Best D360 Bank alternatives

#1 alternative

STC Bank

active

Ex-stc pay. SAMA digital bank. Same company numbers, new licence class.

Riyadh · stc pay base converting to bank · Saudi Telecom Company subsidiary

6.9Mixed

STC Bank’s own notice is the file: formerly Saudi Digital Payments Company, owner of stc pay, now licensed by SAMA to carry out digital banking. Same corporate registration numbers. SAMA no-objection to commence banking operations effective 28 January 2025. Directories that still say ‘stc pay e-wallet’ are describing the previous class. Barq remains an e-wallet. D360 is a digital bank built as a bank. STC Bank is a wallet that became a bank. During conversion, read which product you actually hold. Eligible deposits follow SAMA bank rules only on the bank product.

Best for: Existing stc pay users in Saudi Arabia whose balance is moving onto a SAMA digital bank.

Licence

Licensed digital bank (formerly Saudi Digital Payments Company / stc pay)

Protection

SAMA-licensed digital bank after the transformation from Saudi Digital Payments Company. Eligible bank deposits follow the kingdom’s bank scheme. The old e-wallet recovery story is not this file — read which product you still hold.

Monthly

Confirm live in the STC Bank app

#2 alternative

meem

active

Gulf International Bank digital brand. SAMA. Sharia-screened. Not a separate digital-bank licence.

4.4

Dhahran / Riyadh · GIB digital · Gulf International Bank

6.8Mixed

meem is Gulf International Bank’s digital brand in Saudi Arabia. SAMA. Sharia-compliant current and cards. Barq is a SAMA e-wallet. STC Pay is payments. This is a bank skin. Deposit protection, if it applies, follows GIB — confirm the live scheme sentence. Directories dump it next to a 2020 neobank. GIB is older than that.

Best for: Saudi residents who want GIB in an app and a Sharia-screened current, not STC Pay.

Licence

Digital brand of Gulf International Bank — Saudi Arabia. Not a separate SAMA digital-bank licence

Protection

SAMA bank-deposit protection follows Gulf International Bank as a licensed bank. meem is a brand — shared with other GIB deposits. Confirm the live scheme copy.

Monthly

Digital SKU — confirm live

#3 alternative

Barq

active

Riyadh SAMA e-wallet. Barraq Finance Company. Explicitly not a bank account.

Riyadh · 1M in 21 days at launch (claimed) · Private / SAMA e-wallet era

6.7Mixed

Barq is Barraq Finance Company, a SAMA e-wallet. Decision 26/M SM/1445. The privacy policy names a closed joint-stock company in Riyadh, not a bank. One million users in 21 days is a launch stat, not a balance-sheet. Keep salary at a SAMA bank. Use Barq as a wallet.

Best for: Saudi residents who want a licensed wallet and already keep salary at a SAMA bank.

Licence

E-wallet — Barraq Finance Company (Decision 26/M SM/1445). Not a bank

Protection

Not a SAMA bank deposit. SAMA e-wallet rules apply. Barq’s own copy says this is not a bank account.

Monthly

Wallet SKU — confirm live

#4 alternative

Kestrl is a habit layer. Keep a Monzo/Starling/high-street account for the actual deposit. Halal branding does not move FSCS.

Best for: UK Muslims who want a money app that speaks their constraints, with a real bank still underneath.

Licence

App + partner EMI/bank rails

Protection

If a spending account exists, it is partner-EMI or bank — not Kestrl-as-bank

Monthly

Freemium / subscription SKUs — confirm live

#5 alternative

Wahed is a screened robo, not a current account. Pair it with a real bank. Do not describe the cash sleeve as FSCS current-account money without reading the entity.

Best for: Muslims who want a screened portfolio without building one from a brokerage blank page.

Licence

Investment adviser / manager — confirm the local entity

Protection

Securities accounts, not a bank deposit scheme — SIPC/FSCS-class wrapping depends on entity

Monthly

AUM fee on portfolios (live rate on site)

#6 alternative

Found

active

US banking for the self-employed: taxes, invoices, and a debit card.

4.8

San Francisco · Self-employed base · Series-era (Allianz x others)

7.3Solid

Found is the freelancer current account. Novo is generic SMB. Relay is multi-entity ops.

Best for: US freelancers who hate QuickBooks more than they hate banks.

Licence

Fintech with partner banks

Protection

FDIC via Piermont Bank and partners

Monthly

Free core