Best neobanks for business and personal banking (2026)

Digital banking is growing fast: there are over 4,000 FDIC-insured commercial banks and dozens of neobanks in the United States alone, and the choices can be overwhelming. Neobanks lead on digital banking experience.

If you're a small business looking for an online business checking account with minimal fees, or you're after a better digital experience for your personal finances, this guide is for you. We cover the best neobanks—for both business and personal banking—and how their fees, features, card services, and money-management options compare.

What's the best neobank for business?

For most US small businesses, the strongest business-focused neobanks in 2026 are Relay, Mercury, Bluevine, Novo, Lili, and Found. The right one depends on how you operate: Relay for separating money across multiple accounts and controlling cash flow; Mercury for funded startups; Bluevine for a built-in line of credit; Novo for its integrations library; Lili for freelancers and solo owners; and Found for the self-employed who want banking, bookkeeping, and tax tools in one place. None of these is a chartered bank—each is a fintech that holds deposits at an FDIC-member partner bank (more on what that means below).

What is a neobank?

A neobank, or digital bank, is a bank without branches that operates completely online.

Neobanks have emerged in recent years as "challenger banks" to traditional brick-and-mortar institutions like the Bank of Americas and Chases of the world. Unlike their traditional counterparts, neobanks offer a full suite of online banking services to help you manage your finances—often at a lower cost.

Despite the name, not all neobanks are actual banks. Some partner with traditional banks that already have banking infrastructure to deliver a frontend layer of digital services known as banking as a service (BaaS). Neobanks fall into two main types: full-stacked and frontend-focused.

Full-stacked vs frontend-focused neobanks

The main difference between a full-stack and a frontend-focused neobank is that a full-stacked neobank is a bank with its own banking license, whereas a frontend-focused neobank is not a bank but a financial technology (fintech) company that partners with a traditional bank to offer FDIC-insured digital banking services.

Varo (which holds its own US national bank charter) is an example of a full-stack neobank, whereas Relay and Mercury are frontend-focused.

Are neobanks safe? Is your money FDIC-insured?

Money at a reputable neobank is generally as safe as money at a traditional bank—but the mechanics matter. Most neobanks are fintechs, not banks: they don't hold a charter themselves. Instead, a chartered, FDIC-member partner bank holds your deposits, and FDIC "pass-through" insurance reaches you through that bank—subject to conditions, and only if the partner bank fails. FDIC insurance does not cover the fintech or middleware provider itself failing. The 2024 collapse of the banking-as-a-service provider Synapse showed why that distinction is worth understanding: when the intermediary failed, funds for tens of thousands of end users were frozen even though no chartered bank had failed. Two practical takeaways: check which named, FDIC-member bank actually holds a neobank's deposits, and know that the "up to $3M/$5M FDIC" figures some providers advertise come from sweep networks that spread balances across multiple member banks in $250,000 buckets—not from a single bank insuring millions.

What should business owners look for in a digital bank account?

Before we get to the top picks, let's talk about the common challenges of traditional banking and what to look for in a digital banking service.

Common challenges with traditional banking

1. High fees or minimums just to hold a bank account. Many banks charge monthly fees just to hold an account, require minimum balances to waive fees, and charge multiple fees for payments such as ACH or wire transfers.

2. In-person branch visits for basic banking tasks. Many traditional banks still require a branch visit for simple things like changing signees on a business credit card or updating your investment portfolio.

3. Slow and inconsistent customer service. Traditional banks are notorious for long hold times, and you may get different answers depending on which branch you visit.

4. No real visibility into your day-to-day financials. Traditional banks tend to offer only one checking account, which makes it hard to compartmentalize cash, spot overspending, or practice budgeting methods like the digital envelope system.

Benefits of a neobank

1. Low fees and minimum balances. Because neobanks operate entirely online with no branches to maintain, they can offer low-fee accounts with lower or no minimum balances.

2. Multiple checking accounts. Lower overhead lets many neobanks offer multiple checking accounts, an advantage if you like to compartmentalize money into different accounts.

3. Opening an account is easy. With most neobanks you can open an account in minutes from home, without visiting a branch.

4. Convenience. According to research from Statista, the number one reason US consumers sign up for an online banking account is convenience. You can bank 24/7 online or by mobile app, with dedicated support when you need it.

Best neobanks: our top picks

Now that we know what a neobank is and the pros and cons of online banking, let's get into our shortlist of the best neobanks for business banking, personal banking, and a few honorable mentions.

Best neobanks for business banking

First up, the top business banking platforms. Not all businesses are the same, but the right banking partner should help you meet your needs and set you up for financial success.

Relay

Relay is an all-in-one banking and money management platform built to help America's small businesses stay on top of their money. With banking services provided by Thread Bank, Member FDIC, Relay goes beyond the everyday basics with:

• No monthly maintenance fees, no overdraft fees, and no minimum balances

• Up to 20 individual checking accounts (up to 50 on the Scale plan)

• 50 virtual or physical Visa® debit cards

• Payments and deposits via ACH, wire and check

• Cash deposits and withdrawals at AllPoint+ ATMs

• Deposits from payment processing providers like PayPal, Stripe, Square and more

• Direct integrations with accounting software like QuickBooks Online and Xero

Relay makes it easy to control your cash flow and understand precisely what you're earning, spending and saving.

Overview of Relay's banking features

Verdict: Relay is best if you want crystal-clear visibility into cash flow

Relay is the business banking platform for owners who are serious about taking control of their cash flow. With Relay, you can use up to 20 checking accounts to compartmentalize income, organize cash into reserves, and make smarter cash-flow decisions for your business.

Brex

Brex is a spend-management platform for enterprise companies and venture-backed startups. Founded in 2017, it offers a business account, corporate cards, and employee expense management. Brex is a fintech, not a bank, and in April 2026 it became a subsidiary of Capital One.

As of 2022, Brex focuses on enterprise and venture-backed customers, leaving many small businesses to look for a Brex alternative. It qualifies businesses on funding rather than headcount and doesn't serve sole proprietorships. If your business fits its criteria, Brex offers a mature suite of features for medium-to-large companies.

Overview of Brex's banking features

Verdict: Brex is best for funded technology businesses

For businesses that qualify, Brex offers deep banking, expense management and cashback rewards on card spend, making it a fit for funded companies that spend a lot and need detailed employee spend management.

Mercury

Mercury is an online banking solution for high-growth, digital-first technology startups. Alongside basic banking, it gives founders access to a venture debt product and fundraising resources through its investor network.

Mercury holds deposits through partner banks including Choice Financial Group and Column N.A. (both Member FDIC), and advertises up to $5M in FDIC coverage through a sweep network. For a closer look at Mercury's account tiers, eligibility, and how its venture debt product works, the Mercury Bank review breaks down what founders should expect.

Overview of Mercury's banking features

Verdict: Mercury is best for tech startup community perks

Mercury offers the essential banking features you'd need, but many of its extras are geared toward startups. If that's you, Mercury's strong startup community, solid basics, and low fees make it a good fit.

> Compare Relay vs. Mercury here

Novo

Novo offers "powerfully simple" business banking without monthly fees. What makes it stand out is the library of integrations built directly into the platform.

If you run an e-commerce business, integrations with Etsy and Shopify let you see revenue held in online storefronts. Invoices can be created directly in Novo and sent for ACH or Stripe payment, streamlining your workflows.

Overview of Novo's banking features

Verdict: Novo offers the best suite of app integrations

With thousands of apps available through its integrations library, Novo is a good choice for small businesses that want to automate their workflows. Connect your Novo account with Slack, Gmail, and QuickBooks Online through Zapier to free up time.

Bluevine

Bluevine is an online banking platform for small businesses that combines checking, lending, and accounts payable in one product. For businesses looking to grow, it offers a revolving line of credit so you can borrow, repay, and access more funds as you scale.

Overview of Bluevine's banking features

Verdict: Bluevine is best for small business financing

Bluevine is a strong option for small businesses that want banking with a built-in line of credit. Lines of credit are available up to $250,000, with approval decisions that can come quickly. Rates and terms vary—check the current figures before applying.

> Explore the best bluevine alternatives here.

Lili

Lili offers business banking for freelancers, contractors, sole proprietors, and single-member LLCs, complete with a business debit card, a write-off tracker, and a tax bucket for setting money aside for taxes. In 2026 Lili repositioned toward growing small businesses, and its paid tiers add features like invoicing, savings, and higher APY on qualifying balances.

Overview of Lili's banking features

Verdict: Lili is best for freelancers, contractors and side hustlers

With built-in tax tools and lower external-transfer limits than a full-service business bank, Lili is best suited to freelancers, contractors, and solo owners—especially those who want tax set-asides and bookkeeping alongside banking.

Found

Found is business banking built for the self-employed—freelancers, 1099 contractors, and sole proprietors—with bookkeeping and tax tools baked in. Banking services are provided by Lead Bank, Member FDIC. The core account is free and includes a business checking account, a Mastercard debit card, automatic expense categorization, tax estimates and write-off tracking, invoicing, and 1099 contractor payments. A paid tier, Found Plus ($35/month or $315/year), adds tax payments, higher APY on balances, and custom expense rules.

Verdict: Found is best for the self-employed who want banking, bookkeeping, and taxes in one place

If you file a Schedule C and want your banking, bookkeeping, and tax set-asides in a single app, Found is purpose-built for that. The free plan covers the essentials; the tax-payment and higher-APY features sit behind Found Plus.

Statrys

Statrys is a neobank that offers multi-currency business accounts for businesses registered in Hong Kong, Singapore, or the British Virgin Islands. With more than 11 currencies supported and competitive exchange rates, Statrys is built for international businesses that pay and receive money globally.

Overview of Statrys' banking features

Verdict: Statrys is best for businesses that send and receive money globally

As one of the largest neobanks in Asia, Statrys is suited to high-transaction global businesses that deal with multiple currencies. Businesses can protect margins with competitive FX rates and manage payments 24/7 via the app.

Best neobanks for personal banking

Next, the top neobanks for personal banking.

Chime

Chime is one of the largest neobanks in the US, offering personal banking to millions of users. Chime makes managing money, paying friends, and saving easy through its mobile app.

Its Early Direct Deposit feature lets you access funds up to two days early for direct deposits set up to your checking account.

Overview of Chime's banking features

Verdict: Chime is the #1 most used personal neobank

With solid basics, debit and credit-builder cards, and an easy-to-use app, Chime is a top pick for personal banking. You can access essential features with no monthly fees while building credit and saving for the future.

Varo

Varo offers online personal banking with a checking account, a high-APY savings account, and debit and credit-builder card services. Varo holds its own US national bank charter, and stands out for its savings tools. With Save Your Pay, you can automatically move a percentage of each direct deposit into savings.

Overview of Varo's banking features

Verdict: Varo is best for high annual percentage yields on savings accounts

If you want a neobank with a high Annual Percentage Yield (APY) on savings, Varo is a strong option—its top tier pays an elevated APY when you meet the qualifying conditions. Confirm the current rate on Varo's site, since it changes.

Ally

Ally is an online bank offering checking, savings, and retirement accounts for personal banking. It has also branched into home loans and investing with Ally Home and Ally Invest.

Overview of Ally's banking features

Verdict: Ally is best for pairing everyday banking with investing

Ally is a good fit if you want one place for everyday banking plus savings, CDs, and self-directed investing through Ally Invest. (Ally Invest offers stocks, ETFs, and options; it does not currently offer cryptocurrency spot trading.)

Betterment

Betterment offers online checking, savings, and investment accounts to help you manage cash, plan for the future, and grow investments. Basic banking features—checking, cash reserve, and planning tools—are free, while investing and retirement accounts carry a fee to cover trading, transfer, and management costs.

Overview of Betterment's banking features

Verdict: Betterment is best for the investor looking to diversify their portfolio

With a wide range of investing accounts—curated portfolios, IRAs, socially responsible options—Betterment is a strong pick for the investor looking to diversify and grow wealth alongside everyday banking.

Revolut

Revolut was founded in 2015 and offers personal banking in the US, plus personal and business banking in many countries abroad. In the US, Revolut offers tiered personal plans; US-based businesses aren't currently eligible for Revolut Business.

Overview of Revolut's US banking features

Verdict: Revolut is best for US personal banking with global perks

Revolut is a fit for US individuals who travel or move money across borders and want low-friction currency exchange. Note that Revolut Business isn't available to US-registered businesses today, so US owners should look elsewhere for a business account.

SoFi

Social Finance, Inc.—better known as SoFi—is a financial-services company that operates as a one-stop shop for your finances, offering student and personal loans, refinancing, mortgages, insurance, investing, and personal banking. SoFi holds a national bank charter.

Overview of SoFi's banking features

Verdict: SoFi offers the best selection of loan and financing services

If your top priority is access to loans and financing, SoFi is a strong bet. Its app makes it easy to move money between checking, savings, and investing, or to pay down loans and mortgages.

Best neobanks: honorable mentions

Finally, a few honorable mentions—neobanks serving niche audiences like gig workers, teens, and sustainable investors.

Acorns: for family-friendly investing

Acorns offers personal banking, investment, and retirement accounts through Lincoln Savings Bank, Member FDIC, with a focus on helping you and your family invest, grow, and save. It offers Personal and Family plans, the latter of which includes early investment accounts for children.

Current: banking for teens

Current is designed to give teens financial independence with the security parents want. Teens get a checking account and Visa debit card and can start saving early, while parents can set spending limits, automate allowance, and block certain merchants.

Moves Financial: for gig workers

Moves is online banking designed for gig workers, letting them view past and future earnings across gig apps alongside spending in one place. Confirm current availability and features on the Moves site before signing up.

Consider Relay for your business checking account

Founders who chose Mercury mainly for venture debt and investor perks can still weigh the Mercury alternatives roundup, which covers more small-business banking picks worth comparing. If you're ready to open a new business bank account, consider the benefits of Relay. We know entrepreneurs put everything on the line to start and grow their companies—that's why we've built a business banking platform to help you carry the load.

With Relay, you can spend, save, and plan with clarity into operating expenses, cash flow, and accounts payable. Make the switch today.