Top 5 Online Banking Services
Compare top challenger banks & pick the ultimate banking experience!
Service |
Debit/Credit Card |
ATM Withdrawal Fee |
Score |
Key Features |
Open Account | ||
|---|---|---|---|---|---|---|---|
1  | N26 MasterCard  Free/ Delivery 3-7 days | Up to 5 free withdrawals |
98 | 3D Secure Mastercard-Apple & Google Pay™ Save up for a specific goal via sub-accounts |
VISIT SITE
5 min to open account | ||
2  | Monese Card  £4,95/ Delivery 3-8 days | €1 per withdrawal |
95 | Euro accounts - Fast SEPA payments Set up a in-app recurring/routine payments | |||
3  | Cashplus card  £5.95/ Delivery up to 10 days | £2/withdrawal (Limit of £150/day) |
92 | Good fit for small businesses Direct debits & standing orders | |||
4  | Monzo card  Free/ Delivery up to 7 days | Up to £200 – Free Over £200 – 3% |
88 | Instant notifications for transactions In-app freeze/unfreeze account (if Mastercard is lost) | |||
5  | Revolut card  £4.99/ Delivery up to 10 days | Free (up to £200/month) Over £200 – 2% |
84 | Built-in budgeting features for savings, payments etc. Instant exchange of 24 currencies into cryptocurrency | |||
Advertiser Disclosure
Latest Reviews
"Easy sign-up, easy banking, great app and great communication. Exchange rates/fees for payments in foreign currencies are also better than most conventional banks. Got nothing but positive things to say about N26."
Pros
- Handy and very user-oriented concept
- Solid and established partners with the world names
- Well-designed and friendly application
- Lots of unique & interesting features
- Free account and no/low fees
- Useful online FAQ support on their site
Cons
- Limited locations available at the moment and the overall focus on Europe in currency, partners etc.
- No face-to-face support
"I'm using Revolut card for all payments, exchange. I fully recommend it!"
Pros
- Option to hold and switch between multiple currencies
- Payment splitting tool is useful on a day-to-day basis
- Very good range of security features
- Debit (prepaid) cards manageable via the app
- Good exchange rates on international transfer
Cons
- Not fully licensed, so no FSCS protection.
- You can only withdraw £200 a month in cash
"Its a very nice bank ,a good experience on line, best treatment call center and an excellent information on time."
Pros
- You can manage both business and/or personal finances in one place
- In-app advanced budget features
- Competitive exchange rates for international transfers
- App available in 10 languages
- Monese offers UK banking services and accounts, even without a UK address
- You can transfer money from the UK to over 25 other countries
Cons
- You can only send pounds sterling to other countries
- Paywalls for certain privileges, extra benefits cost £4.95 per month
What’s important to know when comparing online banks
Online Banks or Mobile Banks is undoubtedly the hottest world trend in banking and finance in 2019. Don’t confuse it for online or mobile access to your regular bank account though: what we are looking at now is online/mobile ONLY banks which have their own features and bonuses.
What is online banking
It means that the customers get to have all the accustomed features, safety, regulation and service of the regular big banks, but in a modern, lightweight, and handy digital form-factor of a mobile application.
What to look for in an online bank
Safety. Despite operating fully online, most of the players in this niche are fully licensed and authorized as banks or financial institutions, meaning they meet the same requirements and fulfill the same highest standards as classic banks. Including the mandatory funds’ insurance. Choose authorized and insured companies only.
Efficiency. Top Online Banks choose not to reinvent the wheel, but rather outsource some services to the established experts. For example, despite being a relatively new service, N26 has established partnerships with the top-notch financial companies such as TransferWise (foreign exchange), Raisin (savings), Clark and Allianz (Insurance), Auxmoney (credit) and others, to be able to provide its customers with best & sterling products.
Usability. Many Online Banks will still provide you with a real international debit card, sometimes with free ATM withdrawals worldwide or within some region. It means that you can pay, withdraw money, block or unblock your card, set permissions or limits, and make other security changes — in other words, do everything you can do with a traditional bank, except easier & directly from the app or a desktop web-account. Look for features fitting your needs.
Fees and rates. Having a fully online business model means operating at a much lower cost than classic “bricks and mortar” banks. Thanks to huge savings on frugal organizational structures, no IT legacies and no expensive branch network, customers are getting outstanding value for their money by receiving higher interest rates and lower fees for transactions and account management. Choose the best cost-effective solution.
Accessibility. A fully online company doesn’t necessarily mean a small local business. For example, N26 is called one of the fastest growing banks in Europe and has more than 1 million customers across 17 European markets and over 430 employees. Choose a solid and established company.