Best Neobanks and Online Banks in the US and UK

Choosing a bank is about more than a logo on a card. Rates, fees, deposit protection, digital tools and customer service all differ widely between traditional banks, online banks and fintech apps.

Our banking guides explain how different types of banks make money, how deposit insurance protects you and how to compare banks on the criteria that actually matter.

Neobanks and online banks compared

The most popular app-based banks and online banks in the United States and the United Kingdom, side by side: savings rates, fees, deposit protection, pros and cons. Rates are variable and many require conditions, which we list next to each rate.

Rates, fees and terms checked on October 1, 2026. They change often; always confirm with the provider before you sign up.

United States 9 banks compared

Neobanks and online banks compared: United States
Bank	Interest on savings	Monthly fee	Deposit protection	Best for	Pros	Cons
ChimeFintech app (not a bank)Official website (opens in a new tab)	Up to 3.75% APY0.75% standard; 2.75% with Chime+ ($200+ direct deposit); 3.75% with Chime Prime ($3,000+ direct deposits in 34 days). Effective October 2026.	$0	FDIC via The Bancorp Bank and Stride Bank	Fee-free everyday banking	No monthly fees or minimum balance SpotMe fee-free overdraft, starting at $20 and up to $200 for eligible members Paycheck up to two days early with direct deposit	Higher rates require regular direct deposits Chime is a fintech, not a bank; no branches Cash deposits at retailers can cost a fee
SoFiBank (SoFi Bank, N.A.)Official website (opens in a new tab)	Up to 3.30% APYWith direct deposit, $5,000+ in monthly deposits or SoFi Plus; 0.90% otherwise. 0.50% APY on checking. Temporary boosts for new members. Reported September 2026.	$0 (optional SoFi Plus $10/month)	FDIC up to $250,000; up to $3 million via its Insured Deposit Program	Savings, investing and loans in one app	Checking and savings with no account fees Extended FDIC coverage up to $3 million Paycheck up to two days early	Top rate needs direct deposit, monthly deposits or a paid plan No branches Cash deposits only via retail partners, for a fee
VaroBank (Varo Bank, N.A.)Official website (opens in a new tab)	Up to 3.75% APYOn balances up to $5,000 with $1,000+ monthly direct deposits and a positive balance in all Varo accounts; 1.00% on everything else. As of July 1, 2026.	$0	FDIC up to $250,000 (Varo is the bank)	Small balances and credit building	Nationally chartered bank since 2020 No monthly fees or minimum balance Credit-building and cash advance tools	Top rate only on the first $5,000 Requires $1,000+ in monthly direct deposits Cash advances charge fees
CurrentFintech app (not a bank)Official website (opens in a new tab)	Up to 4.00% APYWith $200+ in payroll direct deposits within 35 days, on up to $2,000 per Savings Pod ($6,000 total); 0.25% without direct deposit; balances above the cap earn 0%.	$0	FDIC via Choice Financial Group and Cross River Bank	Small emergency funds	High rate on small balances Fee-free overdraft with qualifying direct deposits Paycheck up to two days early	High rate only on the first $6,000; the rest earns 0% Requires payroll direct deposit Not a bank; app-only service
Revolut (US)Fintech app (no US bank charter)Official website (opens in a new tab)	3.50%–4.00% APYHigh Yield Account: 3.50% on Standard, 3.75% on Premium, 4.00% on Metal; other savings accounts 2.90%–3.10%. As of September 1, 2026.	$0, $9.99 or $16.99	FDIC via Cross River Bank (savings) and Lead Bank (card account)	Travel and multi-currency spending	Spend and exchange in many currencies Competitive rate even on the free plan Stocks and crypto in the same app	Best rates and perks need a paid plan No US banking license; support mainly via chat Fair-usage limits on currency exchange
Cash AppFintech app (not a bank)Official website (opens in a new tab)	Up to 3.50% APY3.50% with Cash App Green ($300+ monthly direct deposits or $500+ monthly card spending); 1.50% base rate with a Cash App Card. Published May 2026.	$0	FDIC via Wells Fargo Bank, N.A. (savings)	Sending money to friends	Instant payments to other Cash App users No monthly fees Higher savings rate with direct deposit or card use	Peer-to-peer payments are a common scam target and hard to reverse Low base savings rate Fewer banking features than a full bank
Ally BankOnline bankOfficial website (opens in a new tab)	3.10% APYOnline Savings Account, no minimum balance. As of October 1, 2026.	$0	FDIC up to $250,000	Straightforward high-yield savings	No monthly fees and no minimums Savings buckets for different goals Full bank with checking, CDs and investing	Rate below the top conditional offers No branches and no cash deposits Variable rate falls when the Fed cuts rates
Capital One 360Bank (Capital One, N.A.)Official website (opens in a new tab)	About 3.00%–3.10% APY360 Performance Savings, no minimum balance; reported at 3.00%–3.10% in late September and October 2026.	$0	FDIC up to $250,000	Online banking with some branch access	No fees or minimums Branches and Capital One Cafés in many areas Large fee-free ATM network	Rate lower than the best online offers Branches only in some regions Variable rate can change at any time
Wise (US)Money transfer service (not a bank)Official website (opens in a new tab)	Variable (opt-in)Optional interest on USD balances through program banks; the rate changes and is shown in the app.	$0 ($9 one-time card fee)	FDIC pass-through for USD in the interest program; other balances safeguarded	International transfers and spending	Mid-market exchange rate with transparent fees from 0.23% Hold and convert dozens of currencies Free ATM withdrawals up to $250 per month	Not a full bank: no loans or overdraft Conversion fees apply Interest rate is variable and not guaranteed

United Kingdom 6 banks compared

Neobanks and online banks compared: United Kingdom
Bank	Interest on savings	Monthly fee	Deposit protection	Best for	Pros	Cons
MonzoBank (UK licensed)Official website (opens in a new tab)	2.75%–3.50% AERInstant Access by plan: Free 2.75%, Extra 3.00%, Perks 3.25%, Max 3.50% (variable). 1-year fixed savings 4.70% AER.	£0 (paid plans £3, £9 or £19+)	FSCS up to £120,000	Everyday banking and budgeting	Excellent budgeting tools and instant notifications No Monzo fees on card spending abroad Get paid up to a day early	Best savings rates require a paid plan Fee-free cash withdrawals abroad are limited Support mostly in-app
Starling BankBank (UK licensed)Official website (opens in a new tab)	Easy Saver 4.00% AERIncludes a 1.50% fixed bonus; new customers get 5.00% for the first 6 months on up to £25,000; 2.50% above £25,000. 12-month Fixed Saver 4.20%.	£0	FSCS up to £120,000	A free all-round account with strong service	No monthly fee and no Starling fees abroad 24/7 UK-based customer support Spaces and Bills Manager for budgeting	Easy Saver rate includes a temporary bonus Requires a Starling current account to save Fewer investing features than some rivals
Revolut (UK)Bank (Revolut Bank UK, full licence since 2026)Official website (opens in a new tab)	2.90%–4.00% AERInstant Access by plan: Standard and Plus 2.90%, Premium 3.25%, Metal 3.40%, Ultra 4.00% (variable). Boosted rates for new customers at times.	£0–£55 (Plus £3.99, Premium £7.99, Metal £14.99, Ultra £55)	FSCS up to £120,000 on eligible deposits	Travel, currencies and an all-in-one app	Spend and transfer in many currencies Savings, investing and crypto in one app Full UK banking licence since March 2026	Higher rates and perks need paid plans Limits and fees on some currency exchanges Investments and crypto are not FSCS-protected
Chase UKBank (J.P. Morgan Europe Ltd)Official website (opens in a new tab)	4.50% AER for 12 monthsFor new customers opening a saver within 31 days: 2.25% standard variable rate plus a 2.25% fixed boost for 12 months, then 2.25%.	£0	FSCS up to £120,000	Cashback and introductory savings rate	2% cashback on groceries, restaurants, transport and fuel, up to £20 a month No fees on card spending abroad High introductory savings rate	Cashback needs 15+ monthly payments and £1,000+ in savers Boosted rate ends after 12 months App-only, no branches
KrooBank (UK licensed)Official website (opens in a new tab)	2.65% AERPaid on the current account balance up to £500,000 (variable); no separate savings account needed.	£0	FSCS up to £120,000	Interest on your everyday balance	Interest on the current account itself No foreign transaction fees No monthly fees	Rate lower than dedicated savings accounts Smaller bank with a narrower product range Fewer extras than larger rivals
Wise (UK)E-money institution (not a bank)Official website (opens in a new tab)	Fund-based interestOptional 'Interest' feature invests your balance in money market funds; returns vary and capital is at risk.	£0 (one-time card fee)	Money safeguarded, not FSCS-protected	Sending money abroad	Mid-market exchange rate with transparent fees Hold and convert dozens of currencies Fast international transfers	Not a bank: no FSCS deposit protection Interest feature is an investment, not a savings account Conversion fees apply

How to choose a neobank

Check the conditions behind the headline rate: direct deposit, balance caps or a paid plan.
Confirm deposit protection: a licensed bank or an FDIC partner bank in the US, FSCS protection in the UK.
Compare the fees you will really pay: ATM withdrawals, cash deposits, currency exchange.
Look at support options; app-only banks can be hard to reach when an account is frozen.
Keep your emergency fund where you can access it within a day or two.

APY = annual percentage yield (US). AER = annual equivalent rate (UK). All rates are variable unless stated and can change at any time.
Fintech apps are not banks; deposits are held at partner banks and FDIC insurance applies only if the partner bank fails and records are kept correctly.
FSCS protection rose from £85,000 to £120,000 per person, per authorised bank on December 1, 2025.
We have no affiliate or advertising relationship with any provider in this table. Links are not sponsored.

Sources: Chime savings disclosures, Varo savings account, Current, Ally Online Savings, Cash App savings rates, Finder: SoFi review (Sept. 2026), Monzo savings, Starling savings, Chase UK boosted saver, Kroo, FSCS deposit limit.

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