Best online banks and providers in Europe - 2025
Digital banks and alternative specialist providers all operate online and through apps, without a physical branch network.
Generally, digital first providers are convenient to use, and can keep costs down compared to banks which have extensive physical branch networks to run. If you prefer to manage your money without leaving home anyway, checking out online banks in Europe makes a lot of sense if you’re a New Zealand resident transacting in euros or other European currencies - or if you’re a resident of Europe already.
In this guide we’ll cover some digital account providers which are available for New Zealand residents, and which offer European currency features, like Wise and Revolut, alongside some options for people with European residence such as N26, Monese, and Bunq. Let’s dive in and see how they all measure up side by side.
Quick summary:
In this article we've reviewed a mix of best online banks in Europe, as well as a few non-bank providers available in Europe today:
Wise: Hold and spend 40+ currencies including most European currencies, with a multi-currency debit card, with no ongoing fees and mid-market exchange rates
N26: EUR account offered to residents of many European countries, with no foreign transaction fees and various accounts and cards to pick from
Bunq: Various different plans and cards to pick from including some with account details to get paid from multiple European countries seamlessly
Revolut: Many major European currencies supported for holding and exchange, choice of 3 different plans with a card for payments and withdrawals
Monese: Accounts have multi-currency features and are available in the 30+ countries of the EEA and the UK - some accounts have no monthly fees
Benefits of digital banks
While account products and services can vary depending on the provider you pick, you’ll usually find that digital banks and non-bank providers come with lots of great benefits - and often some features you won’t find with a New Zealand bank account. Here are a few features and benefits you may be able to unlock if you open a digital bank account in Europe:
Hold and exchange EUR and other European currencies
Get local receiving accounts for getting paid by others in European currencies
Spend and make cash withdrawals conveniently in Europe
Access low overall fees and great exchange rates from digital services
Manage NZD alongside other currencies, to keep all your finances in one place
Best online providers in Europe
Let’s kick off with an overview of some of the best online and digital banks and non-bank alternative providers available in Europe today. We’ve picked out a mix of options which could be of help, depending on where you’re based and the specific account features you’re looking for. There’s more about each provider coming up in just a moment, to help you decide if one of these is right for your unique needs:
| Wise | Revolut | N26 | Monese | Bunq | |
|---|---|---|---|---|---|
| Account | Wise Account - supports 40+ currencies in total | Revolut Account (3 account plans are available) - supports 25+ currencies in total | N26 Account (different plans and cards available) - EUR and GBP supported | Monese Account (different plans and cards available) - currencies may vary depending on where you are | Bunq Account (different plans and cards available) - supported currencies may vary by account plan |
| Account details | Local account details for NZD and 8 other currencies including EUR, GBP, and HUF | Not specified | German IBAN for EUR payments | EUR, GBP and RON, plus multi-currency IBAN | Available to receive payment from many European countries - but you may need to upgrade to a 9.99 EUR/month account plan |
Supported European Currencies | Most European currencies supported including all those above, CHF, DKK, BGN and more | Supports around 13 European currencies including NZD, EUR, GBP, RON, and HUF | EUR | Depends on your location | Currency options may vary by account plan |
| Debit card | Available for spending in 150+ countries | Available for spending in 150+ countries | Available for multi-currency spending | Available for multi-currency spending | Available for multi-currency spending |
| Account fees | No ongoing fees; currency exchange from 0.35% | Account fees from 0 NZD to 19.99 NZD/month | Monthly fees from 0 EUR - 16.90 EUR, depending on account selected | 0 EUR - 14.95 EUR per month - fees may also vary based on location; card order fees may also apply | 0 EUR - 18.99 EUR/month depending on the plan you pick |
| Exchange rates | Mid-market exchange rate | Mid-market exchange rate to plan limit, then fair usage fees apply Out of hours conversion fees may apply | Network rate for card payments, mid-market rate for international transfers, powered by Wise | Monese rate for money transfers may include a fee starting from 2%, spending an unsupported currency has a fee of 2% - conversion in both cases uses the wholesale exchange rate | May depend on the account and card you select - in some cases you can spend with the network rate and no extra fee |
The good news is that you’ve got plenty of options for online banks in Europe, and can choose based on your preferences, spending habits and location. Providers like Wise and Revolut have the benefit of very broad currency options, with low costs and the option to open from either New Zealand or from Europe. Other digital banks in Europe often require you to have an address in one of their supported countries, which are likely to be in the EEA, and sometimes the UK.
Let’s look at each of the providers we’ve picked out one by one now:
Wise
Best features of Wise: Hold and spend 40+ currencies including most European currencies, with a multi-currency debit card, with no ongoing fees and mid-market exchange rates
Wise is a non-bank provider which is available more or less globally, and which is trusted by 16 million+ customers around the world. Wise does not hold a European banking license, but it is fully licensed as a money service business or money transmitter, depending on the country and services available.
Open and manage a Wise account online or in the Wise app from New Zealand, or from most other countries in the world, using your local ID wherever you call home. Wise accounts can hold and exchange 40+ currencies, and currency exchange uses the mid-market exchange rate with low fees from 0.35%. Most European currencies are supported for holding and exchange, and you can get local account details to receive EUR, GBP, and HUF, as well as NZD, too.
Manage your money day to day with Wise by getting a Wise debit card for easy spending and withdrawals in 150+ countries. You’ll get some free ATM withdrawals every month before the low Wise withdrawal fee begins, and can either convert your balance to the required currency in advance or at the point of payment.
If you’re based in Europe, check out the Wise account features and fees based on your location.
Account details: Local account details for NZD and 9 other currencies including EUR, GBP, and HUF
Account fees: No ongoing fees; currency exchange from 0.35%
Wise exchange rate: Mid-market exchange rate
| Wise Pros | Wise Cons |
|---|---|
✅ Hold and exchange 40+ currencies ✅ Mid-market exchange rates ✅ Most European currencies supported for holding, several also have local account details including EUR and GBP ✅ No annual or ongoing fees ✅ Spend and withdraw in 150+ countries | ❌ Currency conversion costs from 0.35% apply ❌ Some ATM fees apply once you exhaust your fee free allowance ❌ Does not hold a European banking license |
Revolut
Best features of Revolut: Many major European currencies supported for holding and exchange, choice of 3 different plans with a card for payments and withdrawals
Revolut is a large financial service provider which operates mainly through its app, and provides accounts for people in New Zealand, Eurozone, and other countries including the UK, Singapore and the US. In Europe, Revolut holds a banking license in its own right - in some other countries its licensing terms vary, but it’s safe to use globally.
Revolut has 3 different plan options in New Zealand, including the Standard plan with no ongoing fees, and 2 higher account tiers with costs up to 19.99 NZD/month. Higher account tiers get more features and higher no fee transaction limits, but all plans have some week day no fee currency conversion included. There’s no fee to spend a currency you hold in your account, and depending on the account tier you may also get some no fee ATM withdrawals, too.
If you’re based in Europe, check out the Revolut plans available based on your location.
Account details: Not specified
Account fees: Account fees from 0 NZD to 19.99 NZD/month
Exchange rate: Mid-market exchange rate to plan limit, then fair usage fees apply; Out of hours conversion fees may apply
| Revolut Pros | Revolut Cons |
|---|---|
✅ Hold and exchange multiple currencies including major European currencies ✅ Different account options to pick from ✅ Holds a banking license for Europe ✅ No fee to spend a currency you hold - and some weekday no fee conversion offered ✅ Spend with your Revolut card in 150+ countries | ❌ Ongoing fees apply for the higher tier accounts ❌ Out of hours conversion fee of 1% applies to all accounts ❌ No branch network |
N26
Best features of N26: EUR account offered to residents of many European countries, with no foreign transaction fees and various accounts and cards to pick from
N26 has a German banking license and operates over many European countries, offering EUR account and card services. You’ll need to be a resident of a supported country to apply, but you can then set up your account online easily, to start spending with your debit card.
N26 accounts are available with 4 different cards - the card you pick will determine the monthly account fees you pay, from nothing to 16.90 EUR a month for the top tier Metal card and account. Higher tier accounts have extras like travel insurance, while the most basic account has no monthly fee but only offers a virtual card - making it tricky to get cash from an ATM. You’ll also find varied free transaction limits based on the account tier you select - if you transact often, getting an account with a monthly fee might be worthwhile thanks to more free ATM withdrawals at home and abroad, and extra perks.
Account details: EUR account details - a German IBAN usually
Account fees: Monthly fees from 0 EUR - 16.90 EUR, depending on account selected
Exchange rate: Network rate for card payments, mid-market rate for international transfers, powered by Wise
| N26 Pros | N26 Cons |
|---|---|
✅ Full European banking license ✅ Available across many European countries ✅ 4 different account tiers - all accounts have a debit card linked to them ✅ No foreign transaction fees ✅ Mid-market exchange rate international payments available through partnership with Wise | ❌ To get a physical card you must pay an ongoing account fee ❌ Some transaction fees apply |
Monese
Best features of Monese: Accounts have multi-currency features and are available in the 30+ countries of the EEA and the UK - some accounts have no monthly fees
Monese is not a bank, but it’s a non-bank alternative offering various account and card products and services more or less throughout Europe.
Monese is available for customers in the UK and EEA, although some of the features and fees may vary depending on where you base yourself in Europe. You can get European account details and a multi-currency IBAN to receive payments from others, a linked debit card for payment and withdrawals, and different features and fees depending on the account plan you pick. This gives flexibility for you to choose the account plan and any required add-ons based on your normal spending habits.
Account details: EUR, GBP and RON, plus a multi-currency IBAN on payment of a subscription - with this you can receive payments from abroad, which are converted by Monese to deposit to your account’s primary currency
Account fees: 0 EUR - 14.95 EUR per month - fees may also vary based on location; card order fees may also apply
Exchange rate: Monese rate for money transfers may include a fee starting from 2%, spending an unsupported currency has a fee of 2% - conversion in both cases uses the wholesale exchange rate
| Monese Pros | Monese Cons |
|---|---|
✅ Receive payments in multiple European currencies ✅ Available in the UK and EEA ✅ Different account plans depending on your preferences and habits ✅ All accounts have linked cards for payments and withdrawals ✅ Broad range of products and services offered | ❌ Features of accounts vary based on where you live ❌ Card order fees and foreign transaction may apply ❌ Ongoing fees apply for higher tier accounts |
Bunq
Best features of Bunq: various different plans and cards to pick from including some with account details to get paid from multiple European countries seamlessly
Bunq holds a European banking permit issued by the ECB, and has account and card services for customers in many European countries. Not all European countries are supported - so you’ll need to double check the details based on your residence.
Bunq accounts come in several different types, from a basic account with no fee, to higher tier accounts with extra options. To make the most of international features and get local banking details to be paid by others in Europe you may need to upgrade to a 9.99 EUR a month account. Some cards offer cash back on spending, and there’s an environmentally friendly account option which lets you plant trees as you spend, too.
Account details: Available to receive payment from many European countries - but you may need to upgrade to a 9.99 EUR/month account plan
Account fees: 0 EUR to 18.99 EUR/month depending on the plan you pick
Exchange rate: May depend on the account and card you select - in some cases you can spend with the network rate and no extra fee
| Bunq Pros | Bunq Cons |
|---|---|
✅ Different accounts to pick from ✅ Some Bunq accounts let you receive money from other European countries easily ✅ All accounts have a card for spending and withdrawals ✅ Offered across much of mainland Europe ✅ Environmentally friendly account option available | ❌ Account plans vary very widely in terms of features ❌ Transaction fees are likely to apply |
Here we’ve picked out some great digital banks in Europe to start your research. However, there are more options out there - which is best for you might depend on where you are and the specific type of account you want. Some alternatives include:
Starling bank
- for UK based personal and business customers
Vivid Money
- business account services available
Holvi
- accounts for solopreneurs and small businesses
As the digital finance space is constantly expanding, it’s not possible to list out all the digital banks in Europe here - use this guide for some inspiration and to help you start your own research to find the right product for your needs.
How to choose the right digital bank for your needs
Different digital banks have very different features and eligibility requirements. You’ll want to look at each carefully - alongside the fee schedules for accounts you’re interested in, before you pick the right one for you. Here are a few things to consider:
Are you eligible for the account? Some online banks in Europe are only open to residents in Europe with a valid local address. Others, including Revolut and non-bank alternatives like Wise, allow you to manage European currencies even without having an EEA address
Does the account let you hold and manage NZD as well as the European currencies you need? If you’re a New Zealand citizen or resident, the chances are that you’ll still need to transact in New Zealand dollars from time to time, even if you move to Europe. Accounts with broad multi-currency functions can help
Do you have to pay an ongoing fee? If you’re not sure about whether or not you’ll use your European account frequently you won’t want to be tied into ongoing fees. Options from providers like Wise and Revolut are available with no monthly fees, or you can choose a basic account from a European bank if you’d prefer
What are the fees for transactions you need to make often? All financial services have fees - but checking that the types of transactions you’ll need to make frequently are cheap or free can mean you pay less in the end
How to open an online bank account in Europe
The process to open an online bank account in Europe will vary depending on the bank or non-bank provider you pick. However, one common factor is that the whole process from application, to verification and onboarding, will be completed online or in an app - with no need to leave home. You’ll usually need a valid government issued ID and a proof of address.
To give an example, let’s look at how the process works with Wise - a specialist provider you can use as a non-resident of Europe, and still hold, exchange, send, spend and receive major European currencies:
Download the Wise app or open the desktop site and tap Sign up
Register by entering your personal and contact details
Follow the prompts to upload your ID and proof of address for verification
Once your account is verified you can start to transact
Conclusion: What is the best digital bank in Europe?
Europe is well served by digital banks and specialist alternatives which let you access account details to hold, receive, send and spend euros. Depending on the provider you pick you may get a card for easy payments and withdrawals, mid-market exchange rates, and ways to hold and exchange NZD and a broad range of other currencies all in the same place.
Use this guide to start your research - if you’re still in New Zealand, global providers like Wise and Revolut can be a particularly good pick. Both offer accounts to New Zealand residents which can hold and exchange NZD and EUR - and plenty of other currencies too. You may also be able to choose an account with no monthly fee to pay, get a debit card, and exchange at the mid-market exchange rate - making transacting in Europe both cheaper and easier.