Is Nubank available in Europe? Alternatives for 2024 (2024)

Founded in 2013 in São Paulo, Brazil, Nubank has since experienced significant growth, currently boasting over 100 million users across South America and supported by a team of over 6,000 employees.

Nubank’s standout feature is its no-fee credit card, which has become immensely popular due to its simplicity and ease of use. Additionally, Nubank offers personal loans with competitive rates and an innovative rewards program, Nubank Rewards, that allows users to earn points for every purchase and redeem them for a variety of benefits, including travel and entertainment.

In this article, we will uncover Nubank’ availability and expansion plans in Europe, as well as provide alternative solutions.

As the world of digital banking evolves, European residents looking for sophisticated and user-friendly banking platforms have a variety of options. Nubank has gained popularity in Brazil for its no-fee banking services and features like early direct deposit and automatic savings. However, Nubank is not available in Europe.

This article explores the top Nubank alternatives accessible to Europeans who wish to benefit from innovative digital banking services. We will look at the best neobanks that cater to the unique needs and preferences of European users, offering features such as low fees, seamless transactions, and comprehensive mobile banking solutions.

Whether you are a seasoned user or just getting started, keep reading to learn about the best options for managing your finances efficiently.

• Revolut
• N26
• Monese

Revolut was founded by Vlad Yatsenko and Nikolay Storonsky, former financial engineers, with the aim of creating an intuitive platform for international money transfers. Since its inception, the company has experienced significant investment, with a valuation of $1.7 billion after raising $250 million in 2018.

In addition, Revolut’s name reflects its ambition to revolutionize banking services, and its success is evident from its vast customer base and a presence in 152 cities with 152 payment options and money transfer solutions in 30 currencies.

• Account options: Revolut offers 5 different plans for current accounts (also business and junior accounts), providing you with a tailored plan for your needs.
• Savings interest rates: Up to 4.75% annual interest on your savings (depending on the plan).
• Minimum Deposits:There is not a minimum amount required to start an account.
• Asset Classes: You can invest in Stocks, Commodities and Crypto
• Funding Options: You can fund your account with Revolut from Europe through bank transfers, credit / debit card payments or via OnlineBanking apps.
• Additional Costs: Besides the monthly plan, there are also transfer fees, ATM withdrawal fees and currency exchange rates (everything depending on your plan).
• Platform: Designed for user convenience and efficiency, providing a comprehensive suite of financial tools in a single, intuitive interface. The app supports various functions including banking, budgeting, investing, and currency exchange.
• Security: Revolut Bank UAB, is authorised by the European Central Bank and the Bank of Lithuania. All European customers’ funds are protected by the Lithuanian State Company “Deposit and Investment Insurance”. As a result, Revolut customer deposits in Europe are insured up to a maximum of EUR 100,000.

N26 was founded by Valentin Stalf and Maximilian Tayenthal, driven by the vision of creating a seamless and modern banking experience. Since its inception, the company has attracted significant investment, reaching a valuation of $3.5 billion after raising $570 million in its 2019 funding round.

In addition, N26’s name reflects its ambition to redefine the banking landscape, and its success is evident from its large customer base and presence in 25 countries. With its intuitive mobile app and focus on transparency and convenience, N26 continues to expand its offerings, making it a leading choice for digital banking solutions.

• Account options: Revolut offers 4 different plans for current accounts (also business accounts), providing you with a tailored plan for your needs.
• Savings interest rates: Up to 4% annual interest on your savings (depending on the plan).
• Minimum Deposits:There is not a minimum amount required to start an account.
• Asset Classes: You can invest in Crypto
• Funding Options: You can fund your account with N26 from Europe through bank transfers, credit / debit card payments or via OnlineBanking apps.
• Additional Costs: Besides the monthly plan, there are also ATM withdrawal fees and other fees with everything depending on your plan.
• Platform: Designed for user convenience and efficiency, providing a comprehensive suite of financial tools in a single, intuitive interface. The app supports various functions including banking, budgeting, investing, and currency exchange.
• Security: As a fully-authorized financial institution, N26 operates as a fully lincensed German Bank. That means having the same security regulations as any other bank. It also means your funds are protected up to €100,000 by the German Deposit Protection Scheme. In fact, N26 policies are designed to ensure the protection of personal information.

Monese was founded by Norris Koppel, driven by the vision of creating an accessible and modern banking experience. Since its inception, the company has attracted significant investment, reaching a valuation of $1 billion after raising $60 million in its 2020 funding round.

In addition, Monese’s name reflects its goal to provide a fresh approach to banking, and its success is evident from its large customer base and presence in multiple countries. With its intuitive mobile app and focus on simplicity and convenience, Monese continues to expand its offerings, making it a top choice for digital banking solutions.

• Account options: Revolut offers 3 different plans for current accounts (also business accounts), providing you with a tailored plan for your needs.
• Extras:Credit builder, personal loans options,Paypal and Avios account integration.
• Minimum Deposits:There is not a minimum amount required to start an account.
• Funding Options: You can fund your account with Monese from Europe through bank transfers, credit / debit card payments or via OnlineBanking apps.
• Additional Costs: Besides the monthly plan, there are also money transfer fees, foreign currency exchange, ATM withdrawal fees and other fees with everything depending on your plan.
• Platform: Designed for user convenience and efficiency, providing a comprehensive suite of financial tools in a single, intuitive interface. The app supports various functions including banking, budgeting, investing, and currency exchange.
• Security:Unlike mainstream banks,your money isn’t covered by the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 of savings if a provider goes bust. However, Monese is regulated by the Financial Conduct Authority as a registered agent of electronic money institution PrePay Solutions, which follows Electronic Money Regulations.

Although Nubank is not accessible in Europe, there are still plenty of other options available to assist people in achieving their financial objectives. There are local and global solutions available, each catering to a different desire and set of financial goals.

Having said so, always remember that choosing the best neobank depends on your personal goals and financial situation, so it’s essential to stay informed about the latest developments and explore the ever-expanding range of financial tools available.

We hope we helped you in your search for the Best Alternatives for Nubank in Europe.