Best Tonik alternatives

#1 alternative

Maya

active

Philippine digital bank and wallet that outgrew the e-money label.

4.4

Pasig · 50M+ · Voyager / public-era capital

7.2Solid

Label Maya Bank deposits as PDIC-eligible products and the wallet as EMI. That sentence is the review.

Best for: Philippine residents who want bank + wallet in one super-app.

Licence

Digital bank + EMI heritage

Protection

Maya Account (Maya Philippines, Inc.): not PDIC — ‘not a depository account’ (Maya.ph terms). Maya Bank, Inc. deposits: PDIC up to ₱1,000,000 per depositor (Maya Bank).

Monthly

Free wallet · bank products vary

#2 alternative

Wise

active

The mid-market FX rail everyone else is measured against.

4.7

London · 16M+ · Public (WISE)

8.6Strong

The control for cross-border. Pair with a licensed local bank for salary protection. Never describe Wise personal as a UK bank account.

Best for: Anyone who receives or sends money across borders for a living.

Licence

EMI (personal)

Protection

Safeguarded e-money at Wise Payments Limited — not FSCS. Wise’s own help: they do not lend customer balances; safeguarding is not a deposit-guarantee scheme. Local account details may sit at partner banks (US: Community Federal Savings Bank in some states).

Monthly

Free personal · Wise Business subscription optional

#3 alternative

Revolut

active

Digital bank and e-money app. Licence depends on the entity.

4.7

London · 50M+ · $1.7B raised · ~$45B val.

8.6Strong

The default comparison set for a reason. Treat the UK bank product and the e-money wallet as different legal objects, then Revolut wins most travel and multi-currency briefs. It is not the quietest home for a salary if you want a full-licence high-street feel — that is still Starling or Monzo in the UK.

Best for: People who live in more than one currency and want one app for spend, FX, and extras.

Licence

UK bank (eligible customers)

Protection

Eligible deposits at Revolut Bank UK Ltd: FSCS up to £120,000 per person (scheme cap from 1 Dec 2025; Revolut FSCS sheet). Revolut Ltd e-money is safeguarded, not FSCS (UK personal terms, 11 Dec 2025). New customers from 11 March 2026 may still be onboarded onto an EMI account with Revolut Ltd.

Monthly

Free · Plus/Premium/Metal/Ultra paid

#4 alternative

Yuh

active

Yuh is not a bank. Swissquote Bank Ltd is. esisuisse cover is CHF 100,000, shared.

Gland · Swiss all-in-one app · Swissquote (100% after July 2025)

7.6Solid

Yuh is not a bank. The English homepage says it in one paragraph: Swissquote Bank Ltd provides the banking, FINMA authorises that bank, and esisuisse cover is CHF 100,000 shared with Swissquote. July 2025 ended the PostFinance joint venture. If you already hold cash at Swissquote, do not count CHF 100,000 twice. Zak is Bank Cler. Neon sits at Hypothekarbank Lenzburg. Read those files separately.

Best for: People who live in Switzerland and want spend plus invest, and who accept Swissquote as the bank.

Licence

Fintech app — not a bank

Protection

Yuh itself is not a bank. Banking sits at Swissquote Bank Ltd, FINMA-authorised. esisuisse covers eligible deposits up to CHF 100,000. Yuh and Swissquote are one entity, so the cap is shared.

Monthly

No fees whenever possible — live list on yuh.com/en/pricing

#5 alternative

Chase UK

active

J.P. Morgan Europe Limited trading as Chase. UK bank, PRA/FCA, FSCS up to £120,000.

London · UK digital bank · JPMorgan Chase

7.6Solid

Chase UK is a bank. The legal name is J.P. Morgan Europe Limited. PRA-authorised, FCA-regulated, FSCS up to £120,000. It is a useful UK current account with honest travel spend. It is not Revolut’s multi-country stack and not a US Chase login. UK tax residents only.

Best for: UK residents who want a JPMorgan current account in an app, with FSCS, and cheap travel spend.

Licence

UK bank

Protection

FSCS up to £120,000 per depositor per bank (Chase UK FSCS page) at J.P. Morgan Europe Limited.

Monthly

£0

#6 alternative

Neo Financial

active

Calgary fintech. Not an OSFI bank. Eligible cash sits in trust at CDIC-member institutions.

Calgary · Canadian fintech · Private

6.8Mixed

Neo Financial is not a bank. Neo Financial Technologies Inc. is a Calgary fintech, a FINTRAC money-services business and a payments-Canada PSP. CDIC cover, when it applies, follows the member institution that holds the funds in trust — Peoples Bank of Canada is named on the HISA. File it as a Canadian app with a partner-bank deposit, not as EQ Bank.

Best for: Canadian residents who want the Neo app and will read which CDIC member holds the cash.

Licence

MSB and payment service provider

Protection

Neo is not a CDIC member. Eligible funds held in trust at CDIC-member institutions can be covered up to CAD $100,000 per beneficiary per member institution.

Monthly

$0 monthly on chequing, on the September 2026 agreement