Neobanks Explained: Why It's Not a Bank | NerdWallet

Neobanks are financial technology — or fintech — companies that typically offer mobile-focused banking accounts with eye-catching features such as low-cost credit or cash-back rewards. Some established neobanks offer loans, credit cards or investing products, too. This week our banking expert, Chanelle Bessette, joins us to chat through the key differences and why a Neobank might be right for you.