Digital Banks in UK

Digital Banks in UK

digital banks in uk

Developing technology started to have an effect on banking. Digital banks have started to be established in the UK as well as all over the world. It had already started to invest in this area in traditional banks. It directed its customers to websites and applications rather than branches and ATMs. The purpose of this was to get rid of branch and personnel expenses first. However, online banking caused developments different from what was expected.

Digital banks allow you to shop in a very safe way, to save money, to make easy and fast transactions. They have both retail and business banking services. The list of Digital Banks in the UK is as follows.

Anna Bank

Anna Bank was established in the UK in 2017. It has the status of Digital Bank. So they do not have branches and ATMs. Its customers make all their transactions online or via application.

Anna Bank provides services business banking. Moreover, you also get a debit card linked to your account. With ANNA Money you get a business account and debit card. We also do your invoicing, track your expenses and sort your company taxes. By typing in your phone number and approving the privacy policy, you take the first step to open an account in Anna.

Revolut

Revolut was established in the UK in 2015. It offers very advantageous services to its customers. There are many services such as debit card, currency exchange, stock exchange transactions, crypto money trading. Since it has a contract with Visa, it offers shopping opportunities all over the world.

Revolut is a company that has attracted the attention of investors since its foundation. It has many shareholders. The value of the company has approached £ 5 billion. Although it is located in the UK, it also invests in different countries.

Starling

Starling was founded in the United Kingdom in 2014. It offers both individual and business banking services. The rapidly growing Starling is said to be purchased by many banks. They have agreements with RBS Bank.

To become a customer of Starling Bank, visit the official website or mobile application. You can then apply for a new customer account.

Tide Bank

Tide was established in the UK in 2015. It is the first digital bank to operate in business banking in the UK. The customers of the bank can manage their accounts via internet banking and the application. It is preferred by small businesses. Because it gives loans to small businesses.

Monzo

Monzo Bank is a digital bank established in the United Kingdom in 2015. It offers international digital banking services, not only for those living in the UK. For this reason, it has customers in different countries of the world. It offers currency exchange service with a very low price. Moreover, you can shop abroad as it has an agreement with MasterCard.

Coconut Bank

Coconut acts as an accountant for self-employed people. It controls the payments, tax returns and expenses of such businesses. You can link your bank accounts with Coconut. You will follow all your transactions on the website and mobile application.

Mettle Bank

Mettle is a system developed by Natwest. Serves small businesses operating in the UK. It allows you to track your money transfers, tax payments and other accounting transactions. It is a very useful structure. Moreover, you can follow all transactions through the mobile application and website.

Cashplus is a provider of prepaid MasterCards and current account for consumers, small businesses and local government authorities in the UK. It offers both personal and commercial banking services. It also offers low-amount loan opportunities.

Monese

Monese was established in the UK in 2015. It has attracted the attention of investors in a short time. Opening a bank account is easy. It offers the opportunity to transfer your money safely. It provides debit card and money transfer services to its customers.

Fair Everywhere

Fair Everywhere offers business banking. It is one of the digital banks in the UK. It serves small businesses. It allows you to easily access services such as payments, money transfers, tracking of account movements. Moreover, you can separate your accounts according to different currencies. It reminds you of the payments you have to make. Must deal with Mastercard. It has been awarded by many industry representatives.

Open Dijital Bank Account

As we have said many times, digital banks do not have branches. For this reason, you do not need to go to the branch and sign contracts of tens of pages to open an account. You can open an account with your mobile phone, ID or passport.

More than 500,000 students come to the UK each year. To open an account, students go to a bank branch and apply with their passport or residence permit. Account opening processes can sometimes be time consuming for foreigners. For this reason, many students open digital bank accounts. Moreover, your account can be opened within 10 minutes.

How do I open a digital bank account?

It is easy to open a bank account. Visit the website or app of the bank you want to open an account with. Then, confirm your mobile phone and fill in the application form containing your personal information. You will then be asked for a photo or video. Upload this photo or video. You will be notified when your account is active. Some digital banks have agreements with Visa or Mastercard. Request the debit card of these banks. You can use this card instead of cash for your shopping.

Once your digital bank account in the UK is activated, you can transfer funds from your home country account to your new account. This transfer fee can be determined by the other bank. We hope we have provided enough information about all the digital banks in the UK.

 

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