Key Takeaways

• Some neobanks similar to Revolut or N26 are bunq, Monese, Vivid Money, Sogexia, and Tomorrow Bank. 
• Bunq is a leading neobank in the EU operating in 30 markets on a mission to change the status quo of banking in Europe. Bunq users get five virtual cards as part of their Easy Money or Easy Green plans. Clients can purchase an additional five cards at €9.99 per month, for a maximum of 20 cards in 12 months.
• Monese is a digital bank providing mobile-only accounts with multiple currencies for users in the European Economic Area. The company launched in 2015 as the first mobile money service banking solution in the UK. Monese customers can apply for one virtual card for every currency account, with an existing physical card required for the application.
• Headquartered in Germany, Vivid Money is a fintech company offering customers across Europe a mobile bank app that helps them save and invest. Customers can create their virtual Vivid cards from the mobile app for free. Any extra cards attract a €1 charge, for a limit of three cards.

Introduction

Neobank #1: bunq

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• Website link: Bunq.com. 
• Bunq headquarters are in Amsterdam, The Netherlands. The neobank has operations in "the Netherlands, Germany, Austria, Italy, Spain, France, Belgium, Ireland, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, the United Kingdom, Norway, and Iceland."
• Bunq is a leading neobank in the EU operating in 30 markets on a mission to change the status quo of banking in Europe. Bunq users get five virtual cards as part of their Easy Money or Easy Green plans. Clients can purchase an additional five cards at €9.99 per month, for a maximum of 20 cards in 12 months.
• This Amsterdam-based neobank has a Trustpilot rating of 2.7/5 from 2,959 reviews. 
• bunq cards can only be delivered to the address registered with the account. However, if a customer orders a new card and wants it delivered to a different address other than the one in their profile, they have until 23:00 the day of ordering to update their address. 

Positive Customer Reviews

• "I have been a bunq user for over 5 years now and I can safely say that it is the most transparent and innovative bank of all the ones out there. The users of this bank are prioritized in every way and the bunq app has all the features you'd love to have, and more! I have great experiences with reaching out to customer support and have never had anything going wrong with my funds and/or account. In my opinion you're not using your smartphone to the fullest if bunq is not being used on it!"
• "Useful bank account with a good range of features. I like the API access to your own account. If you can write some basic Python or PHP you can automate a lot of things."
• "bunq is really making life easy. Have been a bunq user for years and have used many of the features for quite some time now, still can't get enough of them. Automatically get your salary sorted into sub-accounts, see Direct Debits come in before you actually have to pay for them, convert between currencies within a matter of seconds, even during the weekends! The ability to arrange everything in seconds by just using the app is really a revelation compared to my old-fashioned bank account at another bank ;-)"

Negative Customer Reviews

• "I took an "easy bank" subscription for a company credit card. Subscription should have been 5 euros a month and by now I have been charged 25 euro's a month for 3 months straight. I tried to contact BUNQ about this multiple times and finally they informed that this was a bug and that I should have never been charged this fee. They told me to block the cards, but did not give any information on how to do that and receive a refund. Terrible service all around."
• "Being one of the early adopters, Bunq used to be really great at the beginning, but it went popular and it's basically now just another traditional bank, but with less security. The main concern is that there's no support anymore, ended up multiple time with my account inaccessible for multiple days, their phone number promise a 10 minutes call-back which never happened after 30+ calls. Another example recently my account balance went negative, and they immediately blocked my account, as well as all my other accounts under different names (professional and business accounts), which is outside the scope of their terms and conditions, so expect them to rule your money as they feel like. I love Bunq, and still, I would really suggest you not to put your money there."

Neobank #2: Monese

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•  Website link. 
• Monese is headquartered in London, UK, and is available in "Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain and the UK."
• Monese is a digital bank providing mobile-only accounts with multiple currencies for users in the European Economic Area. The company launched in 2015 as the first mobile money service banking solution in the UK. Monese customers can apply for one virtual card for every currency account, with an existing physical card required for the application.
• Monese is rated 4/5 on Trustpilot from 27,957 reviews. Monese cards can only be delivered to the customer's home address. 
• Below are some reviews left on Trustpilot by Monese customers:

Positive Reviews

• "The best internet bank ever!" 
• "Quick and easy to use, very dependable and safe to use."
• "Straight forward, easy to join & a great way to build up your credit... What's not to like, recommended 👌🏽."

Negative Reviews

• "If I could rate zero stars I would. Literally the WORST company I have ever dealt with."
• Absolutely avoid this scam of a bank!!! My account was blocked around September 2021 for no reason at all, I emailed their support team who told me they had passed my case on to the Complaints team. It was all a lie! I emailed support 2 times more with no response, I sent DMs to their Twitter help account and surprise surprise, I was told to go back and email the same support team who have ignored me for months!!! Now I have made an erroneous payment into the Monese account and these scammers are still not answering me!! I’ve sent emails, contacted their Facebook and Twitter, and tried calling their scam automated line. No answer!!! It is highly frustrating and so annoying, the FCA and Financial Ombudsman should close down this farce of a banking company. MONESE GIVE ME MY MONEY BACK!!! I WORKED FOR IT AND DIDN'T STEAL IT!!! AVOID MONESE AT ALL COSTS!!!"

Neobank #3: Vivid Money

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•  Website link. 

•  Headquartered in Germany, Vivid Money is a fintech company offering customers across Europe a mobile bank app that helps them save and invest. Customers can create their virtual Vivid cards from the mobile app for free. Any extra cards attract a €1 charge, for a limit of three cards. 
• Vivid only ships cards to customers' home addresses. 
• Vivid Money has a 4.3/5 rating from 7,259 reviews on Trustpilot. Below are some of the reviews.

Positive Reviews

• "Great service overall. The only downside is that review of documents took few days, but that's kind of expected considering current world situation."
• "It is just everything you could need in one banking app! Great layout, easy to find you way around and fast support."
• "I've had Vivid for a month, so far everything is great. Chat help works really fast, they are nice and helpful. I send money to Poland to the ING bank - it arrived very quickly, the money from the Raiffeisen Bank employer is transferred to my account after a few hours. The most important thing is that the chat employees answer very quickly and always ask if they can help somehow, I have 2 cards, one virtual, the other real, I paid for online purchases, everything fine."

Negative Reviews

• "My account was terminated even before I received my card and was able to make the first transaction. So before I did anything with my account, they chose to terminate my account without explanation. Thank god I did not have any money on there or I'm sure I wouldn't have it today. Support was of absolutely no help, they simply said that because of security reasons they cannot provide me the service. "Security"? I have never done anything wrong + I have accounts with other (major) banks that have no problems with me. Vivid is a very shady company."
• "That is the worst and absolutely not transparent bank in Europe. They (or their partner Solarisbank) blocked my account after 2 years of using it without any notice and reason behind this decision, so I have to change all subscriptions and salary account because of that. In addition, they stole all stock reward that I received while paying for the Prime account and to return fund on the main account you need to fill a pdf form which is incredibly annoying."

Neobank #4: Sogexia

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•  Website link.
• Sogexia provides customers with an online and mobile bank account to help them receive cash, spend money, process bank transfers, save money, and so much more. Sogexia users can create virtual cards right from their profile. The bank is headquartered in France. 
• The neobank's physical cards are delivered within 10 working days in Metropolitan France and 20 to 30 days for the rest of the world. They are delivered to customers' home addresses. 
• Sogexia is rated 4.5/5 from 5,486 reviews on Trustpilot. Below are some of the reviews.

Positive Reviews

• "My experience was incredibly pleasant, the service is excellent. Thank you for making a personal problem for me less stressful. Thank you to the Support and Mail staff."
• "Sogexia is great. Excellent support from the staff. Punctual and comprehensive. I highly recommend it."

Negative Reviews

• "Inefficient compliance process! Customer services states " Average e-mail response time: < 1 working hour" but it took a day to reply. We submitted an application for the client and they requested additional information, but minutes later whilst we were preparing to submit this information, it was automatically rejected without any particular reason! Our client is a high net worth individual. It is absolutely ridiculous. I’ve a copy of the emails sent to my client from this company and will be happy to provide them at your convenience."
• I am very disappointed with this bank they have the worst client service on this planet in the 4 years I have had an account in their establishment twice they have changed my bank details and thrice they have asked me for my personal details, it's as though they don't take proper registry. Then to top it all of today they blocked my savings of over €30 650 leaving me with no clue what happened whatsoever, I've tried to contact them as usual but I have not had any form of contact from them to explain why they blocked my account. Over the past four years I have tried on many occasions to contact them regarding small issues but I ended up giving up because they never responded or they sent a message one month after my request. I will not accept them to just close my account and take my money away without reason. This is criminal and these institutions such Sogexia should not be allowed to operate or have any form of activity in this industry. I am appalled, disgusted that this is our society today."

Neobank #5: Tomorrow

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•  Website link. 
• Tomorrow Bank offers customers with digital banking solutions while investing their money in sustainable industries. To open a Tomorrow Bank account, customers need to be residents of the following countries: "Germany, Belgium, Estonia, Finland, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Austria, Portugal, Slovakia, Slovenia, Spain, and Cyprus."
• Tomorrow Bank is headquartered in Hamburg, Germany. 
• Tomorrow physical cards can only be sent to the address specified in the account. However, if customers' delivery address is different from the one they specified during the identification process, they can enter a new address before confirming shipping.
• Tomorrow also offers a visa debit card that can be used to make contactless payments. 
• Tomorrow Bank has a 3.6/5 rating on Trustpilot from 374 reviews.
• Below are some of the reviews.

Positive

• "I am really happy with this bank. They are transparent and have good values. The contact with any problems are phenomenal and they help very quickly. I can recommend it!"
• "It is just so easy to swap your banking and there is not a single reason why you shouldn't do it today! The Tomorrow App works very intuitively and your banking runs very smoothly in everyday life. The big effort of making your money be part of the solution is done by Tomorrow - everything you have to do is take a little time to create an account!"
• "For an online bank everything what I need and friendly, organic and progressive. 💜 to hamburg to tomorrow."

Negative

• "Hello. I decided to go to this bank because people recommended it and it is apparently sustainable. It was the worst decision ever. Out of some reason they canceled my account. No real explanation. I didn’t do anything wrong and they cannot give me an explanation for canceling my account. Sorry, but I never had problems with a bank, I am super disappointed. At least give an explanation."
• "Tomorrow has a terrible service. Terrible. They have blocked the access to my account with no warning and no apparent reason. For a month they haven’t let me access my money, to transfer it, to withdraw it or to use my card. And when I finally decide it is enough and to close my account, they refuse to make the transfer to a new account in a new bank. You talk to the chat, you call them, and the only feedback is that they will contact you when the problem is solved. They don’t give you answers or a due date to solve the problem. This bank is the equivalent of stealing one’s money and should be consider a felony this practice they do. Denying me the access to my account and my money. If you want an online bank please choose some other bank and stay away of Tomorrow."

Research Strategy