What fees do neobanks typically charge?

What fees do neobanks typically charge?

Neobanks often have lower fees than traditional banks. Common fees include ATM withdrawal fees, foreign transaction fees, and monthly maintenance fees, but many neobanks offer fee-free options.

Are there any hidden fees I should be aware of?

While neobanks aim for transparency, some may have fees for specific services like overdrafts or wire transfers. It's best to read the terms carefully.

How do neobanks make money if they have low fees?

Neobanks often make money through partnerships, interchange fees from card transactions, and offering premium services for a fee.

Can I avoid fees altogether with a neobank?

Yes, many neobanks offer accounts with no monthly fees or minimum balance requirements. Just ensure you meet their criteria.

What are some popular neobanks I should consider?

Some popular neobanks include Chime, N26, and Revolut. Each offers unique features, so it's worth comparing them.