The Largest Neobanks in the US

The Largest Neobanks in the US

The Largest Neobanks in the US

Online banking is seeing a new trend – neobanks. While they sound like something extraordinary, they are just standalone banks that operate online only. They don’t have a ‘big brother’ brick-and-mortar bank, like Bank of America or Chase.

Today, the United States has more neobanks than ever before as more fintech companies jump on board and more consumers get comfortable banking online.

A quick Google search will turn up thousands of neobanks, but here are the top performers in the U.S to help you choose.


Chime started in 2013 and is still going strong today. They are an FDIC-insured bank and their debit cards are backed by Visa. Chime was a pioneer in the no-fee checking account including no minimum balance requirement.

Chime offers access to direct deposit funds up to 2 days early and they have a 38,000+ ATM network.

Varo Bank

Varo advertises itself as a mission-driven bank. This 100% online bank provides clients with many benefits including early access to your direct deposits, no monthly fees, and FDIC insurance.

What sets Varo Bank apart from others is the automatic savings tool that sends money to your Varo Savings Account. With a higher APY and automatic transfers, you can meet your savings goals. They also offer access to human advisors based in the US should you have any questions or concerns.


N26 not only makes it easy to bank, but they also make it rewarding. The N26 debit card provides exclusive access to discounts and cashback on subscriptions. They also have free cash withdrawals at its 55,000 Allpoint ATM network.

Like most neobanks, they offer early access to your direct deposit funds. But you can also set up personalized goals with sub-accounts and track your progress to your goal in real-time.


Level knows that life happens and they make it easier than ever to bank without hefty fees and they even have your back during tough times. They offer a free cash advance of up to $500 when you have an emergency (no interest charged). Debit/credit card users earn 1.5 percent cashback on most purchases, and you get access to exclusive deals for Level customers at your favorite retailers.

Level charges no overdraft fees and provides early access to your direct deposit funds. Level pays higher APYs on deposits and has an ATM network of more than 2 million ATMs.

Check out the Top Neobanks Available to You

Before you use a neobank, make sure you know their qualifications. Check for FDIC insurance first. If the bank closes, your money will remain protected up to $250,000 per depositor. In other words, you won’t lose your money if the bank closes.

Neobanks make it more convenient than ever to bank. All transactions take place electronically or at an ATM. Before you sign on with a neobank, check their ATM network to make sure it’s within close distance to where you live or work so you avoid unnecessary ATM fees.