Neobank List

What is a Neobank?

A Neobank (often called a "challenger bank") is a fintech company that offers banking services exclusively online. Unlike traditional banks with physical branches, Neobanks operate via mobile apps and websites. This digital-first approach often allows them to offer lower fees, higher interest rates, and more modern features like early direct deposit and automated budgeting tools.

Banking vs Fintech

Most Neobanks are technology companies, not chartered banks. They partner with traditional, FDIC-insured banks to hold your money. This partnership model allows them to innovate on the user experience while ensuring your deposits are protected by government insurance (typically up to $250,000).

Common Features

• No Monthly Fees: Most neobanks offer free checking accounts.
• High Yield: Competitive APY rates on cash.
• Early Payday: Get your paycheck up to 2 days early.
• Crypto Integration: Buy and sell digital assets within the banking app.