Neobanks are driving this revolution of digitization by replacing traditional banking services with innovative financial solutions.
Neobanks are online-only financial institutions that provide banking services, having fewer physical branch overheads.
Designed with convenience and low fees in mind, these digital-first platforms continue to gain more and more speed for both individuals and businesses.
While businesses are still navigating their journey of digital transformation, choosing the best neobank for business transactions stands central.
The paper discusses the best neobanks that conduct business transactions in various parts of the world: Asia, Europe, the UAE, North America, and South America.
We shall also touch on neobanks for teenagers, as these platforms are becoming popular for younger clientele who want to manage money early in their lives.
What are Business Neobanks?
Business neobanks are fully digital financial institutions that cater to the needs of businesses with a comprehensive suite of banking services.
Commonly, they offer business current accounts, international payments, expense management, invoicing, and lots more.
Most neobanks provide high-level technology: smooth integration with accounting software, quick international transfers, and very intuitive mobile applications.
From a business perspective, neobanks may have one or two advantages over traditional banks:
- Lower fees: Neobanks are less overhead-intensive and, therefore, can charge competitively for business accounts.
- Faster services: Because there are no branches, transaction and payment processing will be much quicker.
- Tech-rich features: The integration of accounting software, CRM, and e-commerce by many neobanks allows smooth facilitation of business processes.
Best Neobanks for Business in Asia
In Asia, neobanks are quickly gaining traction, especially in regions like Southeast Asia and India, where mobile-first banking is a growing trend.
- Walcy (Singapore & Hongkong):
Walcy is the best neobank for businesses in Asia because it offers easy-to-use financial tools and supports multi-currency accounts for smooth local and international payments.
It helps businesses grow with quick loans, low fees, and simple account setup. The platform is secure, reliable, and works well with popular accounting software.
With features designed for Asia’s unique needs, Walcy makes managing business finances simple and efficient.
Read about: Best Multicurrency Account: What Is It And How It Works?
- N26 (Singapore and Hong Kong)
Although Germany is the base where N26 was originally founded, it has expanded to Asia, particularly Singapore and Hong Kong, which makes it a strong contender for businesses operating within the region.
N26 provides multi-currency accounts with competitive exchange rates, along with instant payments.
The platform integrates with the most popular accounting tools, such as Xero and QuickBooks, to make things easier for your business.
- Digibank by DBS (India)
Digibank by DBS Bank is one of the largest banks in Southeast Asia, headquartered in India.
The platform has seamlessly integrated business banking, inclusive of business accounts, payments, and value-added cash management services.
Because of its integration with corporate cards, it will be a great choice for SMEs when looking into expense management tools.
- UOB Mighty Business (Singapore)
UOB Mighty Business is the full mobile banking for businesses provided by the UOB. This application will provide a way for businesses to pay, manage various accounts, and track business expenses in one place.
Besides that, UOB Mighty provides multi-currency transaction support, which makes it very useful for businesses operating globally.
Best Neobanks for Business in Europe
Europe stands as one of the most developed markets for neo-banks. Several fintech companies offer customized business solutions in this region.
- Revolut for Business (UK)
London-based Revolut is one of the most popular neobanks in Europe, but it also provides extensive services for businesses.
Under Revolut for Business, services offered include multi-currency accounts, expense management tools, team cards, and global payments.
It also offers an intuitive dashboard with financial insights, hence ideal for international businesses.
Read about: Expanding Business Internationally: Must Know Things
- TransferWise Business (UK)
Wise (formerly known as TransferWise) offers a business account for companies to send and receive international payments with much lower and very affordable fees.
It supports over 50 currencies. It is ideal for businesses whose customers are spread across the globe.
This platform is especially famous among freelancers, small businesses, and startups due to its low-priced international transfers.
Read about: Make Freelancers Payment; Best Methods and Process (2024)
- Bunq (Netherlands)
Bunq is a Dutch neobank, which has gained remarkable attention due to its unique services in business banking.
It features multi-business accounts, auto-saving, and expense tracking. Additionally, cross-border payments are supported, and it integrates with accounting software seamlessly.
The user-friendly mobile application makes managing finance on the go pretty simple and quick.
Best Neobank for Business in UAE
So, the fact that UAE has a huge number of tech-savvy entrepreneurs allows neobanks to target them with business solutions.
- Mashreq Neo (UAE)
Mashreq Neo is an e-banking solution by one of the biggest banks in the UAE, Mashreq Bank.
The account provides a business current account, digital ways of making and receiving payments, and a corporate credit card.
Mashreq Neo allows business owners to access and manage their finances from anywhere through seamless mobile experiences.
But with its very simple onboarding process and accounting software integrations, it becomes pretty appealing to businesses in the UAE.
- Liv. (UAE)
Emirates NBD launched a mobile-only bank known as Liv. This neo-bank focuses on simplifying financial services for businesses and entrepreneurs.
It has an intelligent mobile banking platform that equips owners with tools for account management and expense tracking toward efficient payment.
It especially features among the most popular neo-banks in the UAE’s SMEs and startups.
Read about: Essential Financial Services for Business | Must Know Things
Best Neobank for Business in North America
North America is currently the hotbed for fintech innovation, from where a host of neobanks offer solutions for enterprises of every scale.
- Chime (USA)
Chime is one of the most well-known neo-banks in the US, loved for its ease and no-fee structure.
For businesses, Chime offers no-fee maintenance accounts, along with tools to manage payments cash flow, and budgeting.
Its integration with accounting platforms like QuickBooks makes it very easy to use for small business owners.
Read about: International Payment Fees | The Essential guide.
- Brex (USA)
Brex is a FinTech company that, structurally, provides startups and scaling businesses alike with financial services.
It offers business credit cards that require no personal guarantee. It is integrated into accounting software such as QuickBooks and Xero.
With its user-friendly dashboard and expense management features, Brex offers flexible financing options for companies looking for easier alternatives.
- Qonto Canada
Qonto is a neobank based in France, but it also operates in Canada. The neobank boasts multi-user access, an easy-to-use mobile application, and decent expense tracking features.
Qonto targets small businesses, startups, and freelancers as its core clientele, hence providing access to all kinds of corporate banking services, ranging from digital invoicing to international transfers.
Read about: Top 8 Fintech Trends of 2024 & 2025
Best Neobank for Business in South America
Neobanks with innovative solutions for enterprise market needs have emerged across the South America region.
- Nubank-Brazil
Nubank is one of the biggest neobanks across the Latin American continent. Its business accounts are targeted at SMEs and freelancers alike.
Nubank offers competitive pricing, speedy onboarding, and native integration with local accounting platforms.
Being digital by nature, it has made management for businesses in Brazil very easy.
- Banco Inter (Brazil)
The other very well-known neobank of Brazil, Banco Inter has given value-added business solutions.
No-fee digital business accounts, international payments, and integrations with accounting software make it very unique.
Banco Inter will be ideal for those businesses that want ease and powerful digital banking solutions.
- Ualá (Argentina)
Uala is a popular neobank from Argentina, now expanding across Latin America.
Uala offers a very friendly app to manage business accounts, make payments, and issue invoices.
Since Ualá focuses on low fees and ease of use, it is a good fit for small businesses in the area.
Neobanks for Teens
While neobanks are gaining popularity, they do not forget younger generations.
Neobanks for teens will help young people learn financial literacy and provide a safe, low-risk environment to manage their funds.
- GoHenry (USA and UK)
GoHenry is another well-known neobank for teens that provides personalized, parental-controlled prepaid debit cards.
Parents can limit how much their child spends, monitor transactions, and even set chores or allowance jobs with this platform.
Because of this, it’s highly suitable for teaching financial responsibility at a young age.
- Revolut Junior (UK and Europe)
Revolut Junior is a part of the greater ecosystem at Revolut, enabling easy money management by teenagers while learning financial habits.
Parents can oversee their child’s spending and transfer allowances directly into their junior account.
Revolut Junior is available in several European countries, hence it’s accessible to a wide audience.
- Current (USA)
Current is a US mobile bank that offers current accounts for teenagers, which are controlled by the parents.
The teens have their own debit cards, while parents can track how the money is used via the app.
Apart from this, it has provided savings goals, and instant transfers hence becoming an outstanding choice for financial literacy.
Read about: 7 Effective Financial Management Tips For Entrepreneurs
Conclusion
As neo-banks for businesses become popular in every corner of the world, businesses look for more time-efficient and less costly banking.
Besides that, neobanks’ innovative features include lower or no fees, faster transactions, and seamless integrations with accounting software.
Whether based in Asia, Europe, North America, or South America, there is a neobank that can fit specific needs.
Also, with neobanks expanding their services to include teenagers, the younger generation gets a head start on the right ways of managing one’s finances.
It then follows that going into 2025, digital banking at both enterprise and individual levels will be adopted, and neobanks will indeed have a huge role in the future of global finance.
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