Are Neo Banks safe and regulated?

Yes, neo banks are generally safe and regulated. While they don’t always have full banking licenses themselves, they partner with licensed, insured banks to hold and protect customers’ deposits. These partner banks are typically regulated by financial authorities, ensuring security for users. Neo banks also follow strict data protection and security standards. As part of neo banking solutions, they use advanced technology to offer a secure, reliable, and convenient banking experience while adhering to industry regulations.

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