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Best digital banks in Europe – 2021

What are the best digital banks in Europe? That will be the topic of today’s article.

In previous articles I have discussed some of the best digital banks around the world, including some of Singapore’s best digital banks in 2020.

This article will discuss some of the best digital banks in Europe in 2020 and beyond.

If you are looking to invest, or have any questions, don’t hesitate to contact me or use the WhatsApp function below.

For those who prefer visual content, I have made the video below:


Digital banking is a complex industry with its own “rules and laws”. Like any other industry, digital banking is gradually evolving, but if you want to be successful in it, you need to know some very important things about integrating intelligence and artificial intelligence into digital banking.

First of all, it’s important to understand the big picture before diving into the details. Integrating intelligence and artificial intelligence technologies into your digital banking model can help you optimize costs and accelerate digital sales.

Currently, more and more companies are looking closely at how they can improve digital banking and are planning to invest more in it. Customers interact more with banks online than offline, forging closer relationships and increasing the number of transactions, which increases the bank’s revenue.

Most customers believe they are not getting a personalized experience, but smart digital banking can change that and help banks deliver a more streamlined and personalized experience for each customer.

Digitalization has created a new scenario full of opportunities for all industries, having a radical impact on many industries, such as in the case of banking, which was one of the first to initiate a deep process of digital transformation. 

Despite this, according to the some of the European countries’ researches, almost 40% of the world’s major banking structures had not yet proposed a digital transformation strategy by the end of last year.

What are the main advantages of digital banking?

The digitalization of the banking sector is opening up a world full of opportunities for institutions and consumers alike. Until recently, it was almost impossible to get a loan online or have banks that only conduct transactions through their mobile platforms. 

Today, the trend towards digitalization is increasing. So much so that digital banking is expected to generate about $ 8.646 billion by 2025, with a compound annual growth rate (CAGR) of about 3.8% between 2019 and 2025.

Digital transformation is a process of continuous technological development in which companies must be aware of all the tools available to improve and upgrade the efficiency of processes to achieve greater profitability, such as big data or machine learning. This is why it is so important to identify the benefits of digitalization for banking institutions. In this sense, let’s highlight some of the advantages that a digital banking can bring to you:

User Experience: Advances in digitalization have enabled institutions to comprehensively improve user experience and improve omnichannel banking in its evolution towards a customer-centric model. 

This implies the availability of analytical technology solutions to offer products and services tailored to the needs of users. This requires taking into account knowledge of your preferences, purchasing behavior and attitudes towards risk and financial health.

Increase in the number of clients: Faced with a loss of confidence in traditional banking and an increase in consumer banking applications and online banking, financial institutions have recently increased their customer base. With the advent of financial technology in this sector, it is becoming clear that banks will have to change the way they do their business to avoid losing customers.

Improving process efficiency: Through the introduction of various advanced technologies, such as electronic signature or the creation of banking applications for smartphones, banks are looking to improve the efficiency of their manual processes. 

Thus, they strive to reduce the number of human errors in customer relationships. According to the company, fixing this type of error usually costs three to four times more than creating a digital process. 

Digitizing processes is a very important improvement because all data and signatures are captured correctly the first time.

Reduced costs: Another advantage of digitization in banks is cost savings for both institutions and customers through the use of new payment methods and non-cash transactions. 

An example is Challenger Banks, that is, those Neobanks that have a banking license to offer savings products, finance and cards in the same way as traditional banks, but with 100% digital operation.

Better data-driven decisions: With the increasing digitalization of banks, data is becoming one of the most important assets in making dynamic decisions based on the large amounts of information available to institutions. 

Technologies such as big data enable banks to base their decisions or improve processes on the data available to their customers. Recently, the arrival of large technology companies has become a serious problem for banks, as they have a large amount of data and deep knowledge of the proposed technological solutions.

Approximately one third of all regions across the EU reported that more than 50 % of their adult population made use of the internet for digital banking in 2019. 

So in this article we will mainly be focused on some of the best digital banks available in EU, that we have never talked before, review them, talk about their advantages and disadvantages and try to give you an orientation, which one to choose for further use. 

In result of our researches we have found the following bank:

  • Curve
  • Chime
  • Fidor Bank
  • Holvi


Curve is a UK-based FinTech company founded in 2015 that provides a smart card and app that allows you to combine and process all your bank cards in one place, making it easy to manage your expenses and get various benefits. It is not a bank, but its service is based on electronic money.

Curve is a competitive banking brand that hopes to change the way we approach finance. Like other banking apps it competes with, Curve is in part attracted by the constant availability from your phone 24/7. 

The standout feature of Curve, however, is that it acts like a mobile accountant, managing your various cards and helping you keep track of your money. This is why he calls himself “Netflix of banking”.

Curve is committed to providing “one place to spend, send, view and save money.” Instead of following the structure of traditional banks, Curve tries to distance itself from it. It acts as a meeting point for all of your accounts, allowing you to keep track of your money wherever it is.

You can use your Curve debit card to make transactions from any billing account registered with your Curve app. In other words, you can load all of your Visa and MasterCard debit and credit cards into the app and then use your Curve card to pay for any of them.

By connecting all of your accounts, Curve is not only distinguished by its mobile nature, but also by the fact that it works as a virtual accountant. Instead of browsing a mountain of receipts or statement tabs on the Internet, Curve records and tells you how much you spent.

Curve works from your phone, merging your accounts into one app.

This record of your transactions encourages good spending habits. In addition to all this, Curve has partnered with various companies, allowing shoppers to spend their money at selected stores and receive cash-back.

The app itself is based on simplicity, not style, with a functional design allowing easy access to all features.

After registering, you will receive a contactless Curve card. Customers have complete control over their card with the ability to freeze and thaw at the touch of a button for added security and convenience.

Curve offers reasonable rates for both its business and personal accounts, with the option to receive privileges in your account after checking the risks and creating a history of expenses:

First of all it is free to create a Curve account, with the exception of a £ 1 verification fee that is returned. When using the Curve MasterCard in the UK, there is no additional fee: withdrawing, transferring or depositing money is free.

Using Curve abroad is also free on weekdays, but there is a 0.5% commission on weekends.

Curve UK customers can also add their Curve payment card to Samsung Pay, Apple Pay and Google Pay if they prefer to make contactless payments using their mobile phone rather than their physical card.

Concerning the safety, Curve understands how important your accounts are, and as a result prepares to protect them from any force that tries to compromise them. Curve sends you an email every time you make a login request, adding another step to the security of your account.

Now let’s see the most important pros and cons that you have to consider before downloading Curve app to register.

Curve pros:

  • Account can be set up in 20 minutes or less.
  • Unique services, like using all your cards in one, and going back in time
  • Registered with the PRA and FCA.
  • Spending history can help you to save money.
  • Compatible with Samsung Pay, Apple Pay and Google Pay.
  • Easy-to-use app with good user experience

Curve cons:

  • Monthly and daily limits on ATM withdrawals, spending.
  • Limits on spending and withdrawals.
  • Lacks budgeting and savings features.
  • Customer support is relatively slow, although helpful.


Chime is an online company that has partnered with two banks to offer their checking and savings accounts. It doesn’t look like the traditional bank branch next door, but Chime accounts are still FDIC insured, so they are a safe place to keep your money. 

Chime has no monthly fees or overdraft fees and lets you round up purchases to the next dollar and keep the balance. But depositing cash can be difficult.

Chime should appeal to consumers looking for a simple, no-fuss escrow account with minimal fees and mobile-friendly features. It might suit you if you want:

  • Get access to direct deposit funds earlier
  • Open a savings account without a minimum balance requirement
  • Open a current account with a debit card and no overdraft fees
  • Send money to Chime account holders instantly with no additional fees
  • You have bad banking history but want to open an account

Chime offers are limited to two basic services: 

  • checking account that comes with a Visa card 
  • and a savings account

The Chime Spending account is free with no monthly fees and no minimum balance requirements. It also gives users access to over 38,000 free ATM machines. 

And with a direct deposit, customers can receive their salary two days earlier than at a traditional bank. In addition, Chime does not charge any fees for using your card abroad; other banks usually charge between 1% and 3% of the amount of your purchase.

However, Chime charges $ 2.50 per transaction at offline ATMs and you will have to deposit cash at Green Dot locations, which may charge fees. 

Chime does not offer a physical checkbook, but you can pay bills by submitting a check online using the Chime Checkbook feature. 

There are limits of $ 5,000 per payment and $ 10,000 per calendar month. You can also provide billers with your Chime account number and route number.

Chime offers a low income savings account option that is linked to your expense account and provides two automatic savings options.

To get started, you can activate the Save on Spending tool, which rounds purchases to the nearest dollar and transfers the additional amount to your savings account.

The Chime mobile app excels where it matters – customers rated the iOS version 4.8 stars and the Android app 4.6 stars, both out of five. 

What’s more, daily balance updates and real-time transaction alerts can help customers stay on top of their spending. And if your card is missing, you can block transactions using the Chime app.

In addition to low fees, Chime is moving away from the verification tools that most banks use to determine if a person will be blocked from accessing a bank account if it was closed in the past. This can make Chime a useful banking solution if you’re trying to get your financial life back on track.

Chime pros:

  • Earlier access to direct deposits.
  • Minimal fees.
  • Automatic savings options.
  • No monthly fees, no overdraft fees.
  • Large free ATM network.

Chime cons:

  • Cash deposit is difficult and may cost you.
  • Fees on out-of-network ATM transactions.
  • There are limited banking services.
  • Moderate interest rate on the savings account.
  • It’s difficult to deposit cash into your account.

Fidor Bank

Fidor Bank was founded in Germany in 2009 and launched in the UK in 2015. As of September 2019, Fidor has withdrawn its products and services from the UK due to market uncertainty in the UK, but continues to operate as one of Europe’s leading digital rival banks. 

Fidor offers private clients a Smart Personal Checking Account and Savings Bonds for 3 to 36 months. They offer businesses a Smart Business account. 

Fidor Bank also offers foreign exchange investment opportunities; investments in precious metals; a variety of loan options and a range of card products – all from a digital bank smart checking account.

For B2C businesses, Fidor offers a digital framework that encourages interaction and discussion in their Smart Community forum. 

Here, about 950,000 members can chat, discuss products, ask banking questions, share financial advice, and use the forum as a platform for doing business. Fidor’s comprehensive products and services serve private and corporate clients. 

They offer a combination of traditional banking and innovative digital banking with integrated financial applications from partners.

Now Fidor Bank is only available to residents of Germany. As a new customer, you can register on the Fidor website and download the Fidor Smart Banking app. 

You will need to provide personal details such as your full name, date of birth, address and email address. You will then need to verify your identity and provide all required documentation.

Fidor Smart’s fast and simple online checking account application, which includes a video verification step with IDNow, can be completed in less than six minutes, which means you can start using this provider’s built-in banking features with a minimum of hassle.

The account management fee is 5 € per month, but you can avoid this by activating the “activity bonus” if you process more than 10 transactions per month. Other fees will apply depending on how you use your account. For example, depositing cash through Fidor Cash will incur a commission of over € 100.

If you meet the eligibility criteria and decide to apply to open a Fidor Smart checking account, you can do so online through the Fidor Bank website.

You will need to fill in some personal details before verifying your email address and entering your mobile number and verification code. You will also need to pass video verification.

To apply to Fidor Bank, you must be a resident of Germany. Typical eligibility requirements include:

  • Age at least 18 years old
  • Be a resident of Germany and have an account with a German bank (not necessarily with a Fidor bank).
  • Have a smartphone and a valid email address

Fidor Bank pros:

  • Impressive range of account features and perks.
  • Make and view transactions in real-time in an easy-to-use app.
  • Apple Pay and FidorPay (for Android) are available.

Fidor Bank cons:

  • You’ll have to pay an account management fee unless you complete 11 monthly transactions.
  • Several complaints have been filed online regarding the availability of customer support.


Holvi is a relatively new digital bank account for small businesses. It is completely online and can be operated 24/7, from a computer or phone. 

The platform, launched in Finland in 2011, is available throughout Europe and is headquartered in Helsinki, Berlin and Madrid. 

Holvi is authorized by the Finnish Financial Conduct Authority (FIN-FSA) to operate in the European Economic Area (EEA). The platform recently announced that it has 150,000 businesses across Europe.

After registering with Holvi you will receive:

  • Prepaid card. This is a bright yellow MasterCard.
  • Holvi app. It looks clean and tidy and notifies you instantly when you use your card or when you pay your bill.
  • Expense management tool. Every time you use your card, Holvi categorizes your purchase, requests a receipt and saves the information. It also automatically generates expense reports.
  • Billing tool. This helps you create invoices faster by automatically filling in your company data, and it also tracks payments you receive to determine which invoices have not yet been paid.

In other countries, Holvi allows you to create an online store for your business, but this feature is not currently available in the UK. In addition, you can only receive wire transfers in GBP for now.

Like many other digital bank accounts, Holvi includes useful accounting and bookkeeping tools, as well as the usual banking features you’d expect, such as payments and bank transfers. So it’s a good choice for a new business.

Everything will be calculated for you. This includes keeping track of all your payments and expenses from your phone or laptop, as well as automated VAT calculations and simple invoices that you can send to your clients and clients. You will also receive a free MasterCard debit card.

The free version includes 1 debit card, 1 user, unlimited transfers and 2.5% ATM withdrawal fees. For £ 9 a month, you get all of this plus unlimited billing.

Holvi is licensed and regulated by the Finnish Financial Conduct Authority (FIN-FSA), which is the Finnish equivalent of our FCA (Financial Conduct Authority), and requires companies to comply with the same safety standards as required by EU regulations.

Thus, Holvi must keep all client funds separate from company finances, in so-called “segregated accounts”, which means that even if the company goes bankrupt, your money cannot be used to pay off its debts.

However, Holvi is not a bank, so the Financial Services Compensation Scheme (FSCS), which typically protects deposits up to £ 85,000, does not apply.

Holvi pros:

  • The free version includes a lot of essential features, so you might not need to pay a penny.
  • Smart, intuitive features that are easy to manage 24/7.
  • Great reviews from customers.

Holvi cons:

  • Not all the features are available in the UK.
  • Quite a few different fees and charges.
  • It doesn’t offer anything more than a current account (no overdrafts or credit cards, for example).

Here is all that we have prepared for you, all these digital banks are the most popular ones in EU, which are safe, multifunctional and well-executed.



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