How to choose a neobank card

A practical guide to picking the right debit or virtual card based on how you actually spend.

1. Match the card to your spending pattern

Different cards excel at different things. If you shop internationally or in foreign currencies, prioritize low FX fees — Revolut (0% up to $1,000/mo), Bunq (0% on premium), and Curve (0% on weekdays up to $500/mo) lead here. If you only spend in your home currency, a free card from Chime (US) or Monzo (UK) works fine without paying for FX features you won't use.

2. Understand virtual card options

Virtual cards are card numbers generated instantly in your app. They work for online shopping and digital wallets without a physical card. Key differences between providers:

• Revolut offers disposable virtual cards on Premium and Metal plans — each one works for a single transaction then self-destructs, protecting against merchant data breaches.
• Bunq allows up to 25 virtual cards on their premium plan, useful for separating subscriptions and budgets.
• Wise provides up to 3 virtual cards with low, transparent FX fees on every transaction.
• Free-tier cards from N26 and Monzo typically include one virtual card at no cost.

3. Check the real cost of "free"

Most neobank cards are advertised as free, but costs show up in usage fees. A card with no monthly fee but a 1.7% FX markup (N26 Standard) costs $17 on every $1,000 spent abroad. A $16.99/month card with 0% FX (Revolut Metal) breaks even at $1,000/month in foreign spending and saves money above that. Calculate your actual monthly spending pattern before choosing.

4. Cashback is usually not worth optimizing for

Neobank cashback rates are modest compared to traditional credit cards. Most offer 0.1-1% on free or paid plans, with caps that limit actual returns. Vivid Money's headline "up to 25%" applies only to specific merchant promotions and is capped at $25/month on the free plan. SoFi's "up to 15%" is limited to select partner merchants. Evaluate cards on fees first, cashback second.

5. Apple Pay and Google Pay support

All major neobank cards now support Apple Pay and Google Pay, making physical cards less necessary for in-store purchases. The one notable exception is Chime, which does not offer virtual cards — though it does support Apple Pay with the physical card. If you primarily pay via phone or watch, any provider on our list works.

6. Regulatory protection for your deposits

Where your money sits matters:

• FDIC-insured (US): Chime (via Stride Bank), SoFi, Varo — deposits protected up to $250,000.
• EU banking license: N26 (Germany), Revolut Bank (Lithuania), Bunq (Netherlands) — deposits protected up to EUR 100,000.
• UK FCA-regulated: Monzo, Revolut — deposits protected up to GBP 85,000.
• E-money (EMI): Wise — funds safeguarded separately from company assets but not covered by deposit insurance schemes.

If deposit protection is a priority, choose a provider with a full banking license in your jurisdiction rather than an EMI.