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Mydoh is a Canadian fintech company that offers a digital banking solution designed specifically for children and teenagers, aiming to teach them valuable financial skills while providing parents with tools to manage their children’s finances.

Launched with the goal of promoting financial literacy, Mydoh provides users with a prepaid Visa card and a companion app that allows parents to set spending limits, monitor transactions, and transfer money to their children in real time. This approach not only fosters responsible spending habits but also empowers kids to learn how to manage their money effectively.

This article will uncover Mydoh’ availability and expansion plans in Europe and provide alternative solutions.

Is Mydoh available in Europe?

Unfortunately, Mydoh is not yet available in Europe and it’s currently available exclusively for Canada.

Is Mydoh available in Europe?

As the world of digital banking evolves, European residents looking for sophisticated and user-friendly banking platforms have a variety of options. Mydoh has gained popularity in Canada for its innovative features, transparent operations, and a strong commitment to social and environmental responsibility. However, Mydoh is not available in Europe.

This article explores the best Mydoh alternatives accessible to Europeans who wish to benefit from innovative digital banking services. We will look at the best neobanks and fintech platforms that cater to the unique needs and preferences of European users, offering features such as low fees, seamless transactions, and comprehensive mobile banking solutions.

Whether you are a seasoned user or just getting started, keep reading to learn about the best options for managing your finances efficiently.

Mydoh Alternatives in Europe

In this section, we will be discussing 3 alternatives that share comparable features with Mydoh in Europe:

  • Revolut
  • N26
  • Monese

Revolut

Revolut home page

Revolut was founded by Vlad Yatsenko and Nikolay Storonsky, former financial engineers, with the aim of creating an intuitive platform for international money transfers. Since its inception, the company has experienced significant investment, with a valuation of $1.7 billion after raising $250 million in 2018.

In addition, Revolut’s name reflects its ambition to revolutionize banking services, and its success is evident from its vast customer base and a presence in 152 cities with 152 payment options and money transfer solutions in 30 currencies.

Key features

  • Account options: Revolut offers 5 different plans for current accounts (also business and junior accounts), providing you with a tailored plan for your needs.
  • Savings interest rates: Up to 4.75% annual interest on your savings (depending on the plan).
  • Minimum Deposits: There is not a minimum amount required to start an account.
  • Asset Classes: You can invest in Stocks, Commodities and Crypto
  • Funding Options: You can fund your account with Revolut from Europe through bank transfers, credit / debit card payments or via OnlineBanking apps.
  • Additional Costs: Besides the monthly plan, there are also transfer fees, ATM withdrawal fees and currency exchange rates (everything depending on your plan).
  • Platform: Designed for user convenience and efficiency, providing a comprehensive suite of financial tools in a single, intuitive interface. The app supports various functions including banking, budgeting, investing, and currency exchange.
  • Security: Revolut Bank UAB, is authorised by the European Central Bank and the Bank of Lithuania. All European customers’ funds are protected by the Lithuanian State Company “Deposit and Investment Insurance”. As a result, Revolut customer deposits in Europe are insured up to a maximum of EUR 100,000.

However, if you still have doubts about Revolut being the right fit for you, just click here and read our full in-depth 2024 review!

N26

N26 home page

N26 was founded by Valentin Stalf and Maximilian Tayenthal, driven by the vision of creating a seamless and modern banking experience. Since its inception, the company has attracted significant investment, reaching a valuation of $3.5 billion after raising $570 million in its 2019 funding round.

In addition, N26’s name reflects its ambition to redefine the banking landscape, and its success is evident from its large customer base and presence in 25 countries. With its intuitive mobile app and focus on transparency and convenience, N26 continues to expand its offerings, making it a leading choice for digital banking solutions.

Key features

  • Account options: N26 offers 4 different plans for current accounts (also business accounts), providing you with a tailored plan for your needs.
  • Savings interest rates: Up to 4% annual interest on your savings (depending on the plan).
  • Minimum Deposits: There is not a minimum amount required to start an account.
  • Asset Classes: You can invest in Crypto
  • Funding Options: You can fund your account with N26 from Europe through bank transfers, credit / debit card payments or via OnlineBanking apps.
  • Additional Costs: Besides the monthly plan, there are also ATM withdrawal fees and other fees with everything depending on your plan.
  • Platform: Designed for user convenience and efficiency, providing a comprehensive suite of financial tools in a single, intuitive interface. The app supports various functions including banking, budgeting, investing, and currency exchange.
  • Security: As a fully-authorized financial institution, N26 operates as a fully lincensed German Bank. That means having the same security regulations as any other bank. It also means your funds are protected up to €100,000 by the German Deposit Protection Scheme. In fact, N26 policies are designed to ensure the protection of personal information.

However, if you still have doubts about N26 being the right fit for you, just click here and read our full in-depth 2024 review!

Monese

Monese home page

Monese was founded by Norris Koppel, driven by the vision of creating an accessible and modern banking experience. Since its inception, the company has attracted significant investment, reaching a valuation of $1 billion after raising $60 million in its 2020 funding round.

In addition, Monese’s name reflects its goal to provide a fresh approach to banking, and its success is evident from its large customer base and presence in multiple countries. With its intuitive mobile app and focus on simplicity and convenience, Monese continues to expand its offerings, making it a top choice for digital banking solutions.

Key features

  • Account options: Monese offers 3 different plans for current accounts (also business accounts), providing you with a tailored plan for your needs.
  • Extras: Credit builder, personal loans options, Paypal and Avios account integration.
  • Minimum Deposits: There is not a minimum amount required to start an account.
  • Funding Options: You can fund your account with Monese from Europe through bank transfers, credit / debit card payments or via OnlineBanking apps.
  • Additional Costs: Besides the monthly plan, there are also money transfer fees, foreign currency exchange, ATM withdrawal fees and other fees with everything depending on your plan.
  • Platform: Designed for user convenience and efficiency, providing a comprehensive suite of financial tools in a single, intuitive interface. The app supports various functions including banking, budgeting, investing, and currency exchange.
  • Security:Unlike mainstream banks,your money isn’t covered by the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 of savings if a provider goes bust. However, Monese is regulated by the Financial Conduct Authority as a registered agent of electronic money institution PrePay Solutions, which follows Electronic Money Regulations.

However, if you still have doubts about Monese being the right fit for you, just click here and read our full in-depth 2024 review!

Final Thoughts

Although Mydoh is not accessible in Europe, there are still plenty of other options available to assist people in achieving their financial objectives. There are local and global solutions available, each catering to a different desire and set of financial goals.

Having said so, always remember that choosing the best neobank depends on your personal goals and financial situation, so it’s essential to stay informed about the latest developments and explore the ever-expanding range of financial tools available.

We hope we helped you in your search for the Best Alternatives for Mydoh in Europe.