neobankdb.com

GB · GBP

United Kingdom digital banks

The UK is the original challenger-bank market. Monzo, Starling, and Chase UK hold full UK bank licences, so eligible deposits are FSCS protected. Revolut spent years as an e-money institution and now operates a UK bank for eligible customers — the distinction still matters for the product you actually open. EMI wallets (Wise personal, many crypto cards) are safeguarded, not FSCS insured. If the copy says “protected” without naming FSCS or the authorised firm, treat it as marketing.

25Live on the desk

Regulator

PRA and FCA (Bank of England / FCA dual regime)

Deposit scheme

FSCS covers eligible deposits up to £85,000 per person per authorised firm

In this market

Licence still sits on the product
ProductScoreHQMonthlyFXUsersLicence
Interactive Brokers8.6Greenwich, United StatesNo inactivity on many accountsInstitutional-grade FX; a reason people open it3.3M accountsBroker-dealer / FCM
Wise8.6London, United KingdomFree personalMid-market plus a transparent conversion fee — the category benchmark16M+EMI (personal)
Revolut8.6London, United KingdomFreeFair-usage weekday mid-market; weekend markup on Standard50M+UK bank (eligible customers)
Airwallex8.3Singapore, SingaporeAccount often freeTransparent conversion + payment fees; typically beats banks150k businessesPayments / EMI-class licences by market
Starling Bank8.1London, United KingdomPersonal freeMastercard rate; no Starling markup on personal spend4M+UK bank
Monzo8.1London, United KingdomFreeFee-free FX up to plan caps, then a markup11M+UK bank
Kraken7.9San Francisco, United StatesMaker-takerTight on majors vs retail Coinbase13M+US MSB + exchange
Ramp7.8New York, United StatesSoftware + card; pricing by planFX on overseas card spend40k businessesCommercial card programme
N267.8Berlin, GermanyFree StandardFree on You/Metal; Standard has a weekend/FX fee schedule8M+Credit institution (CRR bank)
Qonto7.7Paris, FrancePaid plans from a small monthlySEPA is the home rail; FX on extras500k businessesPayment institution / EMI-class
bunq7.7Amsterdam, NetherlandsPaid plans (Easy Savings / Easy Bank / Easy Green / Easy Money)Plan-dependent; competitive on higher tiers15M+Credit institution
Exodus7.6Omaha, United StatesFree walletSwap partner spread4M+See review
Coinbase7.5San Francisco, United StatesFree to holdSpread on the retail app; Advanced is tighter100M+MSB + state money transmitter / trust
MetaMask7.4New York, United StatesFreeMetaMask Swaps aggregator fee100M+See review
eToro7.4Tel Aviv / London, United KingdomNo monthlyConversion on non-USD deposits35M+Broker
Wahed7.3New York, United StatesAUM fee on portfolios (live rate on site)Conversion inside the portfolio, not a Wise clone300k+Investment adviser / manager — confirm the local entity
GoHenry7.3London, United KingdomMonthly per child / family planOverseas spend fees2M familiesEMI / prepaid programme
Crypto.com7.2Singapore, SingaporeCard tiers gated by CRO stake (terms change — verify)FX on card + spread on crypto sell80M+Exchange + card programme by market
Kuda7.2Lagos, NigeriaFree core accountUSD card / FX desks are product- and availability-dependent7M+Digital / commercial bank licence
Wirex7.1London, United KingdomFree + paid X-trasCrypto sell + scheme FX6M+EMI (UK)
Atom bank7.1Durham / Newcastle, United Kingdom£0 on core savings SKUs — confirm liveNot a travel bankSavings-and-mortgage scaleUK bank — Atom bank plc
Gnosis Pay6.9Lisbon / remote, PortugalLow / usage-basedOn-chain to Visa conversionOn-chain usersCrypto card + EMI stack
Kestrl6.7London, United KingdomFreemium / subscription SKUs — confirm liveNot the pitchTens of thousandsApp + partner EMI/bank rails
Algbra6.5London, United KingdomConfirm live ethical-account tariffTransparent-fee pitch — still a spreadUK ethical-fintech scaleAuthorised EMI — Algbra FS UK Limited, FRN 952360
Beacon6.0Runcorn, United Kingdom£2 entrance + £1 minimum share — then CU tariffNot a travel productCommon-bond CUBeacon Credit Union Ltd, trading as Beacon Savings & Loans. Ex Halton Credit Union

Closed in this market

Graveyard
ProductScoreHQMonthlyFXUsersLicence
Zing6.7London, United KingdomWas free-ishWas the pitch vs high-streetClosedHSBC-backed
W1TTY5.2London, United Kingdom——ClosedEMI / payments
BlockFi4.5New Jersey, United States——BankruptLending / crypto (failed)
FTX5.2Nassau / Hong Kong, Bahamas——BankruptSee review
Celsius4.5New Jersey, United States——BankruptSee review

Do not open. Full file sits in the graveyard.

Questions

Is Revolut FSCS protected?+

Only balances in the Revolut UK bank account product, for eligible customers, at the authorised bank. E-money / “safeguarded” balances are a different legal regime. Check which entity your account is opened with.

EMI vs bank in the UK?+

A bank can take deposits and lend; FSCS may apply. An EMI issues e-money, must safeguard client funds, and is not covered by FSCS. Both can issue Visa/Mastercard plastic.

Other desks

IndonesiaPhilippinesBrazilFranceSwitzerlandGermanySingaporeUnited Arab EmiratesNigeriaCanadaAustraliaUnited StatesIndiaSpainPortugalMalaysiaGhanaBelgiumCzechiaHong KongFinlandMexicoItalyTurkeyUzbekistanSouth AfricaAlgeriaSaudi ArabiaBahrainPeru

Cross-check the scoring weights and the graveyard before you treat a leftover landing page as live.