Top Europe Online Banks
Revolut – Based out of London Revolut is one of the top Fintech companies. Their alternative to traditional banking includes peer-to-peer payments, a contactless card with up to 1% cashback, prepaid cards and it supports several cryptocurrencies. You can set up your Revolut Euro account in minutes; set up a monthly budget; get instant spending notifications and even buy insurance from your Revolut app. With Revolut you can set up recurring payments; freeze and unfreeze your card from the app and activate location-based security. You can make ATM withdrawals in 150 currencies and send funds in 26 currencies. Already with over 2 million users Revolut gets 6,000-8,000 new users each day. Revolut aims to provide a “fair and frictionless platform for use around the world.” Since 2017 Revolut has offered current accounts where customers have a personal IBAN and personal EUR IBANs.
N26 – N26 originated in Germany and was launched in the UK in November 2018; N26 announced plans to make its US debut at the Money2020 Conference. This digital-only bank offers customers all the traditional services including a checking account with debit card; cash withdrawals from ATMs; a rewards program and money transfers. The bank is marketed as the “bank for real people.” Features of the N26 banking app include providing spending insights; setting payment limits and locking your card via your phone. With N26 Euro account you can do all your transactions from your phone and make no-fee transactions from anywhere in the world. Sign-up is simple and N26 has a comprehensive support service. With over a million customers it is one of the fastest growing mobile banks in Europe.
Monzo – Monzo is a mobile-based Euro bank that started off in 2015 with just prepaid debit cards then expanded to offer current accounts. Today with over a million customers they are the fastest growing bank in the UK. Monzo markets itself as “a new kind of bank” and rightly so as it has features you don’t find at every bank. Monzo has integration with IFTTT allowing your apps and devices to work together with popular services like Alexa, Amazon and Uber. This British digital bank can provide customers with a real-time breakdown of spending, rapid money transfers and real-time notifications. Other features include Apple Pay; joint accounts; Investec; a gambling block function and bill sharing.
B – B was founded by the UK based Clydesdale Bank & Yorkshire Bank Group and focuses on personal banking. The services offered by B include interest on current accounts holding a balance of up to 2,000GBP; instant savings accounts; contactless debit cards and credit cards and a 2 day overdraft period. You can access B’s services through Apple Pay; Android Pay or Touch ID.
Fidor – Fidor is a customer-led digital bank with innovative financial products and services like crypto-trading; crowdfunding and one-minute bank transfers. This Germany-based online bank offers current accounts where the interest rate is determined by Facebook “Likes.” In addition, there is a “Smart Community” forum for users to discuss financial issues. Among the perks of using Fidor, there are low-cost SEPA fees and minimum interest rates.
First Direct – First Direct is UK-based; they have been around since 1989 and their services are comprehensive including loan applications online; investments and insurance bought online. With a First Direct account you can request free paper copies of statements; print up to 6 years of statements; pay bills; send money and set up standing orders all through a user-friendly interface.
HelloBank – The services offered by this Internet bank based in Belgium include loans; current and savings accounts; credit cards; brokerage services; pre-paid cards and insurance. They have accounts geared towards 18-27-year-olds and accounts for over 28-year-olds.
Loot – This UK-based digital banking app offers current accounts and a credit card with PFM-style savings goals. Loot offers personalized features to track your finances.
Starling – Starling is a UK-based mobile-only online bank offering an at-a-glance account overview; savings goals; real-time notifications when you spend or receive a payment and PRM tools. They pride themselves on tough security using Touch ID. Starling was voted the Best Business Banking Provider for 2019.
Monese – This UK bank focuses on current accounts; money transfers and prepaid debit cards. Monese supports GBP and Euro; gives service in 11 languages and is available in 20 nations. This online bank prides itself on quality service and has a straightforward application process. With Monese you can track your account activity in real-time; get instant notifications when money moves to or from your account; set budgets and get statements at any time.
In addition to those financial institutions, there are many more banks in Europe such as:
Santander Euro Account, Barclays Euro Account, HSBC Euro Account, Starling Euro Account