The rise of neobanks has fundamentally shifted how consumers interact with their finances. By offering banking services entirely online or through mobile apps, these institutions have turned traditional banking on its head. With fewer overhead costs than legacy banks, neobanks can focus on customer experience, automation, and innovation to deliver services that cater to today’s digitally-savvy users.
Here are some of the top neobanks of 2025, each setting its own standards for how banking should work in the modern age.
1. Chime
Chime has grown into one of the most popular neobanks in the U.S. by focusing on offering free checking and savings accounts, no monthly fees, and no minimum balance requirements. It makes its mark with a smooth user interface and highly responsive customer support. Chime also offers automatic savings tools, like rounding up purchases to the nearest dollar and saving the difference.
2. N26
N26 brings a European flair to digital banking. It offers competitive features, such as zero foreign transaction fees, budget tracking tools, and insurance options. N26 stands out for its ability to provide personalized banking experiences with multiple account types, including its popular N26 Metal account, which offers perks such as travel insurance and lounge access.
3. Revolut
Revolut started as a currency exchange platform and quickly evolved into a fully functional neobank. Known for its global reach, Revolut makes international transactions seamless with multi-currency accounts and competitive exchange rates. It also offers crypto trading, stock investments, and budgeting tools, making it a top choice for those looking for more than just basic banking services.
4. Varo
Varo has positioned itself as a challenger to traditional banks by offering fully online banking with no hidden fees. It combines financial products such as high-yield savings accounts with innovative features like early direct deposit. Varo also makes its mark with an impressive mobile app that includes tools for managing subscriptions, tracking spending, and setting financial goals.
5. SoFi
SoFi has expanded beyond just offering banking services, delving into loans, investments, and insurance. It brings a broad range of financial services under one roof, with a user-friendly app and a wide range of tools designed to help users meet their financial goals. SoFi’s flagship features include a no-fee checking and savings account, financial planning advice, and access to a marketplace for refinancing student loans and mortgages.
6. Monzo
Monzo is another UK-based neobank making waves globally. It offers both personal and business accounts, with unique tools for budgeting, spending analysis, and saving. The app provides instant transaction notifications, easy bill splitting, and helpful visual charts to track your finances. With its transparent approach to banking fees and a focus on financial education, Monzo has built a loyal customer base.
7. Cash App
Originally launched as a peer-to-peer payment platform, Cash App has become a solid player in the neobank sector. It offers a range of services, including a debit card, direct deposit, and stock and cryptocurrency trading. What sets Cash App apart is its deep integration with mobile payments and its simplicity in letting users perform various financial tasks without switching between apps.
A New Era for Banking
The growing success of neobanks reflects a larger shift in the way people view their relationship with money. No longer bound by brick-and-mortar institutions, consumers now have access to digital platforms that prioritize convenience, cost efficiency, and personal control. As the competition intensifies among these next-generation banks, we can expect to see even more tailored services and features that enhance the financial lives of millions. The future of banking, it seems, is digital and personalized.