Mobile-only banks (and EMI/financial apps) are transforming 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 traditional 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.
Last updated: Oct 2026
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Comparing Mobile Banks
To compare online banks and find the right app for your banking needs, there are several factors to consider.
Transaction & ATM fees
Although many mobile banks offer lower fees than traditional banks, there can still be differences between each and every mobile bank. You may also want to check other fees such as card replacement, overdraft and top-up fees before selecting your preferred mobile bank.
Monthly plans
Some mobile banks offer stand-alone savings accounts, while others offer helpful 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.
Savings & budgeting
Some mobile banks offer stand-alone savings accounts, while others offer helpful 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
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.
Payments
All mobile banks offer a debit card for payments and withdrawals from your mobile bank account. In addition, many banking apps also support digital wallets such as Google Pay or Apple Pay, making online and in-store payments even easier.
What is a Mobile Bank?
