Neobank comparison
Compare Monese and Varo Bank side by side: fees, regulation, platforms.
Best for newcomers without local credit history
Monese earns its place as an entry account for new arrivals who cannot yet pass a traditional bank's checks, …
Best US high-yield neobank
Varo is the rare US neobank that holds its own national bank charter, so deposits are directly FDIC insured w…
| Feature | Monese | Varo Bank |
|---|---|---|
| Monthly fee | Free | Free |
| FX markup | 2.50% | 0% |
| Savings APY | - | 5% |
| Currencies | 3 | 1 |
| Card network | Mastercard | Visa |
| Deposit protection | Safeguarded (FCA-authorised e-money) | FDIC up to 250,000 USD (Varo Bank, N.A.) |
| Regulators | - | - |
| Best for | Best for newcomers without local credit history | Best US high-yield neobank |
| Markets & account | ||
Monese
Monese earns its place as an entry account for new arrivals who cannot yet pass a traditional bank's checks, with multi-currency basics built in from day one.
Confirm current fees and rates on the provider's site. T&Cs apply.
Varo Bank
Varo is the rare US neobank that holds its own national bank charter, so deposits are directly FDIC insured while the savings rate stays at the top of the table.
Confirm current fees and rates on the provider's site. T&Cs apply.
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