With a variety of challenger banks around us, neat banking distinguishes itself by providing entrepreneurs with an opportunity to do business all over the world. The era where the digital market has disappeared borders in doing business, neat platform has made it easier to cope up with the new era in strengthening economies.
Neat is a Hong Kong-based bank but is open for worldwide businesses. It is a modern alternative to a bank and aims to support you for your new ventures. The bank is explicitly formed for entrepreneurs by the entrepreneurs. It claims to be a supportive platform for businesses and aims to strengthen the economy worldwide.
Services of neat
Neat is a secure and trustworthy digital banking platform that offers accounts for personal and business use. Although the personal account works like any other challenger bank account neat has set new levels in business banking among all the other challenger banks. Following are the features and services of the neat banking platform:
Multicurrency account and separate IBAN
Your account is viable for multiple currencies such as HKD, USD, Euros, and GBP. You can receive and transfer payments locally as well as internationally via your neat account, having separate IBANs.
Safety and security
Neat is the secure banking platform holding multiple authority licenses. It has got license by TCSP, money lenders and money service operators. The money at neat is in segregated accounts, hence ensuring money safety with full protection.
Easy signups
Neat offers quick and easy signups. You can get your account via an online channel by being anywhere in the world. Setting up an account at neat is entirely free. It offers accounts of personal and business types and charges a little from the customers consuming business banking features.
The convenience of banking, while being anywhere in the world, has increased its value and demand.
Corporate cards
Like any other banking platform, neat also offers corporate cards to its customers. The cards can be dealt with by your employees to manage the company’s expenses. The cash withdrawals from the ATM are done anywhere in the world with the best exchange rates.
Fully updated app
The neat offers its banking solution through the web and app. The fully updated app is applicable for ios and android users all around the world. The app functions by providing access to multiple features and giving time to time notification of all the activities that are happening on the business account. Even update you regarding your spending schedules and upcoming bills.
Easy invoicing
Neat offers a great functional feature of invoicing and integrated accounting. The lengthy paperwork had been the most hated part for the employees. Easy and accurate invoicing through the app has made employees free of the extra hassle one has to go through.
Worldwide bank transfers
Neat has removed barriers and extra taxes on worldwide bank transfers. It has made money transfers a lot easier and cheaper all over the world than the traditional banking system. Hence, the need for lengthy paperwork and worries of extra fees has been eradicated by fulfilling the demand with just a click of a button.
How much does a neat business account cost?
The coast and pricing at neat banking platform are easy and straightforward. The price details are mentioned in detail on their websites, and there are no extra surprises in terms of fees or taxes.
The virtual activities of account opening, notifications, app usage, and customer support are free. The physical features of providing MasterCard, transactions, and withdrawals charge a fraction of money to the consumers. Regardless of the impressive services, the charges are not as high as the traditional banking.
Visit neat website to have a better understanding of the cost and pricing schemes.
Neat in a nutshell
Advantages
- Easy and cheaper than any other challenger bank.
- ensure safety and security of money by multiple money license and segregated accounts.
- Quick money transfers with the lowest charges and in multiple currencies.
- Spend money globally, online, and offline.
- Great customer support service.
- No lengthy paperwork or physical bank visits.
- Great design with tremendous features.
Disadvantages
- Not a true Hong Kong bank account, hence government guarantee scheme do not cover the funds.
- Features of cheque writing and direct debit are not included.
- Mastercards are prepaid cards; hence you have to load them separately.
- You still need to have a traditional bank account to carry out different functions.
- Neat has a long list of blocked countries. Therefore you must check before planning your account.
- The program still needs a lot of progress in its field.
Conclusion
Neat has opened business opportunities for multiple entrepreneurs who are not Hong Kong residents but wish to open business accounts. It has erased distances by handling pretty much everything online, even across the borders. In short, the multiple advantages and low pricing have made its popularity more functional to the people waiting longer to start their enterprises.
