Neo-bank accounts are just as secure for storing money as traditional bank accounts. In India, all neo-banks operate in tandem with conventional banks. This indicates that client funds are kept in a reputable bank. If you're unfamiliar with neo-banking and digital accounts and are thinking of opening a digital savings account with one, you might be worried about the security of your money, your personal information, and other sensitive data. This is an entirely reasonable worry if all of your banking experience has been with conventional institutions. Neo bank license transforms the fin-tech scenario.
