Your Guide to Travel-Friendly Banking

This article focuses on the most famous and known neobanks. Many are used predominantly in the Eurozone and let you easily set up a travel-friendly bank account.

I have also found one remarkable choice for US citizens and one for crypto lovers.

Revolut

Best for crypto, multi-currency

Revolut is by far the most known neobank. Many travelers and digital nomads are aware of its existence and tend to use it. It is also very popular among crypto lovers too. The bank was founded in 2015, and its headquarters are in London, UK. You can open a personal or business account. Both have several different plants, starting with the Free ones – Standard personal, and Basic Business.

Pros

Multi-currency – you can easily hold, exchange, and spend many currencies with great rates

Low exchange fees – real-time currency conversion

Comprehensive App – besides the exchange and reasonable fees, Revolut offers budgeting options, savings vaults, stock trading, and insurance services. But also eSims, book travel experiences, earning points for plane travel and accommodation, and access to airport lounges.

Cons

Limited customer support – only in-app chat support, and priority given to premium members. Many free members are reporting it as slow or unresponsive.

Certain fees – the more premium accounts you have the higher the withdrawal monthly limit without fees.

Account freezes – some people report that Revolut has frozen their account after receiving a certain amount of money. Revolut has strict anti-fraud measures. You can expect delays and restrictions, especially for large, or international transfers.

Lacks full bank features – there are no physical branches, and this neobank does not offer credit cards or personal loans.

Regional restrictions – Revolut, or its features are not available in every country. It also does not cover all currencies (only 30 major), for example, Argentine Peso, Algerian Dinar, Nigerian Naira, Iraqi Dinar, Cuban Peso, and Nepalese Rupee.

Wise

Best for transfers, low fees

Another favorite neobank that many people use is to open a travel-friendly bank account. It was founded in 2011. Likewise Revolut, Wise has headquarters in London. It offers free personal and only paid business accounts (50 EUR for registration). A Wise debit card for personal accounts costs 8 EUR, while for business 4 EUR.

Pros

Transparent pricing – the fees are lower and usually cheaper than the ones from traditional banks.

Exchange rates – there are no hidden markups for mid-market exchange rates

Multi-currency – Wise users can hold and manage more than 50 currencies at the same time. You will also get local bank details like IBAN, and account numbers in many regions (UK, EU, US, Australia).

Fast and user-friendly – the app and desktop are easy to navigate and intuitive, and the transactions are prompt.

Global accessibility – Wise is available in over 170 countries making international transactions and payments a piece of cake.

Cons

Not a traditional bank – not all products are available compared to conventional banks like loans, credit cards, or saving accounts.

Limited customer support – the support is not available 24/7.

Conversion fees – although Wise offers competitive rates, there are some fees for every currency conversion.

Regional restrictions – some features like local bank details may not be available for everyone.

N26

Eurozone banking, easy onboarding

N26 bank, formerly named Number 26, is a German neobank. Its headquarters are in Berlin. I was founded in 2013. Besides the European Union, it is available in Iceland, Liechtenstein, Norway, Switzerland, and Brazil. You can open both personal and business accounts. Both have a free Standard plan that does not cover some features (travel insurance).

Pros

Eurozone banking – the neobank is ideal for people living in the European Union. It is a fully licensed European bank. There are no fees for currency conversion within SEPA.

Easy Onboarding – like the previous neobanks, N26 can be easily set up on the desktop or mobile app.

Advances features – besides its clean design, it comes with real-time notifications, budgeting tools, or expense categorization.

Cons

Limited availability – as stated above, the bank primarily focuses on European customers, not the US or UK.

Fees and premium features – the free accounts are limited. The premium ones offer special features like travel insurance, and higher ATM withdrawal limits, especially abroad (only covered in the You and Metal plan).

No overdraft or loans – some regions may not get N26 loan or overdraft services

Customer support – can be limited to chat via the chat.

Currency support – N26 is a euro-centric bank and may not be ideal for those who operate more with non-euro currencies. The exchange fees might be higher, and you can not set up more accounts in different currencies.

Bunq

Customizable, eco-friendly

Bunq is a Dutch neobank from the Netherlands with headquarters in Amsterdam. It was founded in 2012, and it operates in 30 European countries. Like the other neobanks, it allows you to set up a travel-friendly bank account, but some of its free options are more limited. Both personal and business have free plans for Card and Savings accounts. For the physical card, there is a yearly fee. Free ATM withdrawals and local IBAN are only for the Pro and Pro XL accounts.

Pros

Customizable – users have a variety of options to better suit their needs. For example, you can manage up to 25 sub-accounts, each with its own IBAN. You can automate many processes – automating savings, categorizing expenses, and splitting bills easily.

Eco-friendly – when you choose the Supergreen account and spend 100 EUR, Bunq plants a tree. The bank invests in many sustainable projects.

Multi-currency – the Bunq account is very travel-friendly, allowing you to hold and manage multiple currencies, low fees for international payments, and competitive exchange rates.

Cons

High monthly fees – the fees are pretty high for the SuperGreen accounts. Those choosing the free plans should be aware that, in comparison to free accounts with Revolut or N26, these options may not be completely free of cost.

Limited global presence – the bank only serves within the Eurozone, but compared to Wise and Revolut, the bank is less globally accessible.

Not full bank – you can not get credit cards, loans, or overdrafts. Bunq also does not offer any investments in stock or crypto.

Customer support – the bank lacks 24/7 support and only relies on in-app features. If you buy the Pro plan, you will get priority.

ATM withdrawal fees – for the free plans, the ATM fees apply. Only the Pro plants come with free ATM monthly withdrawals.

Chime

US-based, no fees

Chime is available only for US citizens. It is based in San Francisco and has been offering its services since 2012. The idea was to serve less affluent communities that live paycheck to paycheck.

Pros

No fees – there are no fees for registering, maintenance, overdraft, or minimum balance. The bank also does not charge for international transactions. It is an ideal option for setting up a travel-friendly bank account.

Early direct deposit – you can access your paycheck two days early.

Automatic savings tools – you can use round-up purchases and save the difference. Also, a percentage from the direct deposit can be automatically transferred to a savings account.

UX-friendly mobile app – instant notifications and easy-to-navigate interface.

Overdraft protection – use the SpotMe feature to overdraft an account up to 200 USD without fees.

Cons

Limited product range – the bank is online. There are no loan offers, credit cards, or mortgages.

Cash deposit fees – you can deposit cash via retail partners. There are some third-party fees involved.

ATM access limitations – Chime boasts an extensive network of MoneyPass ATMs; however, using ATMs outside of this network may incur additional fees.

Customer support – like many other neobanks, Chime has only in-app and phone support. Customer services is also not available 24/7.

No joint accounts – currently, there are no options available for joint accounts for couples or families.

Quppy

Crypto wallet, multi-currency

Quppy is a neobank from Estonia founded in 2017. It operates as a payment institution with an EMI license. It lets you open personal and business accounts in traditional currencies like EUR or GBP, with an e-wallet for crypto.

Prons

Crypto-wallet integration – you can store, manage, and transfer traditional money as well as crypto like Bitcoin, Litecoin, and Ethereum.

Crypto-to-fiat exchange – easy exchange of the cryptocurrencies into fiat ones directly within the app.

Multi-fiat currencies – you can have an account in EUR, USD, or GBP.

Decentralized – non-custodial wallet where the user has complete control over their private keys

Cross-platform – Quppy is available for iOS, and Android. It also has a web app.

Virtual IBANs – when opening a Quppy account you will also get a European IBAN and can make SEPA transfers and traditional banking features.

Quppytravel.com – the bank offers travel tips on its site.

Cons

Limited banking services – no loans, credit cards, investment products

Fees on crypto transactions – you can easily trade crypto and fiat currencies, but the exchange fees and fees for blockchain transactions can be a drawback.

Customer support – Quppy is quite a new platform, and the support may not be as robust as established banks.

Regulation and trust – funds in Quppy are not protected from insolvency (for example, the FDIC in the US or similar in the EU).

ICard

Fee-free, prepaid cards

ICard is a fintech Bulgarian neobank company established in 2007. It offers free and paid accounts for personal use and one paid plan for business purposes. Some features, like travel insurance, or priority support, are only covered by paid Infinite and Metal plans. It predominantly caters to people living in the European Union.

Pros

Fee-free – great choice for everyone who wants a travel-friendly bank account without the maintenance fees. There are also no fees on domestic transfers.

Prepaid cards – you can have physical and virtual prepaid cards (Visa, or Mastercard). You can make contactless payments with them via mobile phones.

Multi-currency – allows you to hold and manage many currencies, such as EUR, USD, and GBP. It’s well-suited for travelers and people frequently moving between countries, with competitive exchange rates to match.

Instant transfers – like the Revolut, Icard users can quickly transfer money between their ICard accounts.

User-friendly and secure – the mobile app has an intuitive interface, and useful features like freezing and unfreezing cards. There are also strong security measures like the 2-factor authentication.

Cons

Limited Global Acceptance – you can use ICards everywhere around the world. However, some countries may not accept them, unlike traditional credit or debit cards.

Not full bank – like many other neobanks in this article, this one also does not offer loans, credit cards, or overdrafts.

Cash withdrawal limits and fees – although there are some free cash withdrawals every month, they are limited within a plan – for example, up to 5 for Infinite plan or free unlimited for Metal account holders but only in EEA.

Customer support – only the users in paid plans have priority for the 24/7 help desk.