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Jump to a specific neobank or category:
- For credit and savings: Oportun
- For credit building: Dave
- Teen-friendly: Greenlight || Step
- Emerging: Bunq
- List of neobanks we've reviewed
Neobanks are financial technology — or fintech — companies that typically offer banking accounts through mobile apps and desktops with eye-catching features like low-cost credit or cash-back rewards. Some neobanks offer high-yield savings accounts, loans, credit cards or investing products, too.
Neobanks operate without branches and, since they lack bank charters, they partner with banks to provide accounts insured by the Federal Deposit Insurance Corp. All neobanks in this article have FDIC-insured accounts, but they have additional risks that banks don’t have. In addition, when neobanks handle investments or other nondeposit activity, not all accounts are FDIC-insured.
» Learn more: What is a neobank?
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Member FDIC
Forbright Bank Growth Savings 
APY
3.85%
Min. balance for APY
$0
Member FDIC
Varo Savings Account 
APY
5.00%
Min. balance for APY
$0
Member FDIC
E*TRADE Premium Savings 
APY
4.00% for 6mo
Min. balance for APY
$0
Our main list shows neobanks that NerdWallet hasn’t reviewed for its deposit accounts yet but that we find notable or promising (skip to our methodology for how we chose this list). The second list shows neobanks that we have reviewed, including some digital wallets like Cash App and Venmo, that can be considered neobanks based on similar features.
Neobanks: Their role, disadvantages and benefits
Fintech firms — that are also known as neobanks — have been around as alternatives to banks in the U.S. for more than a decade, beginning with the now-defunct Simple in 2009, long before the term “neobank” caught on. Enough time has passed where these banking challengers have transformed from outsiders to mainstream banking options. In 2026, nearly one in three U.S. banking customers considers a neobank as their primary banking relationship, according to a study by the global business consulting firm Simon-Kucher.
Did you know...
Neobanks differ from online banks, which are licensed banks with typically few or no physical locations. Online banks can either be standalone internet-based banks or divisions of traditional banks. Some online banks include Marcus by Goldman Sachs, Capital One and Ally. Neobanks face some disadvantages: Simon-Kucher estimates that profitability limits and a crowded marketplace may lead to consolidation down the road. About 20 U.S.-based neobanks, each with more than one million clients, are competing without much product differentiation, according to the same Simon-Kucher study. Plus, some once-innovative services like early direct deposit and free access to nationwide ATM networks such as Allpoint and MoneyPass have become commonplace among U.S. neobanks.
Since they aren’t banks, there’s also a more risky and less clear process for what happens when neobanks fail than when banks do. FDIC insurance only kicks in when a bank, such as a neobank’s partner bank, fails. If a neobank fails, there’s no guarantee that you’ll get your money back in a timely manner or have continuous access to your money.
» Learn more: 5 questions to ask before opening a neobank account
Despite challenges, the reasons why people use neobanks are clear. Neobanks have drawn in millions of consumers to their checking or savings accounts with lower costs and more technology-driven perks than traditional banks usually provide. In fact, neobanks were early adopters in offering early direct deposit and not charging overdraft fees. Some neobanks focus on underrepresented communities often overlooked by traditional banks as well.
Oportun
Oportun was founded in 2005 and primarily offers credit and savings products. It partners with Chase and other banks to provide FDIC insurance for its banking accounts. Customers who have a personal loan with Oportun get one free year of access to the Oportun savings account, which is designed to help customers with setting goals and increasing savings. The app analyzes spending habits from a linked external checking account as well. For customers who don’t have a personal loan, there is a free 30-day trial. The fee after any free trial is $5 per month.
For credit building
Dave
Dave launched in 2017 as a paycheck advance company and expanded to offer checking accounts that let you round up purchases and pocket the difference as savings. You can also get a small advance on your next paycheck without interest charges or a credit check. In addition to these savings and credit features, Dave provides budgeting that factors in upcoming bills and the ability to search for side jobs in its mobile app. There are no minimum balance requirements and no fees for overdrafts or for using ATMs within the nationwide MoneyPass network. There are fees for advances, which are offered as an emergency overdraft service. Dave partners with Evolve Bank & Trust to offer FDIC insurance to deposit customers. (Read our review of Dave’s paycheck advance service.)
» COMPARE: Best budgeting apps
Investor-friendly
Stash
Founded in 2015, Stash offers an online account for customers who want to shop with a debit card and also transfer funds into investments. Premium subscribers who shop at certain brands receive an additional perk: fractional shares of matching stock. The fintech charges subscription fees of either $3 or $12 a month, based on subscription level. Stash partners with Stride Bank N.A. to offer FDIC insurance for customer deposits. Note that investment balances aren't FDIC insured. (Read the Stash investing review.)
Acorns
The microinvesting firm Acorns, founded in 2012, expanded beyond its automated investing for hands-off investors into banking in 2018 with Acorns Checking. The main selling point is having one app for spending money and investing portions of each paycheck or debit card purchase. There’s a limited rewards program where certain purchases earn money that goes to your investment account. Acorns has three account packages with monthly fees ranging from $3 to $12, and Acorns Checking is available for all tiers. Acorns partners with Lincoln Savings Bank or NBKC Bank to offer its FDIC-insured banking account. (Read Acorns investing review.)
Albert
Albert started in 2016 as a money management app, and it launched a personalized banking service called Albert Cash in August 2021. Albert Cash is a banking account that earns cash back and includes the following benefits: no-interest cash advances of up to $1,000; integrated budgeting and savings tools; and an AI-powered, personalized insights and planner tool, called Genius, that helps customers invest and automate their savings. Albert partners with Sutton Bank and Stride Bank N.A. to provide banking services, and it partners with those two banks plus Wells Fargo to provide FDIC insurance on savings accounts.
Teen-friendly
Greenlight
Greenlight was founded in 2014 and the Greenlight card and app for kids launched in 2017. Greenlight offers family-friendly features, including options to create spending controls and notifications, connect chores to allowance and invest together. Cash back earned from spending goes to savings, which can earn a high rate depending on your subscription plan. The Greenlight app’s banking services are offered through its partnership with Community Federal Savings Bank. Greenlight doesn’t charge foreign transaction fees or ATM fees, but there is a monthly fee; the amount depends on the plan you choose. Greenlight also partners with some banks and credit unions to offer its products for free through those financial institutions.
Step
Step was founded in 2018 and bought by YouTube star Mr. Beast in 2026. The platform offers a variety of products and services that can help teens with their finances. It provides FDIC insurance on its deposits through its partner bank, Evolve Bank & Trust. Step’s savings account has a high interest rate if customers set up direct deposit and they deposit $500 or more per month, or pay a monthly fee of about $5. The app allows customers to round up their purchases to the nearest dollar to contribute to their savings account as well as set savings goals. Other features include the ability to get paid two days early and to earn rewards by spending. Step also helps teens build their credit and invest before they turn 18.
Migrant-friendly
Majority
Founded in 2019, Majority provides banking services through its app and in partnership with Axiom Bank, N.A. Majority doesn’t require a Social Security number for its checking account and debit card, and it offers features that are especially migrant-friendly: customer support in English and Spanish, international money transfers, unlimited free calls to about two dozen countries and low rates for calls to other countries through the Majority app. Direct deposits are federally insured and can be available up to two days early. Majority doesn’t charge overdraft fees or foreign transaction fees when using the debit card, but there is a $5.99 monthly fee.
Comun
The Latino-founded neobank Comun, which started in 2021, focuses its offering for the Latino community, including helping migrants better access financial services. Applicants can use a Social Security number, taxpayer identification number, foreign passport or other form of ID during sign-up. The spending account has no monthly fees or minimum balance requirements, and it enables domestic transfers to anyone with a Visa or Mastercard as well as international transfers embedded in the messaging app WhatsApp. Depositing cash is available at 1,500 ATMs at retailers such as Walgreens and CVS, which is far fewer than what some other neobanks provide. Comun partners with Community Federal Savings Bank to offer its banking services.
Emerging
Bunq
Founded in 2012, the Dutch digital banking firm Bunq plans to enter the U.S. after becoming one of the biggest neobanks in Europe — with the rare combination of having a European bank charter and being profitable. The U.S. account details haven’t been released on its website, but looking at Bunq’s European accounts, there are more than 50 mobile banking features, including the ability to budget, a Mastercard with the user's chosen name, joint savings accounts, and the ability to have multiple currencies in one place (the core feature of a multicurrency account). However, Bunq charges monthly fees on most of its spending accounts, and not all features are available for all accounts. In April 2023, the neobank announced that it had applied for a U.S. bank charter, but withdrew its application after a 301-day wait. In October 2025, the neobank got a U.S. broker-dealer license and months later reapplied for a bank license.
Methodology
We mostly considered neobanks (or fintech banking firms) that have the following: consumer spending and/or savings accounts with no or low monthly fees; clear and useful features that traditional banks don’t often provide; venture funding as a metric for industry interest; and search volume as a metric to gauge consumer interest. Our list focuses on neobanks that we don’t already review for their consumer deposit accounts on our website, followed by a list of neobanks we’ve covered with links to our reviews. In cases where we've reviewed a neobank for different financial offerings, we've typically included the review that focuses on consumer deposit accounts.
Neobanks we’ve reviewed
Standard (nonbank) neobanks
These are fintech firms that follow the trend of partnering with banks to offer FDIC-insured deposit accounts.
| Firm (select to read review) | Main perk | Partner bank(s) |
|---|---|---|
| High-yield savings. |
| |
See more information from ChimeChime says: "Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC." | Fee-free overdraft program. |
|
| Fee-free overdraft program. |
| |
| Business account with no monthly fees. | Sunrise Banks, N.A. | |
| Walmart's OnePay | Cash-back rewards at Walmart. | Coastal Community Bank. |
| Wire transfers without fees. |
| |
| Multicurrency account. |
| |
| Cash-back rewards. |
| |
| Multicurrency account. |
|
Digital wallets with banking services
These digital wallets, also known as peer-to-peer transfer apps, expanded into banking with debit cards and early direct deposit services. One note of caution: Not all types of balances at these digital wallets have FDIC insurance, such as in-app balances from sending money. Accounts associated with banking services such as debit cards or direct deposit or check deposit are FDIC insured at partner banks.
| Firm (select to read explainer) | Main perk (click to read review) | Partner bank |
|---|---|---|
| Synchrony Bank. | |
| Block's Cash App |
| Sutton Bank. |
| PayPal's Venmo |
| The Bancorp Bank N.A. |
Fintech firms with cash management accounts
Some nonbank fintech firms focus on brokerage or investment accounts while also offering a type of banking account called a cash management account. This account often combines features from checking, savings and/or investment accounts.
| Firm (select to read CMA review) | Main perk | Partner bank(s) |
|---|---|---|
| High-yield cash account. |
| |
| Cash-back rewards at eco-friendly merchants. |
| |
| High-yield cash account. |
|
Former neobanks that became online banks
Although not typical for neobanks, some end up getting bank charters to become banks themselves. They’re no longer neobanks, though they often share features closer to neobanks than online banks, many of which don’t offer checking accounts. See our reviews of these online banks:
