our full evaluation a peek. 

8. Lili

Lili is called one of many finest banks for freelancers, particularly given it caps its month-to-month charges at $5. You possibly can earn as much as 1% APY on financial savings with Lili, which mixes your small business and private accounts into one. All you must do to maintain all the pieces categorized is swipe the expense to the right account.

In the case of financial savings, Lili permits you to put a sum right into a tax bucket robotically. It’ll additionally generate expense experiences so that you can make tax submitting simpler. There are two tiers to the Lili accounts: Customary, which is free, and Professional, which is $4.99 per thirty days.

The Professional model permits you to earn money again and the complete 1% whilst you additionally get entry to an invoicing function that permits you to settle for funds beneath $1,000. 

Lili Financial institution Account


Keep in management. Save on taxes. No account charges and no minimal stability. By combining banking with accounting software program and expertise to optimize tax legal responsibility, Lili is designed to avoid wasting time, cash and power for anybody who runs a enterprise on their very own.

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9. Monzo

This UK-based Neobank is within the works of launching their firm within the American theater. Each checking and financial savings accounts can be found, together with FDIC insurance coverage as much as $250,000. M

onzo permits you to withdraw from over 38,000 ATMs without cost and not using a single month-to-month payment. You may also arrange budgets and alerts to maintain you on observe. Plus, there aren’t any minimal balances to fret about. 

10. NorthOne 

A single supply of enterprise checking, NorthOne is a medium-sized NeoBank that serves over 190,000 account holders. Based mostly out of New York, NorthOne works with freelancers, startups, and small enterprise house owners for a flat $10 month-to-month payment.

With a single plan, it’s straightforward to navigate clear pricing with out having to fret about paying extra for premium providers. 

NorthOne includes a user-friendly cell app that allows you to save for taxes through the use of sub-accounts often called Envelopes. Stash cash in these Envelopes just like the strategy sharing the identical title to attain your budgeting objectives.

NorthOne has rapidly gained a fame as one of many finest nationwide banks, albeit and not using a free enterprise checking account. All the identical, $10 per thirty days is inexpensive. 

Get $20 welcome bonus

NorthOne Enterprise Banking


NorthOne provides a wide range of on-line and digital instruments to handle your small business banking. Open an account in as little as 3 minutes. Be part of now with no commitments, no minimal stability, cancel anytime.

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11. Oxygen 

Select between free thinkers and pioneers accounts from Oxygen, a NeoBank that provides each checking and financial savings accounts to over 125,000 customers. These accounts mean you can earn as much as 1% APY and not using a month-to-month payment, along with a scarcity of charges for overdrafts or ACH transfers. Annual charges can vary as excessive as $200 for some accounts, however you’ll must inquire for specifics. 

Along with providing these accounts, Oxygen additionally permits you to flag bills. You may also deposit money at any GreenDot location. Plus, there’s an opportunity to earn money again and receives a commission as much as two days early.  

12. Qube Cash 

Open a Qube Cash checking account to make use of the digital envelope system within the type of Qubes. This cashless NeoBank was launched in early 2021 and features a cell checking account and budgeting app.

If you happen to’d wish to study extra about Qube Cash, proceed your studying to see what this NeoBank has to supply.  

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Qube Cash

Qube Cash provides inexpensive charges (together with a free primary plan for particular person customers) and a bunch of helpful options, which makes downloading this app a no brainer. Budgeting doesn’t must be difficult or disagreeable with this new budgeting app.

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Qube Cash Overview

13. Revolut

Checking, financial savings, and cryptocurrency accounts are all out there via Revolut. This NeoBank provides 1.2% APY curiosity on their financial savings accounts. Although Revolut is a UK-based firm, it’s slowly increasing to incorporate over 150 nations. That is in all probability why there aren’t any charges for exchanging currencies. 

Over 15 million folks use Revolut after they journey overseas. Month-to-month charges cap out at $17 relying on circumstances. Clients also can use Revolut’s Vaults to economize and earn money again. Plus, you may as well purchase and promote cryptocurrency and shares. The Junior Revolut account is finest for youths ages seven to 17. 



Revolut provides a pay as you go card for spending, together with “financial savings vaults” that may earn curiosity in addition to bonus cash. Plus you’ll be able to ship and request cash with a faucet, break up payments simply with anybody in 200+ nations. From straightforward cash administration, to journey perks and investments. Open your account in a flash.

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14. Unifimoney 

There are a lot of issues a Unifimoney account can give you, from 0.2% APY on financial savings in addition to checking and funding accounts, bank cards, and the possibility to purchase and promote cryptocurrency. Plus, your month-to-month charges cap out at $10 and you may profit from the various cash administration instruments Unifimoney provides new prospects. 

Clients also can entry automobile insurance coverage, pupil mortgage refinancing, house loans and insurance coverage, and the possibility to purchase and promote valuable metals with Unifimoney. If you happen to’d wish to study extra about Unifimoney, try our in-depth evaluation

15. Varo

Varo began out as a companion firm to The Bancorp Financial institution, however as of 2020, it gained its independence. Varo account holders quantity within the hundreds of thousands and might earn as much as 5% APY on financial savings balances with out paying a month-to-month payment. To earn this larger rate of interest as an alternative of the decrease 3% APY, you’ll have to maintain a stability above $5,000 via direct deposits of $1,000 or extra and keep a constructive stability till the top of the month. 

Varo additionally provides the Consider bank card, which is finest for individuals who have to construct credit score. This card doesn’t have a month-to-month payment or curiosity funds. When you open a Varo account and fund it with $500 in direct deposits inside 90 days, you’re eligible for this credit-building card. There’s no safety deposit required; as an alternative, funds for the purchases you make go on to a Varo Consider Secured Account to repay your month-to-month stability robotically, whereas being reported to the credit score bureaus to assist enhance your rating. 

16. Wealthfront 

This Neobank provides a money account with no month-to-month payment and superior budgeting instruments. Wealthfront brings $1 million in FDIC insurance coverage to account holders, with the choice to receives a commission as much as two days early.

The Wealthfront money account earns 0.10% APY and permits you to set financial savings classes for particular emergency funds. You may also pay payments with the included debit card. 


How is a Neobank completely different than a conventional financial institution?

Neobanks provide extra providers at a cheaper price than conventional banks as a result of they don’t have to fret about overhead. These banks additionally put time and effort into making the consumer expertise very good to draw prospects. 

Are Neobanks secure to financial institution with?

It’s necessary to do your due diligence relating to Neobanks. Whereas most of them are safe and established, selecting one which’s FDIC-insured may help you sleep at night time understanding your cash is secure. 

What do Neobanks provide that conventional banks don’t?

Neobanks provide a brand new kind of banking expertise for patrons. Quite than changing enterprise to a web-based platform or a cell app as conventional banks have executed, Neobanks begin contemporary with a brand new perspective. This enables them to supply a bundle of providers in a single place for lower than the competitor. 

Neobanks are the Manner of the Future

We hope you’ve discovered this text on Neobanks helpful in determining what they’re and the way they’ll make banking higher. Neobanks are an indication of a bigger shift towards a digital world, the place bodily branches and in-person banking are favored lower than fast and simple providers you’ll be able to entry out of your smartphone. We would not exist within the technological matrix of flicks previous, however the place Neobanks lead us stays to be seen. 


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