Best Neobanks

Acorns covers many of your financial needs and makes the nickel-and-dime tasks seem more approachable. This neobank has a variety of savings products and tools all of which are designed to not only help you store your spare change but also invest it. You can even get cash-back rewards at select retailers. 

The management fees for small accounts can be on the expensive side, however, the automatic round-ups of Acorns makes saving and investing so easy it can be worth it. In today’s economy, where and how you save is important, and with Acorns you can really make every penny count. 

Betterment provides all the tools you need to start your investing journey, especially if you are starting to make big investments. Betterment’s robo-advisor guides you through picking an investment portfolio for each of your goals. If you don’t know exactly what to invest in, its algorithms can help match you to a diversified portfolio based on your goals and risk tolerance.

It also helps that Betterment’s Cash Reserve Account ranked as one of GOBankingRates’ Best High-Yield Savings Accounts of 2024 with a competitive APY and no fees or minimums.

Holding the twofold distinction of being ranked as one of GOBankingRates’ Best Neobanks in 2024 and the No. 1 most-loved banking app, Chime is all about delivering a smarter way to bank.

Some of the benefits of banking with Chime include no monthly fees, strong Annual Percentage Yields (APYs) to grow your money fast and secure and interest-free credit cards to help you build credit. This neobank also takes the security of your money seriously and is FDIC-insured to protect your funds so you can focus on building your wealth.

There’s now a seemingly endless crop of neobanks popping up, but Current distinguishes itself with its unique product offerings. For starters, it offers a crypto trading platform, which many other neobanks do not. Its checking product also stands out. Perks include no overdraft fees and accessing your paycheck up to two days early when you sign up for direct deposit. Current also makes it easy to earn cash back — you can earn up to 7x the points on purchases at thousands of participating merchants, which can be redeemed for cash back.

While Current is designed for those looking to build credit — and it’s a great option for that — you don’t need to be in credit-building mode to make use of the various offerings provided by this mobile-only bank option.

Yes, Dave offers your typical checking and savings accounts, but this neobank also helps you get money to put in these accounts and keep whatever money you do have safe. As soon as you open a Dave Spending account (their version of a checking account), you’ll get an ExtraCash advance bonus. You can also earn money by answering questions through Dave’s Surveys feature. Plus, you can get paid up to two days early, which can help you avoid overdraft fees. And, when you make purchases with the Dave Debit Mastercard, you’ll earn up to 15% cash back.

Meanwhile, Dave’s Goals account offers a pretty high APY. Although not the highest in the neobanks category, it’s still much higher than you would get at a traditional bank. Overall, Dave is a great option if you want access to an appealing sign-up bonus and built-in ways to earn money.

There are many reasons why GO2bank receives top honors as one of GOBankingRates’ Best Neobanks of 2024. Described as the ultimate mobile bank, GO2bank is the simple and smart way to bank. 

Those who bank with GO2bank enjoy the benefit of earning significantly more than the national savings rate average when they open a high-yield savings account and up to $200 in overdraft protection to back up your balance. Your money, and account information, is also always kept safe as GO2bank is Member FDIC, provides fraud alerts via text message and includes an easy card lock/unlock feature on every chip-enabled card.

One Finance almost acts like a credit card rewards program, with cash back earned on purchases of certain brands, round-ups where you save change on your purchases and the ability to get your paycheck two days early.

Consumers will approve of the high APY for eligible deposits, the lack of fees and minimum daily account balances and access to more than 55,000 ATMs. And, a special feature called ‘Pockets’ that lets you create a checking and savings account in one.

Revolut is an excellent choice for people who want the ability to bank, crypto and stock trade on the same platform. With three checking and savings account plans plus free crypto trading and the ability to buy and trade stocks through the app, it’s quite versatile. It also offers low-cost foreign exchange that works with 28 different currencies.

Revolut does things a little different than traditional checking and savings accounts, offering plans that include savings accounts but allow you to transfer funds like you would with a checking account. Plan holders can earn a decent APY on their savings funds.

As neobanks gain popularity, the competition heats up. Varo won in this category in part because of its no fees and competitive interest rates. 

The bank impressed us with its measures to serve the unbanked and underbanked populations. It may be the best online solution for those who can’t open a traditional checking account. The secured credit card, Varo Believe, is backed by your Varo Bank Account balance. The card has no fees, no interest charges and no hard credit check required to open an account. 

Varo also offers a cash advance of up to $500 for Varo Bank Account holders. Overall, the high interest rates combined with the convenience and a broad-based network of 55,000 fee-free ATMs makes Varo a top pick. 

With no monthly fees and no minimum deposit, Wealthfront earns the title as one of GOBankingRates’ Best Neobanks of 2024. The straightforward Cash Account delivers an extremely high APY with no limit to the withdrawals you can make monthly. 

But Wealthfront really stands out as an investment solution for those who want simplified savings plus hands-free investing all on one platform. Wealthfront offers individual stock accounts, bonds and automated investing, which you won’t find with many other neobanks. 

We love Wealthfront for its unique robo-advisors, which help you choose the best stocks, index funds and bonds to meet your financial goals. Funds are also FDIC-insured up to $8 million, which is well above the $250,000 most banks guarantee.