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Digital banks have revolutionized how Europeans manage their money. No more waiting in queues, no more limited banking hours, and no more excessive fees for basic services.
Today, you can open an account in minutes, send money internationally for a fraction of traditional costs, and manage everything from your smartphone.
But with so many digital banks competing for customers across Europe, choosing the right one can be confusing. Each offers different features, fee structures, and benefits.
This comprehensive guide reviews the best digital banks available in Europe in 2026, helping you find the perfect fit for your financial needs.
Disclaimer: This guide is for informational purposes only and does not constitute financial advice. Banking products, features, and fees change frequently. Always verify current information on official bank websites. Your deposits may be protected by deposit guarantee schemes up to certain limits — check specific protections for each provider.
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Table of Contents
- Why Choose a Digital Bank?
- What to Look for in a Digital Bank
- Best Digital Banks in Europe Overview
- Revolut: Best All-in-One Platform
- N26: Best for Simplicity
- Wise: Best for International Transfers
- Monzo: Best for Budgeting (UK)
- Bunq: Best for Sustainability
- Vivid Money: Best for Cashback
- Trade Republic: Best for Banking + Investing
- Fees Comparison
- How to Choose the Right Digital Bank
- Opening Your Account
- Frequently Asked Questions
1. Why Choose a Digital Bank?
Traditional banks have served Europeans for centuries, but digital banks offer compelling advantages for modern life.
Lower Fees
Digital banks operate without expensive branch networks, passing savings to customers. Many offer free accounts with no monthly fees, free domestic transfers, and significantly cheaper international transfers than traditional banks.
Convenience
Everything happens through your smartphone. Open an account in minutes without visiting a branch. Manage your money 24/7. Instant notifications keep you informed of every transaction. No more waiting for monthly statements to know your balance.
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Better Exchange Rates
Traditional banks often charge 2-4% markups on currency exchange. Digital banks typically offer rates close to the real exchange rate, saving significant money on international spending and transfers.
Modern Features
Digital banks pioneered features now expected by modern consumers. Instant spending notifications, easy budgeting tools, virtual cards for online shopping, and seamless international transfers are standard offerings.
Speed
Account opening takes minutes instead of days. Transfers often arrive instantly rather than taking several business days. Card replacements and support happen faster through app-based systems.
Innovation
Digital banks continuously add new features. Cryptocurrency trading, investment options, subscription management, and carbon footprint tracking are examples of innovations traditional banks are slow to adopt.
2. What to Look for in a Digital Bank
Not all digital banks are created equal. Consider these factors when choosing.
Account Types and Fees
Most digital banks offer free basic accounts with optional paid tiers for additional features. Consider which features you actually need. Free accounts often provide everything casual users require.
Card Options
Look at the card offerings including physical and virtual cards, card materials for premium tiers, Apple Pay and Google Pay support, and card controls like freezing and spending limits.
International Features
If you travel or send money abroad, prioritize banks with competitive exchange rates, low or no foreign transaction fees, multi-currency accounts, and international transfer capabilities.
Local Features
Ensure the bank supports features relevant to your country such as local payment methods, direct debits, standing orders, and salary deposits.
Security
Verify the bank is properly regulated and your deposits are protected. Look for two-factor authentication, biometric login, and card security features.
Customer Support
Digital banks vary in support quality. Consider whether in-app chat is available, response times, phone support availability, and support hours.
Integration
Some users value integration with other financial tools, accounting software, or investment platforms. Check if the bank connects with services you use.
3. Best Digital Banks in Europe Overview
| Bank | Best For | Free Account | Premium Cost | IBAN Country | Key Feature |
|---|---|---|---|---|---|
| Revolut | All-in-one banking | Yes | €8-€16/month | Lithuania | Multi-currency + crypto |
| N26 | Simplicity | Yes | €5-€17/month | Germany | Clean design |
| Wise | International transfers | Yes | N/A | Belgium | Real exchange rate |
| Monzo | Budgeting (UK) | Yes | £5-£15/month | UK | Spending insights |
| Bunq | Sustainability | €3/month | €9-€18/month | Netherlands | Green banking |
| Vivid Money | Cashback | Yes | €10/month | Germany | Up to 10% cashback |
| Trade Republic | Banking + investing | Yes | N/A | Germany | Integrated trading |
4. Revolut: Best All-in-One Platform
Revolut has grown from a travel card startup to a comprehensive financial platform serving over 40 million customers across Europe.
Company Background
Revolut launched in 2015 in the UK and has expanded aggressively across Europe. The company holds banking licenses in multiple jurisdictions, with European customers typically served through its Lithuanian banking license. Deposits are protected under Lithuanian deposit insurance up to €100,000.
Account Tiers
The Standard account is free and includes a physical card, fee-free spending up to €1,000 per month in foreign currencies, basic cryptocurrency access, and fee-free ATM withdrawals up to €200 per month.
The Plus plan costs €3 per month and adds virtual cards, enhanced customer support, and higher limits.
The Premium plan costs €8 per month and includes unlimited foreign exchange, travel insurance, airport lounge access discounts, higher ATM limits, and metal-style card.
The Metal plan costs €16 per month and includes all Premium features plus exclusive metal card, enhanced cashback, and highest limits.
The Ultra plan costs €45 per month and is the top tier with luxury benefits, extensive insurance, and premium partner perks.
Key Features
Multi-currency accounts allow you to hold and exchange over 30 currencies at competitive rates. Instant transfers between Revolut users are free. International transfers to bank accounts are affordable and fast.
Cryptocurrency trading is built into the app, allowing you to buy, sell, and hold popular cryptocurrencies. Stock trading is also available with commission-free trades up to monthly limits.
Budgeting tools include spending analytics, category breakdowns, and budget setting. Subscription management helps identify and cancel recurring payments.
Virtual cards provide additional security for online shopping. You can create disposable virtual cards that work once then expire.
Fees
The free account includes fee-free currency exchange up to €1,000 per month using the interbank rate, with a 0.5% fee above this limit. Weekend forex carries a 1% markup due to closed markets. ATM withdrawals are free up to €200 monthly, then 2% fee applies.
User Experience
Revolut’s app is feature-rich, modern, and regularly updated. The interface can feel busy given the many features, but organization is logical. Customer support is primarily through in-app chat, with response times varying by account tier.
Who Should Choose Revolut
Revolut is ideal for frequent travelers wanting multi-currency features, users seeking an all-in-one financial app, those interested in cryptocurrency and stock trading, and anyone wanting extensive features at competitive prices.
Availability
Revolut is available throughout the European Economic Area and beyond. Feature availability varies by country.
5. N26: Best for Simplicity
N26 offers a clean, straightforward banking experience focused on doing the basics exceptionally well.
Company Background
N26 launched in Germany in 2013 and holds a full German banking license. This means deposits are protected under German deposit insurance up to €100,000. The bank serves millions of customers across 24 European markets.
Account Tiers
The Standard account is free and includes a virtual Mastercard, free payments in any currency, three free ATM withdrawals per month in euros, and basic features.
N26 Smart costs €5 per month and adds a physical card with color choices, unlimited free ATM withdrawals in euros, and shared spaces for saving.
N26 You costs €10 per month and includes travel and purchase insurance, free ATM withdrawals worldwide, and a premium card.
N26 Metal costs €17 per month and includes all You features plus exclusive metal card, premium partner offers, and priority support.
Key Features
Spaces are sub-accounts for organizing money toward different goals. Create spaces for savings, holidays, emergencies, or any purpose. Rules can automatically sort incoming money into spaces.
Round-ups automatically round purchases to the nearest euro and save the difference. This effortless approach helps build savings over time.
Instant push notifications alert you immediately when your card is used, helping you track spending and catch unauthorized transactions quickly.
Free ATM withdrawals are included depending on your plan, with three free withdrawals on the free account and unlimited on paid plans.
Fees
N26 charges no fees for card payments in any currency, using the Mastercard exchange rate. ATM withdrawals beyond free allowances cost €2 each. International transfers are handled through Wise integration, charging Wise’s competitive rates.
User Experience
N26’s app is beautifully designed with a clean, minimalist interface. Features are easy to find and use. The simplicity is intentional, focusing on core banking rather than overwhelming with options. Customer support is available through app chat and email.
Who Should Choose N26
N26 is ideal for users who value simplicity and clean design, those who primarily need everyday banking, anyone who wants a proper German bank license behind their account, and users who prefer fewer features done well over many features done adequately.
Availability
N26 is available in 24 European countries including Germany, France, Spain, Italy, Netherlands, Austria, and others.
6. Wise: Best for International Transfers
Wise, formerly TransferWise, built its reputation on transparent international transfers and has expanded into a full multi-currency account.
Company Background
Wise launched in 2011 specifically to solve the problem of expensive international transfers. The company is publicly traded on the London Stock Exchange and is regulated in multiple jurisdictions. Wise holds customer funds in safeguarded accounts with major banks, providing protection similar to deposit insurance.
Account Structure
Wise offers a single account type with no monthly fees. All users access the same features, paying only for services they use.
Key Features
Multi-currency account is Wise’s core offering. Hold over 40 currencies, receive money like a local in multiple countries, and convert between currencies at the real mid-market rate. Get local bank details in USD, EUR, GBP, AUD, NZD, SGD, and more.
International transfers use the real exchange rate with low, transparent fees shown upfront. Transfers are often faster than traditional banks, with many routes completing within hours.
The Wise card works globally with automatic currency conversion at the real exchange rate. Spend in any currency without hidden fees. ATM withdrawals are free up to €200 per month.
Business features make Wise popular with freelancers and small businesses for receiving international payments and paying suppliers abroad.
Fees
There’s no monthly fee. Currency conversion uses the mid-market rate with a small transparent fee typically ranging from 0.35% to 1% depending on the currency pair. ATM withdrawals are free up to €200 monthly, then €0.50 plus 1.75% applies.
User Experience
The Wise app is functional and focused on transfers and multi-currency features. It’s not trying to be a lifestyle app like some competitors. Everything is straightforward and transparent, reflecting the company’s founding principles.
Who Should Choose Wise
Wise is ideal for freelancers and remote workers paid in foreign currencies, anyone regularly sending money internationally, expats maintaining finances in multiple countries, and users who value transparent pricing above all.
Availability
Wise is available throughout Europe and in many countries worldwide. Feature availability varies by country.
7. Monzo: Best for Budgeting (UK)
Monzo revolutionized UK banking and remains the leader for budgeting and money management features.
Company Background
Monzo launched in 2015 and holds a full UK banking license. Deposits are protected by the Financial Services Compensation Scheme up to £85,000. The bank has grown to serve millions of UK customers, with recent expansion to the US market.
Account Tiers
The Personal account is free and includes a hot coral debit card that became iconic, instant spending notifications, budgeting tools, fee-free spending abroad, and Pots for saving.
Monzo Plus costs £5 per month and adds virtual cards, credit score tracking, advanced budgeting features, interest on balances, and custom card colors.
Monzo Premium costs £15 per month and includes travel insurance, phone insurance, worldwide travel benefits, metal card, and priority support.
Key Features
Pots are separate spaces for organizing money. Create Pots for bills, savings, holidays, or any purpose. Lock Pots until a date to prevent impulsive spending. Round-ups can automatically add spare change to Pots.
Salary Sorting automatically distributes your paycheck into Pots when it arrives. Set percentages or amounts for bills, savings, and spending money.
Spending insights categorize every transaction, showing exactly where your money goes. Monthly summaries help identify patterns and opportunities to save.
Split bills with friends who also use Monzo, making shared expenses easy to manage.
Fees
The free account has no monthly fee and no fees for spending abroad. ATM withdrawals abroad are free up to £200 every 30 days, then 3% applies. Domestic ATM withdrawals are free.
User Experience
Monzo’s app set the standard for mobile banking design. It’s cheerful, intuitive, and genuinely helpful for managing money. The community forum provides additional support and feature requests often influence development.
Who Should Choose Monzo
Monzo is ideal for UK residents wanting the best budgeting tools, those who struggle to save and need helpful features, anyone wanting a beautiful, well-designed banking app, and users who appreciate community-driven development.
Availability
Monzo is primarily available in the UK. Limited US services exist but European expansion has not occurred.
8. Bunq: Best for Sustainability
Bunq differentiates itself through environmental focus, planting trees with spending and offering carbon footprint tracking.
Company Background
Bunq launched in the Netherlands in 2012 and holds a Dutch banking license. Deposits are protected under the Dutch deposit guarantee scheme up to €100,000. The bank has expanded across the EU while maintaining its environmental mission.
Account Tiers
Bunq does not offer a free account. The Easy Bank plan costs €3 per month and includes basic banking, one physical card, and tree planting.
Easy Money costs €9 per month and adds multiple cards, savings accounts, and international features.
Easy Green costs €18 per month and includes all features plus metal card, priority support, and enhanced sustainability features.
Key Features
Tree planting is Bunq’s signature feature. The bank plants a tree for every €100 spent on your card. Users have collectively planted millions of trees, making spending feel more positive.
Carbon footprint tracking estimates the environmental impact of your purchases. See how your spending affects the planet and get suggestions for reducing impact.
Multiple sub-accounts let you organize money like other digital banks. Create accounts for different purposes with their own IBANs.
Auto-save features include round-ups and automatic savings based on spending patterns.
Fees
All accounts require monthly fees starting at €3. Foreign currency spending uses Mastercard rates with no additional fee on higher plans. ATM withdrawals are free up to limits depending on plan, then fees apply.
User Experience
Bunq’s app is colorful and feature-rich. The sustainability focus is prominent throughout the interface. Features are extensive, though the app can feel complex compared to simpler competitors.
Who Should Choose Bunq
Bunq is ideal for environmentally-conscious users who want their banking to reflect their values, those willing to pay monthly fees for sustainability features, and users wanting extensive features and customization.
Availability
Bunq is available throughout the European Economic Area.
9. Vivid Money: Best for Cashback
Vivid Money offers some of the most generous cashback rewards among European digital banks.
Company Background
Vivid Money launched in Germany in 2020, making it one of the newer entrants. Banking services are provided through Solarisbank, a licensed German bank, with deposits protected up to €100,000 under German deposit insurance.
Account Tiers
The Standard account is free and includes a Visa card, basic cashback rewards, fee-free foreign spending, and stock and crypto trading access.
Vivid Prime costs €10 per month and includes enhanced cashback up to 10% at selected retailers, higher limits, premium card, and additional features.
Key Features
Cashback rewards are Vivid’s main attraction. The free account earns cashback on selected brands, while Prime users earn up to 10% cashback at rotating Super Brands. Cashback is paid in stocks rather than cash, adding an investment element.
Stock and crypto trading is built into the app with fractional share investing available. Cashback rewards automatically convert to fractional shares.
Pockets help organize money for different purposes. Create up to 15 pockets for savings goals or expense categories.
Metal card is included with the Prime subscription, giving a premium feel.
Fees
The free account has no monthly fee. Vivid uses the Visa exchange rate for foreign spending. ATM withdrawals are free up to €200 monthly, then fees apply. Prime subscription costs €10 monthly.
User Experience
Vivid’s app is modern and gamified, with the cashback system providing rewarding moments when shopping. The investment features are accessible for beginners. The interface is clean but feature-packed.
Who Should Choose Vivid Money
Vivid Money is ideal for users motivated by cashback rewards, those interested in starting to invest through spending rewards, anyone who shops frequently at cashback partner brands, and users wanting modern features at competitive prices.
Availability
Vivid Money is available in Germany, France, Spain, and Italy, with continuing expansion planned.
10. Trade Republic: Best for Banking + Investing
Trade Republic combines commission-free investing with banking features, creating a hybrid platform.
Company Background
Trade Republic launched in Germany in 2015 as an investment app and has added banking features. The company holds German licenses and deposits are protected up to €100,000 under German deposit insurance. It’s grown to serve millions of customers across Europe.
Banking Features
Trade Republic’s banking offering is newer but comprehensive. You receive a German IBAN for receiving salary and making payments. A Visa card allows spending worldwide. Savings earn interest with competitive rates, currently around 3.75% APY on uninvested cash.
Investment Features
Commission-free trading on stocks, ETFs, and derivatives is Trade Republic’s core strength. Savings plans allow automatic investing from €1. Cryptocurrency trading is also available.
Account Structure
There’s one account type with no monthly fee. Banking and investing are combined in a single app with no separation required.
Key Features
Interest on cash is a significant advantage. Uninvested money earns competitive interest, unlike most digital banks offering zero interest.
Savings plans let you automatically invest regularly in stocks or ETFs, building wealth over time with consistent contributions.
Fractional shares allow investing any amount in expensive stocks, making portfolio diversification accessible with small sums.
The Visa card works for everyday spending with no foreign transaction fees.
Fees
There’s no monthly fee. Stock and ETF trading incurs a €1 settlement fee per trade. Savings plans are completely free. Card spending has no fees. ATM withdrawals are free twice per month, then €1 each.
User Experience
The app is clean and focused, with banking and investing features clearly accessible. The interface prioritizes simplicity over extensive features. It’s designed for users who want straightforward banking plus easy investing.
Who Should Choose Trade Republic
Trade Republic is ideal for users wanting banking and investing in one place, those who want to earn interest on cash balances, anyone building long-term wealth through regular investing, and users who prefer German banking regulation.
Availability
Trade Republic is available in Germany, France, Netherlands, Belgium, Austria, Spain, Italy, Ireland, Portugal, Finland, and other European countries.
11. Fees Comparison
Understanding fee structures helps you choose the most cost-effective bank for your usage patterns.
| Bank | Monthly Fee | Foreign Spending | ATM (Foreign) | Int’l Transfers |
|---|---|---|---|---|
| Revolut (Free) | €0 | Free up to €1k/month | €200 free, then 2% | Low fees |
| N26 (Free) | €0 | Free | 3 free, then €2 | Via Wise |
| Wise | €0 | Real rate + small fee | €200 free, then 1.75% | Best rates |
| Monzo (Free) | £0 | Free | £200 free, then 3% | Via Wise |
| Bunq (Easy) | €3 | Mastercard rate | Varies by plan | Included |
| Vivid (Free) | €0 | Visa rate | €200 free, then fee | Standard rates |
| Trade Republic | €0 | No forex fee | 2 free, then €1 | Limited |
Key Takeaways
For minimal fees overall, Wise and Trade Republic offer the lowest ongoing costs.
For foreign spending, Wise provides the real exchange rate. Revolut offers free foreign exchange up to limits. N26 and Monzo charge no fees using card network rates.
For ATM withdrawals abroad, most banks offer free withdrawals up to €200 monthly. Heavy cash users should check specific limits and fees.
For international transfers, Wise consistently offers the best rates. Revolut is competitive. N26 and Monzo integrate Wise for transfers.
12. How to Choose the Right Digital Bank
With many excellent options, here’s how to select the right bank for your needs.
If You Travel Frequently
Choose Revolut for comprehensive multi-currency features, or Wise for the best exchange rates. Both excel for international spending.
If You Want Simple Banking
Choose N26 for clean design and straightforward features, or Monzo if you’re in the UK and want excellent budgeting tools.
If You Send Money Internationally
Choose Wise for the best rates and most transparent pricing on international transfers.
If You Care About Sustainability
Choose Bunq for tree planting and carbon footprint tracking integrated into your banking.
If You Want Cashback Rewards
Choose Vivid Money for generous cashback rewards paid in stocks.
If You Want Banking Plus Investing
Choose Trade Republic for integrated banking and commission-free investing with interest on cash.
If You Want Everything in One App
Choose Revolut for the widest range of features including multi-currency, crypto, stocks, and more.
13. Opening Your Account
Getting started with a digital bank is quick and straightforward.
Step 1: Download the App
Download your chosen bank’s app from the App Store or Google Play Store. Ensure you’re downloading the official app.
Step 2: Start Registration
Open the app and begin the sign-up process. You’ll enter your email address, phone number, personal information including name and date of birth, and residential address.
Step 3: Verify Your Identity
Digital banks are required to verify customer identities. This typically involves taking a photo of your ID document such as passport or national ID card, taking a selfie or video for facial verification, and sometimes answering security questions.
The verification process usually takes minutes, though some applications may require manual review.
Step 4: Wait for Approval
Most applications are approved instantly or within hours. You’ll receive notification when your account is ready. Some applications may take a few days if additional verification is needed.
Step 5: Add Money
Fund your account through bank transfer from an existing account, card deposit if supported, or cash deposit at supported locations if available.
Step 6: Receive Your Card
Physical cards typically arrive within 5-10 business days. Virtual cards are usually available immediately for online purchases and mobile payments.
Step 7: Set Up Security
Configure security features including PIN for your card, app passcode or biometric login, two-factor authentication if offered, and transaction notifications.
14. Frequently Asked Questions
Are digital banks safe?
Reputable digital banks are regulated by financial authorities and protect deposits through guarantee schemes. In Europe, most deposits are protected up to €100,000 under the relevant country’s deposit guarantee scheme. Always verify a bank’s regulatory status before opening an account.
Can I use a digital bank as my main account?
Yes, digital banks support salary deposits, direct debits, standing orders, and all features needed for primary banking. Many Europeans now use digital banks as their main accounts.
What happens if the app stops working?
Digital banks typically have web versions for account access. Card payments continue working regardless of app issues. Banks maintain customer service channels for problems. However, relying entirely on one bank carries some risk, so some users maintain backup accounts.
Can I deposit cash?
Most digital banks don’t have physical branches for cash deposits. Some offer workarounds such as cash deposit retailers or partner networks. If cash deposits are important to you, check specific options for your chosen bank.
How does customer support work?
Digital banks primarily offer support through in-app chat. Some provide phone support, especially for premium account holders. Response times vary, with some banks offering 24/7 support and others having limited hours.
Can I have accounts with multiple digital banks?
Yes, you can open accounts with multiple banks. Many users maintain accounts with different banks for different purposes, such as one for travel and another for everyday spending.
Do digital banks offer loans and credit cards?
Some digital banks offer overdrafts, loans, or credit cards, but offerings vary significantly. If credit products are important, check specific bank offerings before opening an account.
What about joint accounts?
Joint account availability varies. Some digital banks offer joint accounts or shared spaces, while others only support individual accounts. Check specific bank offerings if you need shared access.
How do digital banks make money if accounts are free?
Digital banks generate revenue through premium subscription fees, interchange fees from card transactions, interest on loans and overdrafts, currency exchange fees above free limits, and interest earned on customer deposits.
Final Thoughts
Digital banks have transformed European banking, offering convenience, lower fees, and modern features that traditional banks struggle to match. The competition among providers benefits consumers with ever-improving services.
For most Europeans, Revolut offers the best combination of features for travelers and those wanting comprehensive financial tools. N26 provides the cleanest, simplest experience for everyday banking. Wise remains unbeatable for international transfers and multi-currency needs.
The best news is that opening accounts is free and quick with most providers. You can easily try multiple banks to find which suits your lifestyle best. Given the benefits over traditional banking, there’s little reason not to explore what digital banks offer.
Your money, your way, on your phone. That’s the promise of digital banking in 2026.
Resources
Regulatory Information
European Banking Authority provides information at eba.europa.eu. National regulators include BaFin in Germany at bafin.de, FCA in the UK at fca.org.uk, and DNB in the Netherlands at dnb.nl.
Deposit Protection
European deposit protection information is available through your national deposit guarantee scheme. Most EU countries protect deposits up to €100,000. UK FSCS protects up to £85,000.
Official Bank Websites
All banks mentioned can be found through their official websites by searching their names. Verify you’re on official sites before entering personal information.
Disclaimer
This guide provides general information about digital banking services and does not constitute financial advice.
Banking products, features, and fees change frequently. Always verify current information on official bank websites before opening accounts or making financial decisions.
Deposit protection varies by bank and jurisdiction. Verify the specific protections applicable to your chosen bank and country.
The author is not affiliated with any bank mentioned. This guide is provided for educational purposes only.
Last updated: 2026
Banking should work for you. Find a digital bank that fits your life and take control of your finances.
