Best illimity alternatives

#1 alternative

HYPE

active

Banca Sella brand. Italian IBAN. FITD follows Sella. illimity sold its 50% in 2025.

4.6

Biella / Milan · ~1.5 million · Banca Sella group

7.1Solid

HYPE is a Banca Sella brand. Banca Sella bought illimity’s 50% in November 2025 and set a merger-by-incorporation for March 2026. The IBAN and FITD follow Sella, not a startup charter. If you already hold Sella, this is not a second €100k pot. isybank is Intesa. Different groups. Different caps.

Best for: Italy residents who want a Sella IBAN in a blue app and do not already sit at Sella for the cap.

Licence

Commercial brand of Banca Sella — FITD group

Protection

FITD up to €100,000 — HYPE is a Banca Sella brand, so do not double-count the cap with other Sella deposits

Monthly

Free SKU plus paid plans — confirm live

#2 alternative

isybank

active

Intesa Sanpaolo digital bank. FITD. Italian IBAN. Shared-group cap with Intesa.

4.5

Milan · Intesa digital arm · Intesa Sanpaolo

7.0Solid

isybank S.p.A. is Intesa Sanpaolo’s digital bank — the 2023 rebrand of Banca 5, itself ex Banca ITB. FITD. Italian IBAN. Intesa spent hundreds of millions and annoyed branch customers by moving them. HYPE is Sella. Fineco is Fineco. This is Intesa in a light-blue coat. Shared cap.

Best for: Italy residents who want Intesa FITD in a new app and do not already sit at Intesa for the cap.

Licence

Italian bank — isybank S.p.A., Intesa Sanpaolo group (ex Banca 5 / Banca ITB)

Protection

FITD up to €100,000 — Intesa Sanpaolo group. Do not double-count with an Intesa current account.

Monthly

Plan-priced — confirm live

#3 alternative

Banca Widiba

active

Montepaschi’s digital and advice bank. Banca d’Italia / ECB. FITD. Italian IBAN.

Milan · MPS digital + advisor network · Montepaschi group

7.0Solid

Banca Widiba S.p.A. is the digital and financial-advisory bank of the Montepaschi group. Banca d’Italia / ECB. FITD consortium member. An Italian IBAN at a bank. N26 is a German IBAN. Different objects. If you already hold Montepaschi, treat the FITD cap as a group question.

Best for: Italy residents who want a bank IBAN plus an advisor, not a Lithuanian EMI.

Licence

Credit institution — Banca Widiba S.p.A. (Wise Dialog Bank)

Protection

Italian FITD up to €100,000 per depositor per bank — MPS group, so do not assume a second cap next to a Montepaschi salary account

Monthly

Account packs — confirm live

#4 alternative

N26

active

German bank account with a Mastercard, built as a phone.

4.5

Berlin · 8M+ · ~$1.8B raised

7.8Solid

If you need a German/SEPA current account, N26 is still the reference neobank. Score it as a bank, not as a travel card. Revolut and Wise beat it the moment you leave the euro.

Best for: Euro-zone residents who want a real German bank IBAN in a clean app.

Licence

Credit institution (CRR bank)

Protection

German statutory scheme up to €100,000

Monthly

Free Standard · Smart/You/Metal paid

#5 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

#6 alternative

Brex

active

US start-up cards and spend. Not a bank, on purpose.

3.9

San Francisco · Tens of thousands of firms · $1B+ raised historically

7.3Solid

Brex is a card and spend platform. Ramp is the rival. Mercury is the checking account you put underneath.

Best for: US start-ups that want Ramp-class cards with a slightly different religion.

Licence

Commercial card + treasury partners

Protection

Treasury/cash sits at partner banks or money-market — cards are credit/charge

Monthly

Card program; rewards-funded for eligible start-ups