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Neobank safety questions
34 brand-specific safety answers. Regulator. Deposit protection. Scams. Support.
Each page answers the same six questions per brand: who regulates it, what deposit protection applies, what fraud patterns surface in support tickets, and what to do if something goes wrong. No sponsored placements.
- Is ALAT by Wema safe?
- Is Banco Inter safe?
- Is Bank Zero safe?
- Is bunq safe?
- Is C6 Bank safe?
- Is Carbon safe?
- Is Cash App safe?
- Is Chime safe?
- Is Chipper Cash safe?
- Is GoTyme safe?
- Is ila Bank safe?
- Is K Bank safe?
- Is Kakao Bank safe?
- Is Kuda safe?
- Is Liv. safe?
- Is Mashreq Neo safe?
- Is Maya Bank safe?
- Is Mercado Pago safe?
- Is Mercury safe?
- Is N26 safe?
- Is Now Money safe?
- Is Nubank safe?
- Is Opay safe?
- Is Rakuten Bank safe?
- Is Revolut safe?
- Is SoFi safe?
- Is Sony Bank safe?
- Is stc Bank safe?
- Is Tonik safe?
- Is Toss Bank safe?
- Is Trust Bank safe?
- Is Ualá safe?
- Is Varo safe?
- Is Wise safe?
Neobank safety: common questions
- Are neobanks safe in Europe?
- Yes, once you understand the licence. EU neobanks with a full banking licence (such as N26, bunq and Trade Republic) protect deposits up to €100,000 per person under their national Deposit Guarantee Scheme. Neobanks on an e-money (EMI) licence (such as Wise) instead safeguard customer funds in segregated accounts — the money is ring-fenced, but it is not covered by the €100,000 state guarantee.
- What is the difference between a banking licence and an EMI licence?
- A full banking licence lets the provider take deposits and lend, and brings Deposit Guarantee Scheme (DGS) cover up to €100,000. An Electronic Money Institution (EMI) licence allows issuing e-money and payment services but not deposit-taking; funds are safeguarded in segregated accounts at partner banks rather than DGS-insured. The distinction decides what protection applies if the provider fails.
- What happens to my money if a neobank fails?
- If the neobank holds a full banking licence, the national Deposit Guarantee Scheme repays eligible deposits up to €100,000 per person, typically within seven working days. If it holds an EMI licence, safeguarded funds are returned by the administrator from the segregated accounts, which can take longer and is not backed by the state guarantee.
- Why do neobanks freeze accounts?
- Neobanks run automated anti-money-laundering checks that can temporarily freeze an account when activity looks unusual — for example a large or first-time transfer. Resolution usually means supplying source-of-funds documents in-app. Because freezes can hit legitimate activity too, it is wise to keep a second account elsewhere.
- How can I check whether a neobank is licensed?
- Look the provider up in its home regulator's public register — for example BaFin in Germany, De Nederlandsche Bank in the Netherlands, or the Bank of Lithuania. Every brand review on this site links the primary regulator source and states whether the licence is a banking or EMI licence.