Neo Banks In The U.S. Have Grown, But They Aren’t Profitable

Startup banks in the U.S. have made some impressive changes to the banking world — an end to NSF fees, access to payroll direct deposits two days early, sometimes an end to all fees and even small interest-free, short-term loans to cover overdrafts. Chime, the largest neo

bank in the U.S. offers up to $200 in overdraft without fees. Under competitive pressure from the neos, several big incumbents have, at long last, become somewhat more consumer friendly.