Neobanks that require identity verification
short answer334 of the 382 neobanks tracked here are full-KYC neobanks. Opening one of these means handing over a government ID — usually a passport or driving licence scan, very often a selfie taken against it — to a regulated company that is then obliged to keep it. The largest by disclosed users are WeBank, PhonePe, Nubank, GCash and Mercado Pago; all 334 are listed below with custody, license and geography.
Opening one of these means handing over a government ID — usually a passport or driving licence scan, very often a selfie taken against it — to a regulated company that is then obliged to keep it. Anti-money-laundering rules across the UK, EU and US require firms to retain identification records for years after an account closes, so the copy does not disappear when you do. That obligation is also why these firms answer requests from law enforcement and government agencies: a documented disclosure process is part of holding the licence. Worth knowing before you open your fifth account.
All 334 full-KYC neobanks
| neobank | type | hq | custody | license / structure | reported users |
|---|---|---|---|---|---|
| WeBank | traditional | Shenzhen, CN | Custodial | Private bank license (CN) | 400M customers (2024) |
| PhonePe | traditional | Bengaluru, IN | Custodial | RBI PPI wallet (e-money issuer) + payment aggregator license (2025); IRDAI insurance broking | 200M MAU (2025) |
| Nubank | traditional | São Paulo, BR | Custodial | Bank licenses BR/MX/CO; US products on Lead Bank while its conditional OCC charter (Jan 2026) is organised | 139M customers (Q2 2026) |
| GCash | traditional | Manila, PH | Custodial | E-money issuer license (EMI-NBFI, Bangko Sentral ng Pilipinas) via G-Xchange Inc.; Mynt group | 94M users (2024) |
| Mercado Pago | hybrid | Buenos Aires, AR | Custodial | Payment/fintech licenses region-wide; pursuing MX bank license | 78M MAU (2025) |
| bKash | traditional | Dhaka, BD | Custodial | MFS license (Bangladesh Bank) | 70M users (2024) |
| OPay | traditional | Lagos, NG | Custodial | Payment licenses (NG) | 60M users (2024) |
| Cash App | hybrid | Oakland, US | Custodial | Via Block's bank + BitLicense | 59M transacting actives (2025) |
| PicPay | traditional | São Paulo, BR | Custodial | Payment institution + bank (BCB) | 58M users (2024) |
| Revolut | hybrid | London, UK | Custodial | UK banking license (2024); EU license (Lithuania) | 50M customers (2025) |
| Banco Inter | traditional | Belo Horizonte, BR | Custodial | Bank; Public (INTR) | 35M clients (2025) |
| PalmPay | traditional | Lagos, NG | Custodial | Mobile money license (NG) | 35M users (2025) |
| PagBank | traditional | São Paulo, BR | Custodial | Bank; Public (PAGS) | 32M clients (2024) |
| Maya | traditional | Manila, PH | Custodial | PH digital bank + EMI + VASP | 30M users (2024) |
| KakaoBank | traditional | Seongnam, KR | Custodial | Internet-only bank license (KR) | 23M customers (2024) |
| Chime | traditional | San Francisco, US | Custodial | Partner banks (The Bancorp, Stride) | 22M members (2024) |
| Nequi | traditional | Medellín, CO | Custodial | Licensed compañía de financiamiento (Superfinanciera Colombia); spun out of Bancolombia's banking license | 20M users (2024) |
| Wise | traditional | London, UK | Custodial | E-money/payment licenses globally | 19M customers (FY26) |
| Monzo | traditional | London, UK | Custodial | UK banking license | 12M customers (2025) |
| TymeBank | traditional | Johannesburg, ZA | Custodial | SA banking license | 10M customers (2024) |
| AEON Bank | traditional | Kuala Lumpur, MY | Custodial | Islamic digital bank license (BNM) | — |
| Airtel Payments Bank | traditional | Delhi, IN | Custodial | Payments bank license (RBI) | — |
| Airtm | hybrid | Mexico City, MX | Custodial | MSB registration (FinCEN, No. 31000329787639); USDC-based dollar wallet | — |
| ALAT by Wema | traditional | Lagos, NG | Custodial | Bank (Wema Bank) | — |
| Albert | traditional | Culver City, US | Custodial | Partner banks (Sutton Bank, Stride Bank; savings via Coastal Community Bank, Wells Fargo) | — |
| albo | traditional | Mexico City, MX | Custodial | IFPE license (CNBV, Mexico, 2022) — e-money institution under Ley Fintech | — |
| Algbra | traditional | London, UK | Custodial | E-money institution (FCA, FRN 952360, UK) | — |
| Allica Bank | traditional | Milton Keynes, UK | Custodial | Full UK banking license (PRA/FCA authorised) | — |
| Allo Bank | traditional | Jakarta, ID | Custodial | Bank (OJK); CT Corp | — |
| AllScale | web3-native | — | Custodial | Self-custodial stablecoin platform; not a bank; compliance and settlement via licensed partners | — |
| Ally Bank | traditional | Detroit, US | Custodial | National bank charter | — |
| Alpian | traditional | Geneva, CH | Custodial | Swiss banking license | — |
| Always.bank | traditional | Birmingham, US | Custodial | FDIC-insured national bank charter (22nd State Banking Company) | — |
| AMP Bank GO | traditional | Sydney, AU | Custodial | Australian ADI (AMP Bank Limited) | — |
| ANEXT Bank | traditional | Singapore, SG | Custodial | Digital wholesale bank (MAS) | — |
| ANNA Money | traditional | Cardiff, UK | Custodial | E-money | — |
| Aspire | traditional | Singapore, SG | Custodial | MPI (MAS) | — |
| Atom Bank | traditional | Durham, UK | Custodial | UK banking license | — |
| Bank Jago | traditional | Jakarta, ID | Custodial | Bank (OJK); GoTo ecosystem | — |
| Bank Zero | traditional | Johannesburg, ZA | Custodial | Mutual bank license (SA) | — |
| Baraka | traditional | Dubai, AE | Custodial | DFSA-regulated investment firm (DIFC, ref. 4153); broker-led model, execution via licensed partners | — |
| Belo | hybrid | Buenos Aires, AR | Custodial | VASP registration (CNV PSAV No. 52, Argentina, Jul 2024) | — |
| Beyon Money | traditional | Manama, BH | Custodial | CBB-licensed payment institution group (Batelco Financial Services: PSP/AISP/PISP; BRS money changer; investment Cl.2) | — |
| BFinance | hybrid | Prague, CZ | Custodial | Czech VASP registration; Marqeta-issued cards | — |
| Binance Card | hybrid | — | Custodial | Jurisdiction-dependent VASP registrations | — |
| Bitget Card | hybrid | — | Custodial | Exchange VASP registrations (Lithuania, Bulgaria, Poland, Czechia); cards via issuer partners (DCS, Fiat24, Immersve) | — |
| Bitnob | hybrid | Lagos, NG | Custodial | VASP applicant under Nigeria SEC's ARIP (approval-in-principle track); licensed partners for rails | — |
| Bitpanda | hybrid | Vienna, AT | Custodial | MiCA (AT); BaFin licenses | — |
| BitPay Card | hybrid | Atlanta, US | Custodial | BitLicense (NYDFS) + FinCEN MSB + 20+ state money-transmitter licenses | — |
| Bitso | hybrid | Mexico City, MX | Custodial | IFPE (MX) + regional VASP licenses | — |
| Bling | traditional | Berlin, DE | Custodial | E-money distributor of Treezor (ACPR-licensed French EMI, Société Générale group) | — |
| Blink | traditional | Amman, JO | Custodial | Bank-owned neobank on Capital Bank of Jordan's banking license | — |
| Blu by BCA | traditional | Jakarta, ID | Custodial | Bank (BCA Digital) | — |
| Bluevine | traditional | Redwood City, US | Custodial | Partner bank (Coastal Community Bank) + sweep-network program banks (up to $3M FDIC); credit line via Celtic Bank | — |
| Boost Bank | traditional | Kuala Lumpur, MY | Custodial | Digital bank license (BNM); Axiata | — |
| BoursoBank | traditional | Paris, FR | Custodial | Bank (Société Générale) | — |
| Branch | traditional | Minneapolis, US | Custodial | Partner banks (Lead Bank; Evolve Bank & Trust); Mastercard debit for workforce payouts | — |
| Branch Intl | traditional | Nairobi/Lagos | Custodial | Microfinance bank license in Kenya (84.9% of Century MFB, CBK-approved 2022); digital lending in NG/IN | — |
| Brex | traditional | San Francisco, US | Custodial | Partner banks | — |
| Brighty | hybrid | Baar (Zug), CH | Custodial | Razz Finanzz AG (CH); crypto via Polish VASP registration (Wireflexion); fiat, IBANs and cards via BaaS partners | — |
| Brookwell | hybrid | New York, US | Custodial | Partner bank: Erebor Bank, N.A. (Member FDIC) | — |
| Brubank | traditional | Buenos Aires, AR | Custodial | Bank license (BCRA) | — |
| buddybank | traditional | Milan, IT | Custodial | UniCredit S.p.A. digital service — operates under UniCredit's Italian banking license (ECB supervised) | — |
| Buenbit | hybrid | Buenos Aires, AR | Custodial | VASP — registered PSAV with CNV (Argentina); stablecoin-focused exchange + card | — |
| bunq | traditional | Amsterdam, NL | Custodial | Dutch banking license | — |
| Bybit Card | hybrid | Dubai, AE | Custodial | VARA (Dubai) + regional | — |
| C24 Bank | traditional | Frankfurt, DE | Custodial | Full German banking license (BaFin); CHECK24 subsidiary | — |
| C6 Bank | traditional | São Paulo, BR | Custodial | Bank license (BCB) | — |
| Cake | traditional | Ho Chi Minh, VN | Custodial | Partner: VPBank | — |
| Carbon | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| Casas Bahia Pay | traditional | São Paulo, BR | Custodial | Banco Central-authorised e-money issuer (Banqi Instituição de Pagamento Ltda); prepaid Mastercard; loans via group credit fintech BNQI SCD | — |
| CEX.IO Card | hybrid | London, UK | Custodial | MSB (FinCEN) + US state money-transmitter licenses; UK FCA cryptoasset registration; EU VASP (Lithuania) | — |
| Chase UK | traditional | London, UK | Custodial | UK subsidiary of JPMorgan | — |
| Chipper Cash | hybrid | San Francisco, US | Custodial | Licensed e-money/payments across Africa (CBN, BoG, BoU, BNR); 40+ US money-transmitter licenses; FCA EMI (UK) | — |
| Cleva | traditional | Lagos, NG | Custodial | MSB registration (FinCEN); USD accounts via licensed FDIC-insured US partner banks | — |
| COCA | hybrid | Dubai, AE | MPC self-custodial | MPC self-custody; e-money card partners (UK/EU) | — |
| Coinbase Card | hybrid | San Francisco, US | Custodial | US state licenses, MiCA; Public (COIN) | — |
| CoinJar | hybrid | Melbourne, AU | Custodial | VASP registrations (AUSTRAC DCE, Australia; FCA cryptoasset, UK); card issued by EML (AFSL 404131) | — |
| Comun | traditional | New York, US | Custodial | Partner bank (Community Federal Savings Bank); Visa debit; FDIC pass-through | — |
| Cora | traditional | São Paulo, BR | Custodial | SCFI license (Central Bank of Brazil, Jul 2024) + payment institution; formerly SCD | — |
| Crypto.com | hybrid | Singapore, SG | Custodial | MiCA CASP, MAS MPI, US MSBs | — |
| Cuenca | traditional | Mexico City, MX | Custodial | IFPE license (CNBV, Mexico, 2021) under Ley Fintech | — |
| Current | traditional | New York, US | Custodial | Partner banks (Choice, Cross River) | — |
| Curve | traditional | London, UK | Custodial | E-money institution (FCA UK, FRN 900926); EEA via Curve Europe UAB EMI (Bank of Lithuania) | — |
| D360 Bank | traditional | Riyadh, SA | Custodial | Digital bank license (SAMA); PIF-backed | — |
| Dakota | web3-native | New York, US | Self-custodial | Self-custodial software | — |
| DANA | traditional | Jakarta, ID | Custodial | E-money issuer license (Bank Indonesia) | — |
| Dave | traditional | Los Angeles, US | Custodial | Partner banks (Evolve Bank & Trust, moving to Coastal Community Bank: new customers onboard via Coastal and existing accounts migrate within 24 months, announced March 2025) | — |
| Daviplata | traditional | Bogotá, CO | Custodial | Operates under Banco Davivienda's Colombian banking license (SFC-supervised) | — |
| Deblock | web3-native | Paris, FR | Mixed (fiat custodial + self-custody crypto) | PSAN + payment institution (ACPR) | — |
| Deel | hybrid | San Francisco, US | Custodial | MSB + US state money-transmitter licenses (DPayments); US wallet via Alviere/CFSB; DLUSD via Bridge | — |
| Discovery Bank | traditional | Johannesburg, ZA | Custodial | SA banking license | — |
| Djamo | traditional | Abidjan, CI | Custodial | Microfinance license (BCEAO / Côte d'Ivoire MEF, Sep 2025 — first fintech); cards with partner banks | — |
| DNERO | traditional | Irvine, US | Custodial | Partner bank: Zenus Bank International (Puerto Rico, OCFI-regulated) holds deposits and issues the Visa debit card; not FDIC-insured; program manager Connect Fintech | — |
| Dolafy | hybrid | Brazil, BR | Custodial | Partner bank: Lead Bank (issuer); Bridge, a Stripe company (program manager) | — |
| DolarApp | hybrid | Mexico City, MX | Custodial | Digital-dollar (USDC) accounts on regulated partner banks' and custodians' rails; rebranded ARQ 2026 | — |
| Douugh | traditional | Sydney, AU | Custodial | Partner banks (Regional Australia Bank; US via Choice Bank) | — |
| El Dorado | web3-native | — | Self-custodial | Self-custodial software | — |
| Enpara | traditional | Istanbul, TR | Custodial | Bank (QNB Finansbank) | — |
| EQ Bank | traditional | Toronto, CA | Custodial | Trade name of Equitable Bank, Schedule I chartered bank (OSFI, Canada); CDIC member | — |
| Esh Bank | traditional | Tel Aviv, IL | Custodial | Bank of Israel banking license (2022) | — |
| eToro Money | hybrid | Tel Aviv, IL | Custodial | Broker-led; e-money institution (eToro Money UK, FCA FRN 900203; eToro Money Malta, MFSA) | — |
| Eversend | traditional | Kampala/Paris | Custodial | E-money issuer + PSP licenses (Bank of Uganda); FinCEN and FINTRAC registrations | — |
| FairMoney | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| FamPay | traditional | Bengaluru, IN | Custodial | Partner bank (IDFC FIRST Bank) — co-branded RBI prepaid payment instruments; RuPay/Visa cards | — |
| Fasset | hybrid | Dubai, AE | Custodial | VARA VASP license (Dubai, broker-dealer); provisional Islamic digital-bank license in Malaysia | — |
| Félix | hybrid | Mexico City, MX | Custodial | US money transmitter — state licenses (NMLS 2302775); agent of UniTeller/Intermex; USDC rails via Bitso | — |
| Fiat24 | web3-native | Zurich, CH | Self-custodial | Swiss fintech license (FINMA) | — |
| Fingo | traditional | Nairobi, KE | Custodial | Partner bank (Ecobank Kenya); Central Bank of Kenya-approved product | — |
| Finom | traditional | Amsterdam, NL | Custodial | E-money institution (FINOM Payments B.V., DNB Netherlands); EU/EEA passporting | — |
| First Women's Bank | traditional | Chicago, US | Custodial | National bank charter | — |
| Flex | hybrid | San Francisco, US | Custodial | Partner banks (Column, Lead, Thread) | — |
| Flouci | traditional | Tunis, TN | Custodial | Partner-bank model — BCT regulatory sandbox (1st cohort, 2020); not a bank | — |
| Flowe | traditional | Milan, IT | Custodial | E-money institution (IMEL, Bank of Italy, 2019); founded by Banca Mediolanum | — |
| Fold | hybrid | Phoenix, US | Custodial | Partner bank (Sutton Bank) issues Fold Visa prepaid card; BTC via Fortress Trust, BitGo-insured custody | — |
| Fondeadora | traditional | Mexico City, MX | Custodial | SOFIPO license (Fondea Technologies S.F.P., CNBV Mexico, ex-Apoyo Múltiple); Prosofipo deposit insurance | — |
| Fortuneo | traditional | Brest, FR | Custodial | Crédit Mutuel Arkéa banking license (ACPR, France); brand of the group's online bank | — |
| Found | traditional | San Francisco, US | Custodial | Partner bank (Lead Bank); FDIC pass-through up to $250k; formerly Piermont Bank | — |
| Freo | traditional | Bengaluru, IN | Custodial | In-house RBI-licensed NBFC; savings and accounts via partner banks (Equitas, Yes Bank) | — |
| Fyrst | traditional | Bonn, DE | Custodial | Brand of Deutsche Bank AG — full German banking license (ECB/BaFin); Postbank rails | — |
| Gemini Credit Card | hybrid | New York, US | Custodial | NYDFS trust | — |
| GetPlu | hybrid | Delaware, US | Custodial | Card program on partner institutions (Crossmint rails); not a bank or custodian itself | — |
| Global66 | traditional | Santiago, CL | Custodial | Prepaid-card e-money issuer license (CMF, Chile); cross-border FX via Global 81 SpA | — |
| GoHenry | traditional | New York/London | Custodial | Partner bank (Community Federal Savings Bank, US); UK cards via FCA-regulated e-money issuer | — |
| GoPay | traditional | Jakarta, ID | Custodial | E-money issuer licensed by Bank Indonesia (PT Dompet Anak Bangsa, since 2014); PJP Category 1; Bank Jago partner | — |
| GoTyme Bank | traditional | Manila, PH | Custodial | PH digital bank license (Tyme x Gokongwei) | — |
| GrabPay | traditional | Singapore, SG | Custodial | Major payment institution (MPI) license (MAS Singapore, PS20200167); e-money issuer | — |
| Grasshopper | traditional | New York, US | Custodial | National bank charter (de novo 2019) | — |
| Greenlight | traditional | Atlanta, US | Custodial | Partner bank (Community Federal) | — |
| Greenwood | traditional | Tulsa, US | Custodial | Partner bank (Coastal Community Bank); Mastercard debit; FDIC pass-through | — |
| Grey | traditional | Lagos, NG | Custodial | MSB registrations (FinCEN US, FINTRAC Canada); accounts via licensed banking partners | — |
| GXBank | traditional | Kuala Lumpur, MY | Custodial | Digital bank license (BNM); Grab-led | — |
| GXS Bank | traditional | Singapore, SG | Custodial | Digital full bank (MAS) | — |
| Haventree Bank | traditional | Toronto, CA | Custodial | Schedule I Canadian bank (CDIC member) | — |
| Hello bank! | traditional | Paris, FR | Custodial | Operates under BNP Paribas' French banking license (direct-bank brand) | — |
| Hey Banco | traditional | Monterrey, MX | Custodial | Own Mexican banking license (CNBV banca múltiple); independent of Banregio since Jan 2026 | — |
| Hnry | traditional | Wellington, NZ | Custodial | Partner bank (ASB in NZ; Monoova/Cuscal in AU); registered tax agent, client accounts in own name | — |
| Hype | traditional | Milan, IT | Custodial | E-money institution (IMEL, Banca d'Italia); being merged into Banca Sella (2026) | — |
| ila Bank | traditional | Manama, BH | Custodial | Bank (ABC Group) | — |
| imagin | traditional | Barcelona, ES | Custodial | Operates under CaixaBank's Spanish banking license (ECB/Bank of Spain supervised) | — |
| indó | traditional | Reykjavík, IS | Custodial | Icelandic banking license | — |
| Indy | traditional | Lyon, FR | Custodial | Accounts via Swan, ACPR-licensed e-money institution (France); French IBAN | — |
| isybank | traditional | Milan, IT | Custodial | Own Italian banking license (Intesa Sanpaolo group; ECB/Banca d'Italia supervised) | — |
| Jenius | traditional | Jakarta, ID | Custodial | Bank (BTPN/SMBC) | — |
| Jio Payments Bank | traditional | Mumbai, IN | Custodial | Payments bank license (RBI) | — |
| Judo Bank | traditional | Melbourne, AU | Custodial | ADI license | — |
| Jupiter | traditional | Mumbai, IN | Custodial | Partner bank (Federal Bank); RBI PPI license via parent Amica Financial Technologies | — |
| K bank | traditional | Seoul, KR | Custodial | Internet-only bank license (KT-led) | — |
| Karat | traditional | Los Angeles, US | Custodial | Partner bank (Grasshopper Bank, N.A.); Karat Visa credit card issued by Cross River Bank | — |
| Kaspi | traditional | Almaty, KZ | Custodial | Kazakh banking license | — |
| KAST | hybrid | Hong Kong, HK | Custodial | Runs on licensed partners' rails: custody via BitGo/Fireblocks, Visa cards via licensed issuers; not a bank | — |
| Kestrl | traditional | London, UK | Custodial | Accounts and cards issued by AF Payments Ltd, FCA-authorised e-money institution (FRN 900440) | — |
| Khazna | traditional | Cairo, EG | Custodial | Pursuing Central Bank of Egypt digital-bank license (target mid-2026); lends via FRA-regulated entities | — |
| Kit | traditional | Sydney, AU | Custodial | On CBA rails | — |
| Klar | traditional | Mexico City, MX | Custodial | SOFIPO license (CNBV, Mexico); acquiring Bineo for its bank license, approvals pending | — |
| Klarna | traditional | Stockholm, SE | Custodial | Swedish banking license | — |
| KOHO | traditional | Toronto, CA | Custodial | Pursuing Schedule 1 bank license | — |
| Kolo | hybrid | — | Custodial | AIFC FinTech Lab license (Kazakhstan) + Polish VASP; cards issued by Banco Popular de Puerto Rico | — |
| Kontigo | web3-native | — | Custodial | Self-custodial MPC wallet (USDC); no license of its own; fiat rails via partners | — |
| Kontist | traditional | Berlin, DE | Custodial | Partner bank (Solaris SE, BaFin-licensed); German IBAN accounts | — |
| Krak | hybrid | San Francisco, US | Custodial | US state licenses; MiCA (EU) | — |
| Kroo | traditional | London, UK | Custodial | UK banking license | — |
| KuCard | hybrid | — | Custodial | Card issued by Wallester AS (Estonian payment institution); KuCoin EU holds Austrian MiCA CASP license | — |
| Kuda | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| Lava | hybrid | New York, US | Custodial | Custodial (cold storage, distributed keys) since Sept 2025 | — |
| Lemon | hybrid | Buenos Aires, AR | Custodial | Registered VASP/PSAV (CNV Argentina, No. 162); payment account via Digifin S.A. | — |
| Lili | traditional | New York, US | Custodial | Partner bank (Sunrise Banks, N.A.); wires via Column Bank; formerly Choice Financial | — |
| LINE Bank TW | traditional | Taipei, TW | Custodial | Virtual bank license (TW FSC) | — |
| LINE BK | traditional | Bangkok, TH | Custodial | JV on KBank license | — |
| Littio | hybrid | Bogotá, CO | Custodial | On/off-ramp + issuer partners; USD via onchain treasuries | — |
| Liv. | traditional | Dubai, AE | Custodial | Operates under Emirates NBD's banking license (CBUAE) as its digital bank | — |
| Lulo Bank | traditional | Bogotá, CO | Custodial | Bank license (CO) | — |
| Lunar | traditional | Aarhus, DK | Custodial | Danish banking license | — |
| Mahila Money | traditional | Delhi, IN | Custodial | No own license; lends on RBI-licensed NBFC partners' rails (Capital Trade Links, RupeeCircle) | — |
| Majority | traditional | Houston, US | Custodial | Partner bank (Axiom Bank, N.A.); Visa debit; credit card issued by WebBank | — |
| Marcus | traditional | New York, US | Custodial | Goldman Sachs Bank USA national bank charter (OCC); Member FDIC | — |
| MariBank | traditional | Singapore, SG | Custodial | Digital full bank (MAS) | — |
| Mashreq Neo | traditional | Dubai, AE | Custodial | Bank (Mashreq) | — |
| Mela | traditional | Delaware, US | Custodial | US account via a BaaS partner bank (sponsor not publicly named); Mela Finance Inc. is a National Bank of Ethiopia licensed money transfer institution | — |
| Meow | hybrid | New York, US | Custodial | Partner banks (Grasshopper Bank, Cross River Bank); fintech, not a bank; FDIC via partners | — |
| Mercury | traditional | San Francisco, US | Custodial | Partner banks (Choice, Column); previously Evolve Bank & Trust, left 2024 | — |
| Meru | hybrid | Bogotá, CO | Custodial | MSB registration (FinCEN, R3mit Solutions Inc.); USDC accounts via licensed US/EU partners | — |
| Mine | web3-native | Zug, CH | Self-custodial | Self-custodial software (EMM Ventures AG, Zug); card via Unblock Atomo SARL, EEA e-money institution; IBAN via regulated Swiss intermediary | — |
| Minna Bank | traditional | Fukuoka, JP | Custodial | Bank license (JP) | — |
| MNT-Halan | traditional | Cairo, EG | Custodial | Microfinance and consumer finance licenses (FRA, Egypt); e-payments arm licensed by CBE | — |
| MoCaFi | traditional | New York, US | Custodial | Partner bank (Sunrise Banks, N.A., Member FDIC) for accounts and Mastercard debit | — |
| Mogo | hybrid | Vancouver, CA | Custodial | Cards issued by Peoples Trust Company; MogoTrade is a CIRO-regulated broker (Canada) | — |
| MoMo | traditional | Ho Chi Minh City, VN | Custodial | Intermediary payment services / e-wallet license from State Bank of Vietnam; mobile money super-app | — |
| Moneco | traditional | Paris, FR | Custodial | Accounts and cards via regulated EMI partners (Europe/US); Moneco Canada registered with FINTRAC | — |
| Monese | traditional | London, UK | Custodial | FCA-authorised e-money institution (FRN 900960); UK accounts as agent of PrePay Technologies; owned by Pockit | — |
| MoneyLion | traditional | New York, US | Custodial | Partner banks | — |
| Moniepoint | traditional | Lagos, NG | Custodial | MFB + switching licenses (NG) | — |
| Monobank | traditional | Kyiv, UA | Custodial | Operates on Universal Bank license | — |
| Morse | web3-native | London, UK | Self-custodial | MiCA-licensed (Avian Labs Netherlands B.V.) | — |
| Movii | traditional | Bogotá, CO | Custodial | SEDPE e-money license (Superintendencia Financiera, Colombia) | — |
| Mox Bank | traditional | Hong Kong, HK | Custodial | HK virtual bank (StanChart JV) | — |
| Munify | traditional | Cairo, EG | Custodial | US accounts via partner banks; in-principle DFSA license approval (UAE, Nov 2025) | — |
| MYbank | traditional | Hangzhou, CN | Custodial | Private bank license (CN) | — |
| MyInvestor | traditional | Madrid, ES | Custodial | Own Spanish banking license (MyInvestor Banco S.A., Banco de España no. 1544; Andbank group); CNMV supervised | — |
| N26 | traditional | Berlin, DE | Custodial | German banking license | — |
| Nagad | traditional | Dhaka, BD | Custodial | Mobile money license (Bangladesh Bank MFS, with Bangladesh Post Office); 2024 digital-bank license under review | — |
| Naranja X | traditional | Córdoba, AR | Custodial | Bank (Grupo Galicia) | — |
| NayaPay | traditional | Karachi, PK | Custodial | E-money institution (State Bank of Pakistan EMI license, 2021) | — |
| Neo Financial | traditional | Calgary, CA | Custodial | Partner banks (Peoples Bank of Canada, Concentra Bank); CDIC-insured deposits | — |
| neon | traditional | Zurich, CH | Custodial | Partner: Hypothekarbank Lenzburg | — |
| Neon | traditional | São Paulo, BR | Custodial | Payment institution / e-money issuer authorised by Banco Central do Brasil (2021); Neon CTVM brokerage | — |
| Nexo | hybrid | Zug, CH | Custodial | EU VASP registrations; MiCA CASP application pending; EEA served via MiCA-licensed Tangany + DLT Finance | — |
| NEXT Bank | traditional | Taipei, TW | Custodial | Virtual bank license (TW FSC) | — |
| NG.cash | traditional | Rio de Janeiro, BR | Custodial | Payment institution (Banco Central do Brasil, e-money issuer license, May 2025) | — |
| Nickel | traditional | Paris, FR | Custodial | Payment institution (Financière des Paiements Électroniques, ACPR no. 16598); BNP Paribas subsidiary | — |
| Niyo | traditional | Bengaluru, IN | Custodial | Partner banks (SBM Bank India, DCB Bank) — RBI-regulated issuers; no own license | — |
| Nomad | traditional | São Paulo, BR | Custodial | Partner bank (Community Federal Savings Bank, US); FX via Ouribank (Brazil) | — |
| Northmill | traditional | Stockholm, SE | Custodial | Swedish banking license (Finansinspektionen, since 2019) | — |
| NorthOne | traditional | New York, US | Custodial | Partner bank (The Bancorp Bank, N.A.); Mastercard business debit | — |
| Novo | traditional | Miami, US | Custodial | Partner bank (Middlesex Federal Savings, F.A.); Mastercard debit; credit card via Continental Bank | — |
| NOW Money | traditional | Dubai, AE | Custodial | E-money institution / Stored Value Facility license (Central Bank of UAE); funds safeguarded at UAE banks incl. CBI | — |
| Nyla | traditional | Lagos, NG | Custodial | Partner banks — tech company, not a bank; launching in Ghana via a licensed commercial bank (Islamic window) | — |
| OakNorth | traditional | London, UK | Custodial | Full UK banking license (PRA/FCA, 2015) | — |
| OKX Card | hybrid | — | Custodial | VARA, MiCA (Malta) | — |
| One | traditional | Sacramento, US | Custodial | Partner bank (Coastal Community) | — |
| One Zero | traditional | Tel Aviv, IL | Custodial | Israeli banking license | — |
| Oobit | web3-native | Singapore, SG | Self-custodial | Self-custodial software | — |
| Open | traditional | Bengaluru, IN | Custodial | Partner banks (ICICI, Axis, Yes Bank +); RBI-licensed payment aggregator | — |
| Openbank | traditional | Madrid, ES | Custodial | Full banking license within Santander Group (ECB/Bank of Spain); US via Santander Bank N.A. | — |
| Oraan | traditional | Karachi, PK | Custodial | SECP-registered; NBFC (non-bank finance company) license from SECP Pakistan for lending; digital ROSCAs | — |
| OVO | traditional | Jakarta, ID | Custodial | Bank Indonesia e-money license (PT Visionet Internasional, 2017); QRIS + funds-transfer licenses | — |
| Panacea Financial | traditional | Little Rock, US | Custodial | Division of Primis Bank (NASDAQ: FRST) — operates under Primis's US bank charter; FDIC-insured | — |
| Papara | traditional | Istanbul, TR | Custodial | E-money institution (CBRT, Turkey); license revoked Oct 2025, reinstated under state trusteeship | — |
| Parpera | traditional | Sydney, AU | Custodial | AFSL authorised representative (MSC Advisory AFSL 480649); accounts issued by Wise Australia (AFSL 513764) | — |
| PayPay Bank | traditional | Tokyo, JP | Custodial | Bank (JP); SoftBank ecosystem | — |
| Paysera | traditional | Vilnius, LT | Custodial | E-money institution license (Bank of Lithuania, 2012); EEA passported | — |
| PaySika | traditional | Douala, CM | Custodial | Cards issued by Ecobank Cameroon under Visa license; PaySika Holding registered in France | — |
| Paytm | traditional | Noida, IN | Custodial | UPI TPAP riding on partner banks (Axis, Yes Bank, SBI, HDFC); wallet wound down with bank unit | — |
| Pixpay | traditional | Paris, FR | Custodial | E-money distributor — agent of Treezor (ACPR-licensed EMI, Société Générale group); acquired by GoHenry/Acorns | — |
| Plata | traditional | Mexico City, MX | Custodial | Full Mexican bank license (Banco Plata, Mar 2026); Colombia Compañía de Financiamiento authorized | — |
| Plutus | hybrid | London, UK | Custodial | E-money card via Modulr (FCA EMI; Lithuanian EMI for EEA); PLU rewards self-custodial | — |
| Pockit | traditional | London, UK | Custodial | E-money via FCA-authorised EMIs (Modulr, PSI-Pay); owns Monese's EMI license | — |
| Prex | traditional | Montevideo, UY | Custodial | E-money (UY/AR/PE) | — |
| Pride Bank | traditional | São Paulo, BR | Custodial | Not a bank; payment arrangement on Digital Banks' rails (BaaS, Brazil) | — |
| Purple | traditional | New York, US | Custodial | Partner bank (OMB Bank, Member FDIC); Mastercard debit issued by OMB Bank | — |
| Pyypl | traditional | Dubai, AE | Custodial | FSRA (ADGM) money services license No. 170031; non-bank payment institution; also CBB Bahrain, AFSA Kazakhstan | — |
| Qik | traditional | Santo Domingo, DO | Custodial | Full banking license (banco múltiple, Dominican Republic, Oct 2022; Grupo Popular) | — |
| Qonto | traditional | Paris, FR | Custodial | Payment institution (ACPR); pursuing credit license | — |
| Rakuten Bank | traditional | Tokyo, JP | Custodial | Bank; Public (JP) | — |
| Ramp | traditional | New York, US | Custodial | Partner banks | — |
| RappiPay | traditional | Bogotá, CO | Custodial | Finance company charter (compania de financiamiento, SFC Colombia, 2022); Rappi-Davivienda JV; Fogafin-insured | — |
| RazorpayX | traditional | Bengaluru, IN | Custodial | Partner banks (RBL, ICICI, Yes, Axis, IDFC First); Razorpay holds RBI payment aggregator license | — |
| RedotPay | hybrid | Hong Kong, HK | Custodial | Hong Kong MSO, money lender + TCSP licenses; VASP (RedotX UAB, Lithuania FCIS); MSB registrations (US/Canada) | — |
| Relay | traditional | Toronto/US | Custodial | Partner bank (Thread Bank, Member FDIC); previously Evolve Bank & Trust | — |
| Rho | traditional | New York, US | Custodial | Partner bank (Webster Bank, N.A.); savings swept across 400+ FDIC banks via ADM | — |
| Ripio | hybrid | Buenos Aires, AR | Custodial | VASP: PSAV registration with CNV Argentina (Nos. 36/37, 2024); regional entities in BR/MX | — |
| Robinhood | hybrid | Menlo Park, US | Custodial | Broker-dealer + partner banks; state crypto licenses | — |
| Rocker | traditional | Stockholm, SE | Custodial | Operates under Bankaktiebolaget Nordiska's Swedish banking license (Finansinspektionen); own PI license returned Sep 2025 | — |
| Ryt Bank | traditional | Kuala Lumpur, MY | Custodial | Digital bank license (BNM) | — |
| SadaPay | traditional | Karachi, PK | Custodial | E-money institution (EMI) license from State Bank of Pakistan; owned by Papara | — |
| Salt Bank | traditional | Bucharest, RO | Custodial | Bank (Banca Transilvania) | — |
| Sarwa | traditional | Dubai, AE | Custodial | FSRA-regulated (ADGM, UAE) investment platform; robo-advisory and broker services | — |
| SeaBank | traditional | Jakarta, ID | Custodial | Bank (OJK); Sea Group | — |
| Shine | traditional | Paris, FR | Custodial | Payment institution (ACPR n°71758, France); funds safeguarded at Société Générale | — |
| Slash | hybrid | San Francisco, US | Custodial | Partner bank (Column N.A., Member FDIC); previously Piermont Bank | — |
| slice | traditional | Bengaluru, IN | Custodial | Small finance bank (via NESFB merger) | — |
| Snappi | traditional | Athens, GR | Custodial | Full ECB banking license (via Bank of Greece, Jun 2024); Piraeus-backed digital bank | — |
| SoFi | traditional | San Francisco, US | Custodial | National bank charter (2022) | — |
| Sony Bank | traditional | Tokyo, JP | Custodial | Japanese banking license (Sony Financial Group) | — |
| Sparkle | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| SpectroCoin | hybrid | Vilnius, LT | Custodial | Crypto VASP (Lithuania); e-money IBANs and Visa cards via UAB Pervesk (Bank of Lithuania EMI No. 17) | — |
| Stables | web3-native | Sydney, AU | Custodial | AFSL partners; Mastercard APAC program | — |
| Starling Bank | traditional | London, UK | Custodial | UK banking license | — |
| STC Bank | traditional | Riyadh, SA | Custodial | Digital bank license (SAMA) | — |
| Step | traditional | Palo Alto, US | Custodial | Partner bank (Evolve) | — |
| Stori | traditional | Mexico City, MX | Custodial | Sofipo (MX) | — |
| Strike | hybrid | Chicago, US | Custodial | Money transmitter licenses + NY BitLicense (NYDFS, 2026); Zap Solutions, Inc. | — |
| Suits Me | traditional | Cheshire, UK | Custodial | E-money accounts issued by PrePay Technologies (FCA EMI, FRN 900010); Suits Me acts as agent/programme manager | — |
| Sumeria (Lydia) | traditional | Paris, FR | Custodial | E-money institution (Lydia Solutions, ACPR France, CIB 17598); credit-institution license applied for | — |
| Superbank | traditional | Jakarta, ID | Custodial | Bank (OJK); Grab/Emtek/Singtel | — |
| T-Bank | traditional | Moscow, RU | Custodial | Russian banking license | — |
| Takenos | hybrid | Buenos Aires, AR | Custodial | Fintech; stablecoin wallet on partner rails | — |
| Tandem Bank | traditional | London, UK | Custodial | UK banking license | — |
| Tap Global | hybrid | London, UK | Custodial | Gibraltar DLT/VASP license (GFSC, No. 25532); cards via Transact Payments EMI | — |
| TBC UZ | traditional | Tashkent, UZ | Custodial | Bank (TBC Group) | — |
| Telda | traditional | Cairo, EG | Custodial | CBE-regulated (Meeza) | — |
| Tenpo | traditional | Santiago, CL | Custodial | Preparing Chilean bank license | — |
| Tide | traditional | London, UK | Custodial | E-money; deposits via ClearBank | — |
| Till Financial | traditional | Boston, US | Custodial | Partner bank (Coastal Community Bank); FDIC pass-through; Visa debit cards | — |
| Timo | traditional | Ho Chi Minh, VN | Custodial | Partner: Ban Viet Bank | — |
| Tinaba | traditional | Milan, IT | Custodial | Partner bank (Banca Profilo, Bank of Italy register no. 5271); Tinaba is the tech layer | — |
| TNEX | traditional | Hanoi, VN | Custodial | Operates under Maritime Bank's (Vietnam) banking license as its digital bank | — |
| Tomorrow | traditional | Hamburg, DE | Custodial | Partner bank (Solaris SE, full German banking license, BaFin-supervised) | — |
| Tonik | traditional | Manila, PH | Custodial | PH digital bank license | — |
| Toss Bank | traditional | Seoul, KR | Custodial | Internet-only bank license (KR) | — |
| Touch 'n Go eWallet | traditional | Kuala Lumpur, MY | Custodial | E-money issuer license (Bank Negara Malaysia) | — |
| Trade Republic | traditional | Berlin, DE | Custodial | German full banking license (2023) | — |
| True Link | traditional | San Francisco, US | Custodial | Partner bank (Sunrise Banks, N.A.); True Link Visa prepaid cards | — |
| TrueMoney | traditional | Bangkok, TH | Custodial | E-money license (Bank of Thailand) via Ascend Money; local e-money/payments licenses across 7 SEA markets | — |
| Trust Bank | traditional | Singapore, SG | Custodial | Bank (StanChart x FairPrice) | — |
| Trustee Plus | hybrid | Vilnius, LT | Custodial | Lithuanian VASP (UAB Trustee Global); pursuing MiCA CASP license after Jan 2026 wind-down | — |
| Tweeq | traditional | Riyadh, SA | Custodial | SAMA e-money license | — |
| Ualá | traditional | Buenos Aires, AR | Custodial | Bank licenses (AR via Wilobank, MX via ABC Capital) | — |
| ueno bank | traditional | Asunción, PY | Custodial | Bank license (PY) | — |
| UglyCash | web3-native | San Juan, PR | Custodial | US MSB + issuer partners | — |
| Umba | traditional | Lagos/Nairobi | Custodial | Microfinance bank license in Kenya (majority stake in Daraja MFB, CBK-approved 2022); Nigeria via partner bank | — |
| UnionDigital | traditional | Manila, PH | Custodial | PH digital bank license | — |
| UNO Digital Bank | traditional | Manila, PH | Custodial | PH digital bank license | — |
| Up | traditional | Melbourne, AU | Custodial | On Bendigo & Adelaide Bank license | — |
| Uphold | hybrid | New York, US | Custodial | FinCEN MSB + state money-transmitter licenses (US); FCA-registered cryptoasset firm (UK) | — |
| UR | hybrid | — | Custodial | Swiss fintech banking license (Art. 1b Banking Act, FINMA; SR Saphirstein AG); tokenized deposits | — |
| Uzum | traditional | Tashkent, UZ | Custodial | Bank license (UZ) | — |
| Varo | traditional | San Francisco, US | Custodial | National bank charter (2020) | — |
| Venmo | hybrid | New York, US | Custodial | PayPal's US state licenses (money transmitter, NMLS 910457); crypto via NYDFS trust company PayPal Digital | — |
| Vision Bank | traditional | Riyadh, SA | Custodial | Full Saudi digital bank license (SAMA); full operations approved Sep 2025 | — |
| Vivid Money | traditional | Berlin, DE | Custodial | E-money institution (Vivid Money S.A., CSSF Luxembourg + DNB branch); AFM investment firm; MiCAR CASP (2025) | — |
| Wahed | traditional | New York, US | Custodial | SEC-registered investment adviser; broker/custody via Apex Clearing (FINRA/SIPC) | — |
| Wave | traditional | Dakar, SN | Custodial | First non-telecom e-money issuer (BCEAO) | — |
| Wealthsimple | traditional | Toronto, CA | Custodial | Broker-led: CIRO-registered investment dealer (WSII); cash held at CDIC member banks | — |
| WeLab Bank | traditional | Hong Kong, HK | Custodial | HK virtual bank | — |
| Weyay | traditional | Kuwait City, KW | Custodial | Bank (NBK) | — |
| Wio Bank | traditional | Abu Dhabi, AE | Custodial | UAE banking license | — |
| Wirex | hybrid | London, UK | Custodial | E-money institution (FCA, FRN 902025); crypto via Wirex Digital Services VASP (OAM Italy) | — |
| Xapo Bank | hybrid | Gibraltar | Custodial | Gibraltar banking license | — |
| XPlace | hybrid | Dubai, AE | Custodial | Self-custodial (non-custodial Solana smart contracts); cards issued via Rain (Signify Holdings) under Visa license | — |
| YAP | traditional | Dubai, AE | Custodial | Partner bank (Ruya Community Islamic Bank, CBUAE-licensed; formerly RAKBANK) | — |
| Yellow Card | hybrid | Lagos, NG | Custodial | Licensed/registered in 20+ African markets | — |
| Yolat | traditional | Lagos, NG | Custodial | FINTRAC MSB + Bank of Canada RPAA PSP (CA); IMTO (CBN, NG) | — |
| YouTrip | traditional | Singapore, SG | Custodial | Major Payment Institution (MPI) license from MAS, Singapore — e-money issuance; funds safeguarded at DBS/StanChart/UOB | — |
| Yuh | hybrid | Gland, CH | Custodial | On Swissquote's banking license | — |
| ZA Bank | traditional | Hong Kong, HK | Custodial | HK virtual bank; SFC-aligned crypto services | — |
| Zak | traditional | Basel, CH | Custodial | Operates under Bank Cler's Swiss banking license (FINMA) | — |
| ZaloPay | traditional | Ho Chi Minh City, VN | Custodial | Licensed payment institution (SBV intermediary payment services license 04/GP-NHNN); Zion/VNG e-wallet | — |
| Zand | traditional | Dubai, AE | Custodial | UAE banking license | — |
| Zempler Bank | traditional | London, UK | Custodial | Full UK banking license (PRA/FCA, Feb 2021, ex-Cashplus); FSCS-protected | — |
| ZEN.com | traditional | Vilnius, LT | Custodial | E-money institution (Bank of Lithuania, LB000457, 2018) | — |
| Zinli | traditional | Panama City, PA | Custodial | Registered e-money issuer (MFTECH S.A.) with Superintendencia de Bancos de Panamá — AML/CFT supervision only | — |
| Zolve | traditional | New York/Bengaluru | Custodial | Partner bank (Community Federal Savings Bank); deposits, debit and credit cards | — |
| Zopa Bank | traditional | London, UK | Custodial | UK banking license (2020) | — |
Common questions
Neobanks that require identity verification: how many are there?
334 of the 382 neobanks tracked here are full-KYC neobanks. Every entry is verified active and listed on this page with its custody model, license detail and the regions it serves.
Which are the biggest full-KYC neobanks?
By self-reported users, WeBank, PhonePe, Nubank, GCash and Mercado Pago. Only 20 of these 334 disclose a user figure, so treat any ranking by size as partial rather than complete.
What does this category actually mean?
Opening one of these means handing over a government ID — usually a passport or driving licence scan, very often a selfie taken against it — to a regulated company that is then obliged to keep it. Anti-money-laundering rules across the UK, EU and US require firms to retain identification records for years after an account closes, so the copy does not disappear when you do. That obligation is also why these firms answer requests from law enforcement and government agencies: a documented disclosure process is part of holding the licence. Worth knowing before you open your fifth account.
Related
Neobanks that work without identity verification (14) · Neobanks where only the card requires ID (34)
go deeperFilter these live in the interactive directory, browse every cut of the dataset, or take the raw fields from data.json.
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.