Iceland
activeFeaturedNeobankBusiness banking
- HQ
- London
- Fee
- Free personal
indó
Icelandic savings bank. TIF €100k. Not an Indonesian wallet and not an EMI.
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7.0Solid
AlternativesFive questions
At a glance
Is it a bank?
Yes — Savings bank — indó sparisjóður hf. (Central Bank of Iceland). Still read the entity on the statement.
If it fails?
TIF up to €100,000 per depositor per bank
Salary?
Not listed. An IBAN or sort code is not automatically a salary account.
Open from abroad?
Residency and KYC are gated. An App Store listing is not proof you can onboard.
Monthly fee
ISK 0 core pitch — confirm live
Account number
IBAN is part of the pitch — issuing country not stored.
NeoBankDB Verdict
Licence first · score second
7.0
/10 · Solid
indó sparisjóður hf. is an Icelandic savings bank. Central Bank of Iceland. TIF up to €100,000. Nóatún 17, Reykjavík. You need an Icelandic electronic ID, age 18, EEA residency. Directories spell it Indo and file it next to an Indonesian wallet. This desk will not.
What it is
Founded 2018, launched as a fee-allergic current account in a market of three large banks. Sustainability-index brag is marketing. The sparisjóður word is the review.
Best for: People with Icelandic electronic ID and EEA residency who want a TIF savings bank, not a travel wallet.
Last checked 2026-08-30. Not advice.
What it does well
- +Named Icelandic savings bank
- +TIF €100k
- +Fee honesty is the product
- +Not an EMI
What to watch
- −Iceland-resident / eID
- −Tiny market
- −Directories collide with Indonesia
- −Not a remote IBAN mill
Who holds the money
The account
How money actually moves
- Who holds the cash
- Bank balance
- How money moves
- IBAN / SEPA
- Built for
- Personal
- Settlement
- Local rails instant where live; SWIFT slower
- Freeze risk
- Bank-grade; still not freeze-proof
- Card
- indó lists a physical card and a virtual card on mastercard, plus Apple Pay and Google Pay. Confirm the live product in the app — a card is not a current account.
Licence first
Safety
TIF up to €100,000 per depositor per bank
Who holds the money: indó sparisjóður hf.
- Central Bank of IcelandSavings bank — indó sparisjóður hf. · Iceland
Fees
- Monthly
- ISK 0 core pitch — confirm live
- FX markup
- No FX-fee pitch — still an ISK bank
- ATM
- No card-fee pitch — confirm live
Features
- ✓IBAN
- –Fee-free core
- –Multi-currency
- ✓Apple Pay
- ✓Google Pay
- ✓Virtual card
- ✓Physical card
- –Metal card
- –Crypto
- –Stocks
- –Business
- –Kids
- –Halal
- Icelandic savings-bank current account
- TIF
- EEA residency + electronic ID
- No card-fee pitch
- Named sparisjóður
Score
- Safety25%
- 8.2
- Fees20%
- 8.4
- Features15%
- 6.4
- App15%
- 7.4
- Global15%
- 3.2
- Support10%
- 7.2
Change log
Full logLicence
indó sparisjóður hf. — TIF €100k
Icelandic savings bank. Not an Indonesian wallet. EEA + eID.
Available in
Straight answers
FAQ
01Is indó a bank?
indó holds a banking-style licence (Central Bank of Iceland). Still read the legal entity on the statement, not the app icon.
02How is money protected?
TIF up to €100,000 per depositor per bank
03Where is indó available?
We list 1 market on NeoBankDB. Residency and onboarding rules still sit with indó.
04Card and wallets?
indó lists a physical card and a virtual card on mastercard, plus Apple Pay and Google Pay. Confirm the live product in the app — a card is not a current account.
05Can I open indó remotely?
Residency and KYC are gated. An App Store listing is not proof you can onboard from your country.
Ratings and reviews
No published user reviews yet. The NeoBankDB score still comes from licence, fees, and the product — not from an empty star average.
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