Get Clued Up On The 5 Best Neo Banks Worth Checking Out Right Now

By Emma Edwards
25th Mar 2020

best neobanks

Extra time at home means now is the perfect time to sort out your finances once and for all. If you’re looking for a nifty new bank to stash your hard-earned cash, you’re in the right place. We’re sharing our top five digital banks—aka the most exciting new way to bank—to help you choose your financial weapon of choice.

Up Banking

You’ve probably seen UP’s peach and yellow debit cards all over social media in the last few months, and yeah, it’s aesthetic AF. But aside from being the accessory your wallet needs, UP’s features are pretty sweet too. Their app is packed with tools to help you up your banking game—get it? You can categorise your transactions, set goals and limits to keep your coffee consumption under control, and even see all your upcoming bills at a glance.

Numbers-wise, you can shop the globe with no nasty fees, and pay $0 monthly service fees. Plus, earn a tasty 2% interest rate on savings up to $50,000 when you make five-card transactions each month—no minimum deposit required. And even better, each person that signs up with the code URBAN10 will have $10 added to their new Up account. 

Apple Pay: Yes
Google Pay: Yes

84 400

86 400 puts you in the driver’s seat of your money. The clever app predicts your regular payments so you never miss a beat, connects to other financial institutions for easy viewing of all your finances, and you get a $10 bonus after your first transaction. Deposit at least $1000 a month and you’ll earn bonus interest on savings up to $100,000, all while paying $0 monthly fees.

Apple Pay: Yes
Google Pay: Yes


Pink eftpos cards...what more can we say. On top of brightening up your wallet, Xinja’s transaction account and Stash savings account are the ultimate toolkit to get you closer to your money goals. Always know where you’re at with your finances with easy spending trackers, and go global with free international transactions and ATM withdrawals. Savings wise, Xinja’s Stash account tops out at 2.25% interest on savings balances up to $245,000, with no minimum deposits or payments. Yowza.

Apple Pay: Yes
Google Pay: Yes

Volt Bank

Currently in Beta mode, Volt Bank is set to shake up the neobanking landscape. These guys are all about cutting the BS out of the banking industry, and creating a new normal where fees aren’t hidden and loyal customers are rewarded in the same way as new ones. Volt offers an interest rate of 1.9% on all balances, with absolutely no strings attached. No minimum deposits, no minimum number of transactions. Just clean cut savings on balances up to $245,000.

Apple Pay: Coming soon
Google Pay: Coming soon


Number crunchers, this one’s for you. Douugh uses personalised reports and its in-built AI assistant to send you up-to-the-minute reviews of your spending. See where your money’s going, when you’ve got spare cash, and identify trends in how you spend. Connect other apps for a holistic view of your finances, and set up savings ‘jars’ to compartmentalise your goals—and hit them faster. Douugh is currently taking waitlist sign ups ahead of their full launch.

Apple Pay: Yes
Google Pay: No

Alright, banking sorted. Now let’s fill those savings accounts with these hot ways to make money online. Quarantine – bring it on.

Emma is a finance blogger at The Broke Generation and a reformed spendaholic. She shares hot tips on saving, property, tax, career and investing for millennials who want to break the spending cycle and get on top of their money.

Image Credit: Santi Nunez 

Editor's note: Urban List editors independently select and write about stuff we love and think you'll like too. Urban List has affiliate partnerships, and we receive a referral fee for each customer that successfully signs up to Up banking using the above invite code or affiliate link. Only one invite code can be used per customer and codes cannot be used in conjunction with any other offer. Up reserves the right to stop this promotion at any time.

Get our top stories direct to your inbox.

Get our top stories direct to your inbox.

You May Also Like