List of Neobanks
In Neobanking, innovative financial products are developed. They use apps and online platforms to support customers. It is very convenient to use and you are able to manage finances in your account through smartphone apps. Neobanks do not replace traditional banks for all customers. Neobanks target markets are freelancers, small business owners to make entrepreneurship more accessible to everyone and people looking to manage their money online easier and faster.
Here are a list of Neobanks that you can start partnering with in different countries:
Atom – is entirely app based and doesn’t have any physical branches. They offer fixed term saving accounts and mortgages. They also launched business loans currently available through a small panel of brokers. Atom is only available for UK residents.
Azlo – offer smart and hassle free digital tools including free business checking accounts that help entrepreneurs and freelancers spend less time managing their finances. Azlo product features are Invoicing,Payments and Instant Transfers,accounts have no fees and no minimum balance requirements. Azlo accounts are restricted to U.S citizens(permanent residents,temporary residents with select visa types).
Bnext – is the first Spanish Neobank,a pioneer as an alternative to traditional banks.
They offer two types of accounts, Standard account(a digital account for the day to day) and Premium Account(one has all the advantages).
Kakao Bank -It is a South Korean mobile-only bank established in January 2016 by a financial group Korea Investment Holdings and an internet platform company Kakao Corp. Users can easily transfer directly to bank accounts by selecting KakaoTalk friends. It has overseas remittance and low commission fees on international money transfers. Low interest rates on personal loans. It’s deposit product includes a safe box,piggy bank,safe deposit,meeting account and free savings.
NuBank – has a wide range of features from a free account with 0% maintenance fee and fully integrated international debit card, credit card and rewards. They also offer loans with a fair rate and no hidden charges. This digital bank is only available in Brazil.
Revolut – offfers money transfer service abroad in 27 currencies with the interbank exchange rate, with a small 0.5% fee for anything above A$9000 each month. Revolut launched in the UK offering money transfer and exchange.
Starling Bank – All of Starling’s accounts are protected up to £85,000 by the Financial Services Compensation Scheme. It is based in the United Kingdomcan but you can use your Starling card in more than 190 countries – anywhere you see the Mastercard logo, in fact! Unlike a lot of other banks, we don’t add fees or charges when you use your card overseas. It’s also free to withdraw cash from ATMs outside the UK.
Monzo Bank – Monzo Bank Limited is a company registered in England and Wales. When you use your Monzo card abroad (or online in a foreign currency), they pass on the Mastercard exchange rate, without adding any fees. You can use your Monzo card anywhere that supports Mastercard. The digital bank is only for UK residents only.
