Best UK bank accounts for millionaires
Read our helpful guide to the best UK bank accounts for millionaires, comparing accounts on fees, features, perks and eligibility.
Best online banks in Europe: Top 7 options
There are lots of great online banks in Europe, including Revolut, N26 and Monzo. These providers offer handy digital solutions for customers looking to expand their horizons.
We’ll take a look at the 7 best online banks in Europe, including key features, fees and exactly how to open an account. We’ll also introduce Wise – an electronic money provider, and a non-bank alternative used for managing your money on the go globally. Read on to find out more.
What is an online bank?
An online bank is a fully digital bank. Unlike a traditional bank, an online bank doesn’t typically have in person customer support or the usual branch network.
Online banks offer a range of helpful services and features for customers across Europe, including:
- international transfers
- on-the-go spending
- saving and investing options
- low-fee spending – in the UK or further afield
- apps to track your spending habits
Open an online bank account in Europe to make the most of digital services. You can manage your money, organise your spending and pay across the world – all from an app.
Best online banks in Europe: Overview of the top 7
Let’s take a look at the top 7 best online banks in Europe, comparing each provider’s key features, capabilities and Trustpilot ratings.
| Online bank | Key features | Best for | Trustpilot score |
|---|---|---|---|
| Revolut | - Open an account for free – hold over 30 currencies at once - Earn 5% AER (variable) interest on your money - Get 24/7 customer support - Open a single, joint or under 18 account¹ | Multi-currency spending | 4.3² |
| N26 | - Multiple account plans available - Get a virtual card with your account - Access 24/7 online customer support - 2 free ATM withdrawals per month³ | Spending money in the eurozone | 1.2⁴ |
| Monzo | - Automate or split your bills - Save money with custom Pots - Earn 3.35% AER interest (variable) - Get detailed insights into your spending habits⁵ | Flexible digital account options | 4.5⁶ |
| Monese | - Open an account in any of the countries of the European Economic Area (EEA)⁷ - Set weekly and monthly budgets online - Link your Avios and PayPal accounts to track your money in one place - Order a contactless Mastercard debit card⁸ | Budgeting and spending insights | 4.2⁹ |
| Bunq | - Open an account in just 5 minutes - Get account details in multiple countries for easy payments - Earn up to 2.67% interest on your savings - Upgrade to a Bunq Core, Pro or Elite account¹⁰ | Receiving money in multiple European countries | 4.0¹¹ |
| Starling Bank | - Manage and track your spending via the Starling Bank app - Open an Easy Saver account to put money aside for the future - Organise your money in accounts and pots - Split bills with friends and family¹² | Managing and organising your money | 4.2¹³ |
| Tomorrow | - Get a free Visa debit card for online and in person payments - Deposit cash at one of Tomorrow’s partner stores - Sustainable banking that does some good¹⁴ | Sustainable banking | 4.0¹⁵ |
Revolut
Revolut is a digital banking service for customers across the world. You can use your Revolut account to pay friends and family, hold multiple currencies at once, open a joint account or earn interest on your money.¹
It’s easy to open a Revolut account – simply download the app to start your online application. The provider will check your identity and verify your account.¹⁶
However, it’s important to look out for Revolut’s international fees. Standard account holders are limited to 1000 GBP per month fee-free currency exchange.
After that, the provider will charge their own currency exchange rate for foreign transactions. You may also need to pay a fee for some international transfers, so make sure to look into these costs before using your account.
Revolut charges for some exclusive features. To access features like priority in-app chat customer support and free international transfers, you’ll need to sign up for a paid plan. These plans range from 3.99 GBP to 45 GBP per month.¹⁷
N26
N26 is one of the best online banks in Europe. You can get a free virtual card with your account, as well as 24/7 chat support³ and ATM withdrawals in some European countries.¹⁸
You can use your N26 account to send, spend and save – all online. To open your account, simply go to the N26 website or download the app.³
It’s free to open a N26 Standard account, but you may want to upgrade to a N26 Smart, You or Metal account to get exclusive features, such as more free euro ATM withdrawals per month.
These plans come with monthly subscription fees ranging from 4.90 EUR to 16.90 EUR** per month.¹⁹ You’ll also need to pay a 10 EUR one-time fee to order a physical card **for your digital N26 account.³
Monzo
Monzo is a popular online bank for UK customers. You can use your Monzo account to organise your spending, send and receive transfers, automate your bills and manage your transactions online.⁵
It’s easy to open a Monzo account. Simply download the Monzo app and follow the on-screen prompts to create your account. You’ll also need to go through a digital ID check to prove your identity and verify your account.²⁰
Monzo doesn’t charge for international payments. However, you’ll pay Mastercard’s exchange rate to spend abroad. The provider may add a markup to the standard mid-market exchange rate for currency conversion – so keep an eye out for added costs.
You may also need to pay to withdraw money from a global ATM, but this can depend on your account. Monzo Plus account holders get unlimited fee-free withdrawals in the UK and EEA, for example.²¹
Monese
Monese is an online money transfer service available in many European countries, including any of the countries in the EEA.
You can use your digital Monese account to:
- build your credit history and savings
- get real-time spending notifications for your account
- instantly top up your accounts and cards for on-the-go spending⁸
Simply download the free Monese app to get started. You can get the app in the iOS Apple store, Huawei AppGallery or Google Play store.²²
However, there are a few fees to look out for. Monese charges for some transactions. For example, you’ll pay 1% per Instant Card top up using your Monese Simple account.
You’ll also pay 1 GBP per outgoing domestic transfer. This includes any transfers that aren’t between Monese accounts.
Monese also charges a currency exchange fee for outgoing international transfers. These fees start from 2% per transaction.²³
Bunq
Bunq is a Dutch online bank that aims to provide free, seamless financial solutions for customers in Europe.
You can use your Bunq account to:
- send money with Wise²⁴
- open and manage up to 25 accounts at once
- choose exactly where to invest your money
- earn Bunq rewards points for spending with your card
It’s easy to open a Bunq account – and you can do it from your phone. You’ll just need to pass through an ID check to verify your identity.¹⁰
You’ll pay Mastercard’s exchange rate (including 0.5% for currency fluctuation) for global purchases using your Bunq card.²⁴
You’ll also pay to upgrade your account and access exclusive features, so make sure to look into these fees before applying.¹⁰
Starling Bank
Starling Bank is an online UK bank. You can use your digital Starling Bank account to pay your bills, split your payments and save money for the future.
The provider aims to help you keep on top of your money, with detailed information about your spending habits and real-time notifications whenever you spend.¹²
It’s easy to sign up for a Starling Bank account online. You’ll just need to answer a few questions and verify your identity.
It’s free to send and receive money in the UK. However, the bank uses its own exchange rate for international transfers – and this may include a markup.
You’ll also pay Mastercard’s currency conversion rate for purchases made outside the UK.²⁵
Tomorrow
Tomorrow offers simple, digital banking services for eco-conscious customers. You can spend, save and invest your money via the Tomorrow app.
You can also use Tomorrow to:
- get flexible overdraft options added to your account²⁶
- deposit cash at one of Tomorrow’s partner stores
- order a free Visa debit card to spend online or in person
It’s free to open a standard Tomorrow Now account, but there are a few paid Tomorrow account plans, including Change and Zero.
You’ll pay 17 EUR per month for your Zero account, but you can access exclusive features like unlimited free ATM withdrawals and sub accounts.¹⁴
Make sure to carefully check the eligibility criteria for these online banks before signing up for an account. Some banks may have specific requirements to apply.
FAQs about online banks
Let’s take a look at some common questions about online banks – everything you need to open an account.
What is an alternative to Monzo in Europe?
Monzo is a popular choice for UK customers in need of digital financial solutions. However, there are a few alternatives to Monzo in Europe, including Revolut, Starling Bank and Bunq.
Monzo is a good choice for tracking your spending, but the Revolut app may be better if you need to send money abroad.
What is the best online bank in Europe?
The best online bank in Europe will depend on what you need from your account.
If you want to send money abroad, choose Revolut to hold multiple currencies at once. Check out Tomorrow for eco-friendly digital solutions.
It’s important to look into the eligibility criteria and requirements for your bank to ensure you can sign up for an account.
Can I open a bank account online?
Yes, many banks offer online services. Some banks, like Bunq, N26 and Revolut, offer fully-digital banking, rather than relying on a traditional branch structure.
You can use your online bank account to access exclusive digital features. Send and receive money, track your spending and use your debit card to make payments online or in person.
Can I use my online bank abroad?
Many online banks let customers send and spend money abroad. You can use your Revolut account to hold over 30 currencies, for example.
However, make sure to look into any fees for foreign payments. Some providers charge for foreign currency transactions – and many online banks add a markup to the standard rate for currency conversion.
Manage your money internationally with Wise – an electronic money provider and non-bank alternative
Online banks are fast becoming a popular choice for customers in Europe and further afield.
You can use your account to spend in the UK or abroad, with apps like Monzo and Starling Bank offering a range of online features for customers in Europe.
However, many online banks charge for currency conversion. These costs can add up, especially if you regularly spend money overseas. Make sure to look into the hidden costs of using your new online bank account.
If you’re interested in alternatives to bank accounts, the Wise account from the money services provider Wise could be a good option for you. Even though this is not a bank account, it offers some similar features.
With a Wise account, you can start managing your money in GBP and dozens of other currencies. There are no monthly fees and Wise carries out all foreign currency exchanges at the mid-market exchange rate, only adding a tiny, transparent exchange fee*.
What’s more, you can also get a Wise card for a one-time payment of £7 or get the virtual card for free to spend abroad like a local, saving money in the process.
Learn more about the Wise account 💰
Sources used:
Sources last checked on date: 18-Feb-2025
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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