What is SME Neobank?

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What is SME Neobank?

HannahMarla

As neobank market has grown in size and has gone through major changes, a new type of Neobanks that are offering banking products specifically catered towards SMEs and businesses are referred to as SME Neobanks.

These SME Neobanks or Neo banks for Businesses as compare to traditional banks, are more digitally focused. They offer built-in merchant services and other important tax and financial tools that small businesses use.

In todays ever shifting business markets SMEs and start-up need access to financial products and services to make better and informed decisions. These business SME neobanks are at the forefront of the movement to meet this business customer demand.

Here is an updated list of SME Neo banks based on countries they operate.

S Scott

Best Neo banks for Business

Neobanks are the digital financial institutions that function like banks with many similarities but with some important differences. For business customers, a neobank will work just like a regular bank in most regards, but typically offer online-only banking services.

Neo banks main focus is to provide convenient and streamlined online banking services like business checking accounts through the mobile apps and web apps. Neobanks can replace a business's bank account in some situations, or a neo bank can complement a business that already has a traditional bank account. Here's a list of the best neo banks for business. Smart Business Banking for Startups, SME and Freelancers.

Stay in control

Chris Adams

I use Penta Fintech.
Business banking with company cards. Traditional banks are slow, inefficient and not digital — Neo banks are different.

Company account within 48 hours instead of waiting for weeks.
Online account opening with German IBAN.
VISA debit cards for all employees.
Deposit insurance of up to €100,000.
Preparatory accounting for easy expense management.
Accounts from €9/month — no hidden fees.