What is a neo-bank?

Still called mobile banking, neo-banks are a reminder of how far we have come in terms of science and technology. From now on, to make financial transactions, you no longer need to go to a local bank. Everything is done online. One wonders how all this is possible, the answer is in the following.

The Neo Bank

A neo-bank is a digital bank accessible by phone from home. Thus, Neo banks come to make your life easier by simplifying all your financial transactions. Indeed, this new form of banks have for the most part no physical structures. Generally, they have no branch, no company, no ATM. From the creation to the customisation of your account, everything is done online.

Performing Financial Transactions

With today’s neo-banks, you can do all your transactions online. Most have bank cards for your purchases, online shopping, bill payments and many other banking transactions. All you have to do is choose the neo-bank that suits you, download the neo-bank’s app, sign up and do all your banking from your smartphone. The most common Neo banks are : N26, orange banks, hello banks, Nickel, Eko, Globe Trotter, Aumax and many others. The choice of the neo-bank that suits you is up to you even though you have to take into account its terms and conditions.

The Advantage of Neobanks

Unlike online banks, everything from setting up a neo-bank to getting a bank card is usually free. In special cases, a few euro cents are enough to create your neo-bank account. Another advantage of neo-banks is the relatively low international fees for various banking transactions. In addition, you can pay for anything you want with your neo-bank’s bank card.
Neo-banks are simply marvels of technological and scientific evolution. Everyone should have an account with a neo-bank for smooth financial transactions.