Neobank
Discover the key benefits and practical details of glossary.
Neobank
Discover the key benefits and practical details of glossary.
Neobank
Discover the key benefits and practical details of glossary.
Table of contents
A neobank is a bank that exists entirely online. There’s no physical branch to visit, no paperwork to fill in, and no waiting in line. Everything happens in an app: opening an account, making payments, managing savings, and getting support.
The term blends “new” and “bank.” It describes a generation of digital-first financial institutions built around the way people actually use money today: on their phones, on the go, in real time.
How neobanks differ from traditional banks
Traditional banks were built for a world where you had to walk in and talk to someone. Branches, tellers, paper forms, these were the infrastructure of banking for decades.
Neobanks skip all of that. By operating entirely digitally, they offer faster account setup, lower fees, and features that can be updated continuously. Instead of visiting a branch to open an account, you can do it in minutes from your phone.
That doesn’t mean neobanks are a stripped-down version of banking. Most offer the same core services as traditional banks: savings accounts, debit cards, international transfers, and more. The difference is in how those services are delivered, and how quickly they can improve.
Are neobanks safe?
Yes. Regulated neobanks are subject to the same oversight as traditional banks. In the EU, that means holding a banking license and complying with strict financial regulation, including rules around capital, anti-money laundering, and customer protection.
bunq is a fully licensed European bank, regulated by De Nederlandsche Bank. Your eligible deposits are protected under the Dutch Deposit Guarantee Scheme, up to €100,000 per person. You get the same legal protections you’d expect from any licensed bank, delivered through a modern app.
What makes bunq a neobankbunq was built from scratch as a digital bank, which means every feature is designed with your phone in mind. You can open a Bank Account in minutes, set up multiple Savings Accounts for different goals, spend abroad with ZeroFX, and manage Joint Accounts with partners or housemates.
bunq also gives you tools traditional banks rarely offer: built-in Budgeting, instant payment notifications, and the flexibility to hold and spend in multiple currencies with Foreign Currency accounts.
There are no branches, no paperwork, and no unnecessary delays. Just a bank that works where you do.
Table of contents
A neobank is a bank that exists entirely online. There’s no physical branch to visit, no paperwork to fill in, and no waiting in line. Everything happens in an app: opening an account, making payments, managing savings, and getting support.
The term blends “new” and “bank.” It describes a generation of digital-first financial institutions built around the way people actually use money today: on their phones, on the go, in real time.
How neobanks differ from traditional banks
Traditional banks were built for a world where you had to walk in and talk to someone. Branches, tellers, paper forms, these were the infrastructure of banking for decades.
Neobanks skip all of that. By operating entirely digitally, they offer faster account setup, lower fees, and features that can be updated continuously. Instead of visiting a branch to open an account, you can do it in minutes from your phone.
That doesn’t mean neobanks are a stripped-down version of banking. Most offer the same core services as traditional banks: savings accounts, debit cards, international transfers, and more. The difference is in how those services are delivered, and how quickly they can improve.
Are neobanks safe?
Yes. Regulated neobanks are subject to the same oversight as traditional banks. In the EU, that means holding a banking license and complying with strict financial regulation, including rules around capital, anti-money laundering, and customer protection.
bunq is a fully licensed European bank, regulated by De Nederlandsche Bank. Your eligible deposits are protected under the Dutch Deposit Guarantee Scheme, up to €100,000 per person. You get the same legal protections you’d expect from any licensed bank, delivered through a modern app.
What makes bunq a neobankbunq was built from scratch as a digital bank, which means every feature is designed with your phone in mind. You can open a Bank Account in minutes, set up multiple Savings Accounts for different goals, spend abroad with ZeroFX, and manage Joint Accounts with partners or housemates.
bunq also gives you tools traditional banks rarely offer: built-in Budgeting, instant payment notifications, and the flexibility to hold and spend in multiple currencies with Foreign Currency accounts.
There are no branches, no paperwork, and no unnecessary delays. Just a bank that works where you do.
Table of contents
A neobank is a bank that exists entirely online. There’s no physical branch to visit, no paperwork to fill in, and no waiting in line. Everything happens in an app: opening an account, making payments, managing savings, and getting support.
The term blends “new” and “bank.” It describes a generation of digital-first financial institutions built around the way people actually use money today: on their phones, on the go, in real time.
How neobanks differ from traditional banks
Traditional banks were built for a world where you had to walk in and talk to someone. Branches, tellers, paper forms, these were the infrastructure of banking for decades.
Neobanks skip all of that. By operating entirely digitally, they offer faster account setup, lower fees, and features that can be updated continuously. Instead of visiting a branch to open an account, you can do it in minutes from your phone.
That doesn’t mean neobanks are a stripped-down version of banking. Most offer the same core services as traditional banks: savings accounts, debit cards, international transfers, and more. The difference is in how those services are delivered, and how quickly they can improve.
Are neobanks safe?
Yes. Regulated neobanks are subject to the same oversight as traditional banks. In the EU, that means holding a banking license and complying with strict financial regulation, including rules around capital, anti-money laundering, and customer protection.
bunq is a fully licensed European bank, regulated by De Nederlandsche Bank. Your eligible deposits are protected under the Dutch Deposit Guarantee Scheme, up to €100,000 per person. You get the same legal protections you’d expect from any licensed bank, delivered through a modern app.
What makes bunq a neobankbunq was built from scratch as a digital bank, which means every feature is designed with your phone in mind. You can open a Bank Account in minutes, set up multiple Savings Accounts for different goals, spend abroad with ZeroFX, and manage Joint Accounts with partners or housemates.
bunq also gives you tools traditional banks rarely offer: built-in Budgeting, instant payment notifications, and the flexibility to hold and spend in multiple currencies with Foreign Currency accounts.
There are no branches, no paperwork, and no unnecessary delays. Just a bank that works where you do.