Digital banks are making the new era for the marketplace not just in Europe, but we have to take a look at the biggest digital banks in the old continent.
The European digital bank sector is gaining many advantages in the last few years and increased the demand for their services. Digital banks are more flexible than traditionals finance institutions and at a global level, digital banks platforms are expected to increase to 11.2% (2021 to 2026).
This faster digital transformation in the banking industry has many circumstances, specially for the higher demand and the advances of smart mobiles and other digital services. So, we start talking here about the best and bigger digital banks in Europe.
Monzo
Founded in London in 2015, Monzo is one of the most popular and featured-rich digital banks in Europe. Now it is enabled for customers to create a full account in the UK, with total confort when using the smartphone.
Users can choose between a lot of variety accounts, including free and premium plans. All customers have access to loans and security options to save money. If you choose for a multiple-account, users can have access to credit cards and options to manage money.
Into the personal account on Monzo, also the user supports a physical debit card to pay accounts in the supermarket or in other presential stabelements.
Starling Bank
Starling Bank was one of the first digital banks founded in Europe, since 2014 launched the activities in the UK. The focus is on current and business products.
Headquartered in London, Starling Bank has the license and regulated bank, provides for any client a debit card and other options to create a business account.
Different from other digital banks, Starling Bank offers to childrens a possibility to join an account with family. Is very popular in the UK, with more than 370k customers and is a 100% digital bank for all services.
Holvi
Holvi is a european digital bank specially for freelancers, like self-employed. Exists to simplify the different aspects and helps freelancers to become entrepreneurs in a journey to collect earnings and doing payments easily.
Is simple to create a free account in Holvi, just the user needs to send a passport or national ID, before starting to use it to pay and receive money. Many benefits including a business card sponsored by Mastercard and good taxes for supporting all services of freelancers.
Revolut
Revolut has become very popular in Europe, especially for people who want to make investments in stocks. A secured broker-license for investing in the US market, enables people to make investments in long years.
Revolut and the Revolut Metal cards also gained traction to banking-customers. If you use the fully-metal card, all customers receive a cashback of 1% for transactions.
N26
Classified as insurtech operation and fintech, N26 is based in Berlin and provides an account without fees for simple operations, like receiving money and paying with a debit card.
Founded in 2013 and got the license in 2016, N26 has now more than seven millions customers in 25 countries, getting more than 280k positive references at Play Store and Apple Store.
Wise
Wise is a London based-fintech, created by an Estonian businessman Kristo Kaarmann in January of 2011. During the last ten years, Wise has become a very popular platform to transfer money, starting a duel with Western Union.
If the user wants other services, Wise has a free personal account to enjoy a lot of benefits. In addition, users can have access to a good quantity of ATMs from all around the world, if it is necessary to withdraw money during a trip. Wise works now with Apple Pay and Google Play.
BNext
Launched in 2017, BNext is a good idea for entrepreneurs based in Madrid. Now has more than 400k customers, a good number to compare with other startups, like Starling Bank, who have less customers in comparison.
In addition to other tradicional banks and finance services, BNext started to offer for their customers the choice to buy Bitcoin, Ethereum and cryptocurrencies in general. Many specialists think this is a good idea to gain more young people into the brand. The bank is also famous for not having fees in the policy.
Anytime
With the popular slogan “AT Anytime, you do not speak to robots”, this is the only digital bank in Europe without robots to help people with issues and possible issues.
Originally is a subsidiary of Orange Bank SA, providing personal and business accounts with the best fees. All customers have access to do payments in France, along with support during all the days, 24 hours. The banking platform has a special sector for entrepreneurs.
