European neobanks in 2026: 7 picks

Revolut's Standard plan costs €0 a month, the account is available in the 30 countries of the European Economic Area (EEA), and its European personal account is provided by a licensed bank. N26, bunq and Lunar are the alternatives with their own banking licence, while Wise and Qonto are not banks at all.

This ranking only covers providers that take personal or business customers in EU and EEA countries. For a wider view of the sector, see our ranking of the biggest European tech companies.

Key takeaways

• Revolut is listed first: open in the 30 EEA states, with a €0 Standard plan.
• At N26 and bunq, eligible deposits are protected up to €100,000. Payment institutions safeguard funds instead.
• Free plans still charge you: bunq's Free plan costs €2.99 per ATM withdrawal.
• Lunar only serves Denmark, Sweden and Norway, so availability differs widely between providers.

The seven neobanks at a glance

The list compares where you can open the account, what the no-monthly-fee plan costs, and who holds your money.

Sources:

The 7 European neobanks for 2026

1. Revolut: open in the 30 EEA states

Revolut's European personal account sits with Revolut Bank UAB, a Lithuanian bank authorised by the ECB and regulated by the Bank of Lithuania. Standard costs €0 a month in November 2026, and the account is available in the 30 EEA states. French customers are scheduled to migrate to a new French bank, Revolut Bank S.A., between 2 and 5 December 2026.

2. N26: German banking licence, €0 Standard plan

N26 Bank SE is a fully licensed German bank, and eligible deposits are protected up to €100,000 per customer. German plans in November 2026 cost €0 for Standard, €4.90 for Smart, €9.90 for Go and €16.90 for Metal. The account is open to residents of a list that includes Denmark, Finland, Norway and Sweden, with features varying by country. On 11 August 2026, N26 launched Wero in Germany and France, letting eligible customers send and receive instant payments with a phone number or email instead of an IBAN.

3. bunq: 27 EEA countries, Free plan at €0

bunq B.V. holds a Dutch banking licence from DNB, and eligible deposits fall under the Dutch Deposit Guarantee Scheme up to €100,000 per depositor. Personal accounts are open in 27 named EEA countries, with plans at €0 (Free), €3.99 (Core), €9.99 (Pro) and €18.99 (Elite) in November 2026. You can hold balances in 20 currencies and send in 47.

4. Lunar: Nordic bank, Light plan free

Lunar Bank A/S is a Danish licensed bank supervised by the Danish FSA, serving Denmark, Sweden and Norway. The Light plan is free in all three markets, and paid plans cost DKK 39, 79 and 149 in Denmark in November 2026. Danish customers can link a Lunar card to MobilePay, Swedish customers to Swish, and Norwegian customers top up with Vipps.

5. Wise: 40+ currencies, no monthly account fee

Wise Europe SA is an authorised Belgian payment institution, not a bank. There is no monthly account fee, you can hold more than 40 currencies, and conversion fees start from 0.23% on its US pricing page in November 2026. Wise sends euros through SEPA, the European payment network, and gives EUR account details. An IBAN is an account number used for European transfers. It does not issue localised French or German IBANs.

6. Trade Republic: current accounts in seven markets

Trade Republic Bank GmbH holds a full German banking licence, received from the ECB in December 2023 and supervised by BaFin. Newly onboarded customers in Germany, France, Austria, Spain, the Netherlands, Portugal and Italy get a current account with a Visa debit card.

7. Qonto: business accounts from €9 a month

Qonto SA is a French payment institution supervised by the ACPR, registration 16958, and not a bank. On its German pricing page in November 2026, Starter is €0 for freelancers and sole traders, and Basic starts at €9 a month excluding VAT. It serves businesses in France, Germany, Italy, Spain, Austria, Belgium, the Netherlands and Portugal.

What "free" really costs

A €0 plan is rarely free once you touch cash or another currency. The following fees apply in November 2026.

• Revolut Standard: up to €200 or five ATM withdrawals per rolling month, a €1,000 monthly currency allowance, and a 1% weekend exchange fee. A replacement card costs €6.
• N26 Standard in Germany: two free euro ATM withdrawals a month, then €2 each, plus 1.7% on non-euro withdrawals. The physical card costs €10 to order.
• bunq Free: no free withdrawals at all, at €2.99 per withdrawal, and the free card is digital only. Foreign-currency spending is covered up to €1,000 a year, then 1.5%.
• Lunar Light: 9 DKK per DKK or EUR withdrawal inside the EU, a 1% foreign-currency surcharge, and card delivery at 59 DKK, 79 SEK or 79 NOK.
• Wise in the EEA: two ATM withdrawals up to €200 a month free, then €0.50 each and 1.75% above €200.
• Trade Republic: €1 for ATM withdrawals under €100, nothing above, no extra conversion fee, and €5 for a Classic physical card.
• Qonto's One Mastercard: no free withdrawals, €2 each, and 2% added to non-euro card payments.

Bank licence or payment institution: how your money is protected

A licensed bank puts your eligible deposits under a national deposit guarantee scheme. N26 states protection up to €100,000 per customer under the German scheme, and bunq up to €100,000 per depositor under the Dutch one.

A payment institution is not a bank. Wise Europe SA safeguards customer funds separately in cash and low-risk liquid assets, and those balances are not covered by the Belgian Deposit Guarantee Scheme. Qonto also safeguards funds at partner banks and in qualified money-market funds, with the partner-bank part eligible for French FGDR protection up to €100,000 per institution and client. Trade Republic sits in between: cash at partner banks is covered up to €100,000 per customer and bank, while cash in liquidity funds is segregated instead.

Nordic availability

Lunar operates with a Danish banking licence and links to MobilePay, Swish and Vipps. Its app runs in Danish, Swedish, Norwegian Bokmål, Norwegian Nynorsk and English. On Lunar's paid Norwegian plans, the advertised savings rate is 4% up to NOK 1,000,000.

The pan-European options differ a lot up north. Revolut covers all 30 EEA states, and N26's country list includes Denmark, Finland, Norway and Sweden. Trade Republic's current accounts, by contrast, go to newly onboarded customers in Germany, France, Austria, Spain, the Netherlands, Portugal and Italy only.

The verdict

For most readers, Revolut is the better pick because it is open in all 30 EEA states. It also offers Standard at €0 and provides its European personal account through a licensed bank.

• Pick N26 if you want a plain euro account with a German banking licence, a €0 plan and free SEPA Instant transfers.
• Pick Lunar if you live in Denmark, Sweden or Norway and pay with MobilePay, Swish or Vipps.
• Pick Qonto if you run a business in one of its eight markets and want a local IBAN with SEPA Instant.

Frequently asked questions

Can I receive my salary and pay bills with a neobank account?

Yes, with the providers that give you a usable IBAN. Revolut supports incoming salary transfers, SEPA transfers and SEPA Instant, with euro direct debits depending on where you live. N26 supports salary by SEPA and direct debits, bunq supports both too, and Trade Republic does the same in its seven current-account markets. Wise supports euro direct debits, but not SEPA B2B direct debits.

Will an employer or biller refuse a foreign IBAN?

It can still happen. EU rules forbid specifying the member state of the account for covered euro credit transfers and direct debits, and the European Commission calls refusing another member state's IBAN IBAN discrimination. In practice, providers report that employers or merchants sometimes reject one or ask for extra paperwork. Local IBANs help: bunq lists them in seven countries, and N26 in Germany, France, Italy and Spain.

Which of these is cheapest for spending abroad?

It depends on the plan. Trade Republic applies no extra currency-conversion fee. Lunar charges a 1% card markup on Light and Standard, and 0% on Plus and Unlimited. Revolut Standard gives a €1,000 monthly currency allowance and adds a 1% exchange fee at weekends. Wise shows the fee upfront per currency pair, starting from 0.23% on its US pricing page in November 2026.

What do I need to open an account?

Identity checks are standard. EU anti-money-laundering rules require financial institutions to identify customers and verify them with documents or data from a reliable independent source. Providers add their own rules: Trade Republic asks that you be at least 18, permanently resident and tax-liable in the registration country, with a European mobile number and a SEPA bank account. A provider may also ask for proof of address.

Does everyone in the EU have a right to a bank account?

Consumers in the EU have a right to a basic payment account, whatever their place of residence or financial situation. That right does not force any particular neobank to accept you, and it does not cover every plan tier. Each provider sets its own supported countries and account rules, so country availability determines whether you can open an account.

Sources

• Revolut: Terms and conditions
• N26: N26 expands instant payment offer with Wero (11 August 2026)
• Lunar: What is Lunar?
• Trade Republic: Trade Republic Fact Sheet (December 2023)
• bunq: ATM withdrawals and deposits
• Wise: How Wise Europe SA safeguards customer funds
• Qonto: Pricing
• N26: Can I open an N26 account in my country?

Cover photo by Marga Santoso on Unsplash.