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January 2021

Top Mobile Banks in The UK

Top Mobile Banks

United Kingdom United Kingdom – January 2021
  • Immediate account opening
  • Safe & regulated banking services
  • Simple, cost-effective, 100% app-based banking
PricingCardWhat We LikeScoreOpen an Account
  • Free Plan
  • Additional plans from £5.95/m
  • Open an account in multiple currencies to spend abroad like a local
  • Get your salary paid directly into your account
  • Fast and cheap international transfers
  • Instant transfers & cash top-up in the UK
9.8
                  Free Account
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
Plans & Prices
Support
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Payment Methods
  • Free Plan
  • International transfer fees
  • Free GBP & EUR accounts
  • Save & budget via Goals
  • Split payments with ‘Settle Up’
9.5
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
Plans & Prices
Support
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Payment Methods
  • Free trial
  • Plans from £/€6/m
  • Smart business cards. Simplifies company spending
  • Advanced accounting integrations e.g. Xero, e-conomic & Sage
9.1
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
  • Set spending limits for each card
  • Categorised transactions
  • Free top-ups (Pleo wallet & Pleo cards)
  • Upload online receipts and invoices
Plans & Prices
Support
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Payment Methods
  • Plans from €7.99/m
  • Real credit cards. No credit checks
  • Free global ATM withdrawals
8.8
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
Plans & Prices
Support
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Payment Methods
  • Free Account
  • Premium plan
  • Spend abroad in any currency and save 85%+ compared to your bank
  • Zero fee FX debit card
8.5
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
Plans & Prices
Support
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Payment Methods
  • Free Plan
  • Additional plans from £5.95
  • Creditbuilder add-on to improve credit score
  • Deposits & withdrawals at 11,500+ UK Post Offices
8.2
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
  • Downloadable statements in CSV or OFX
  • Set individual limits for each card
  • Cash payments at UK Post Offices
  • Free UK Purchases (£)
Plans & Prices
Support
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Payment Methods
  • Free first 6 months
  • Additional plans from £5/m
  • Tools to manage your business expenses
  • VAT tax reminders
7.9
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
  • Self-assessment requirements reminders
  • Tools to manage your expenses
  • Link your other bank accounts with ANNA
  • No transaction or ATM fees
Plans & Prices
Support
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Payment Methods
1
  • Open an account in multiple currencies to spend abroad like a local
  • Instant transfers & cash top-up in the UK
Free Account
2
  • Free GBP & EUR accounts
  • Save & budget via Goals
3
Best for Business
Score
9.1
  • Smart business cards. Simplifies company spending
  • Advanced accounting integrations e.g. Xero, e-conomic & Sage
4
  • Real credit cards. No credit checks
5
Score
8.5
  • Spend abroad in any currency and save 85%+ compared to your bank
6
Score
8.2
  • Unique account number and sort code
7
  • Tools to manage your business expenses

Advertiser Disclosure

Top10MobileBanks is a comparison site that provides users with free information on leading mobile banks and related tools. We do not provide a listing of all companies in the market. We aim to help users make an informed choice that best suits their particular needs. We do not guarantee the accuracy of the information. The information appearing on Top10MobileBanks may be subject to change at any time, and it reflects our subjective opinion. Top10MobileBanks is supported by referral fees from listed companies.

What is a Mobile Bank

Mobile-only banks are revolutionising personal banking, offering an alternative to traditional brick-and-mortar banks with fast, secure and easy to use apps for iOS and Android. Mobile banks offer competitive banking services such as current accounts, savings accounts, loans, insurance, and debit/credit cards, often at a cheaper rate than traditional banks.

Mobile-only banks, also known as digital banks or challenger banks, should not be confused with an online account from your traditional bank. Mobile-only banks are 100% app-based, offering more transparency and convenience with fewer restrictions and waiting times than your common bank. And with millions of users across Europe and the UK already using mobile banks, it is clear that mobile-only banking apps are the future for hassle-free, borderless banking.

Why Use a Mobile Bank

24/7 availability- anytime, anywhere

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No matter where you are, at home or abroad, you can access your bank account via the app, check your account balance, control your savings, get customer support, make payments and even lock your debit card if needed. In addition, get real-time notifications every time you make a transaction, so there won’t be any surprises at the end of the month. No need to make appointments, stand in line and lose working hours to manage your finances.

Get approved fast

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Opening an account with a mobile-only bank is simple, with no lengthy paperwork. Just download the app, prove your identity, top up your account and you’re ready to go. Some mobile banks, such as bunq mobile account, don’t even require credit checks, so you can open an account and get access to it in minutes.

Lower fees

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Another main reason to use a mobile bank is the low (or no!) fees. As a mobile-only platform with no physical branches, mobile banks can offer lower fees than traditional banks – especially when it comes to ATM withdrawals, money exchange/transfer and payments abroad.

Makes traveling easier

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Mobile banks = borderless banking. Low exchange rates and low/no ATM withdrawal fees worldwide make traveling a whole lot easier (and cheaper) than with traditional banks- especially in the eurozone. And for added safety, lock or unlock your debit card while you travel, directly in the app.

Go paperless

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One of the frustrating things about traditional banks is the amount of documents, contracts and letters that are sent to your mailbox. With mobile banks everything you need is in the app and all communications are sent to your app or your email. Gone are the days of rummaging through piles of paper around your house – and protecting the environment is the cherry on top.

Quick loans

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Unlike traditional banks, some mobile banks offer loans with a much simpler process. With Starling Bank personal loan you can know in advance exactly what your rate is, how much you’ll pay in total, and how long you can borrow it for, which makes Starling a great alternative not only for maintaining an account but also for loans.

How to Compare Mobile Banks

To compare mobile banks and find the right app for your banking needs, there are a number of factors you should consider:

Fees, including transaction & ATM withdrawal fees

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Although all mobile banks offer lower fees than traditional banks, there are still differences between each and every mobile bank. You may also wish to check other fees such as card replacement, overdraught and top-up fees before selecting your preferred mobile bank.

Monthly Plans

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The leading mobile banks, such as Paysend Global Account, offer a free account, so you only have to pay a small fee for the services you use. Many mobile banks also offer premium plans, offering additional benefits such as free withdrawals, even lower fees, insurance and more.

Saving and budgeting tools

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Some mobile banks offer stand-alone savings accounts, while others offer nifty features such as rounding up your purchases and placing the difference in a ‘piggy-bank’ in the app as well as budgeting goals and targets.

Security

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The leading mobile banks, including those on this website, adhere to the highest safety standards, ensuring your money and data are protected 24/7. The mobile banks compared and reviewed by top10mobilebanks.com are authorised and regulated by local authorities, safeguarding their customers’ funds using a network of stable European banks.

Payments

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All mobile banks offer a debit card for payments and withdrawals from your mobile bank account. In addition, many banking apps also offer e-wallets such as Google Pay or Apple Pay, making online and in-store payments even easier.