Rakuten Bank vs Memo Bank.
Rakuten Bank (R70/100) and Memo Bank (M56/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Rakuten Bank leads Memo Bank 5-2.
| M Memo Bank №59 · ACPR 56 /100 | R Rakuten Bank №33 · JFSA 70 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 56 /100 | 70 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €449 /mo | €0 Free tier |
| FX markup Debit card abroad | 0.50% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | E-money inst. ACPR | Full bank JFSA |
| Deposit guarantee Per depositor | Safeguarded EU.DGS.FR | Safeguarded No DGS |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | Yes |
| UX | ||
| Trustpilot Customer score | 4.6 ★ 0k reviews | — |
| App store iOS + Android avg | 4.5 ★ iOS 4.5 · And 4.4 | 4.3 ★ iOS 4.4 · And 4.2 |
| Read review → | Read review → | |
Pick Memo Bank if…
The French mid-market SME bank that fills the structural gap between Qonto (freelancer-and-SME-led, ACPR credit institution) and chartered legacy banks (BNP Paribas Business, Société Générale Business). Full ACPR credit-institution licence with DGS protection. Mid-market SME tier (€1M-100M revenue) is the target audience; API-first treasury + Pennylane integration is the SMB-tech moat.
Pick Rakuten Bank if…
Largest Japanese internet-only bank by customer count (~14M+) and the only TSE Prime-listed pure-play net bank (TYO: 5838, IPO 21 April 2023 — the largest Japanese IPO in five years at the time). Originally chartered as eBank in 2001; acquired by Rakuten Group (TYO: 4755) in 2009. Structural moat is the Rakuten Points + Rakuten Card + Rakuten Securities + Rakuten Mobile + Rakuten Ichiba ecosystem — points cross-pollinate across the entire surface area. Full FSA Banking Act licence; statutory DICJ member at the JPY 10,000,000 ceiling.
- Best for fees Rakuten Bank won 2 of 4
- Best for protection Rakuten Bank won 1 of 2
- Best for reach Rakuten Bank won 1 of 3
- Best for ux Memo Bank won 2 of 2
Rakuten Bank vs Memo Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Memo Bank better than Rakuten Bank?
Under our v3 methodology, Rakuten Bank leads Memo Bank 5–2 across 12 dimensions. Composite scores: Memo Bank 56/100 vs Rakuten Bank 70/100. Rakuten Bank is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Memo Bank or Rakuten Bank cheaper?
Monthly fee — Memo Bank: €449; Rakuten Bank: €0. Card FX markup — Memo Bank: 0.50%; Rakuten Bank: Interbank. Rakuten Bank wins more fee rows (2 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Memo Bank or Rakuten Bank?
Memo Bank holds a E-money inst. licence under ACPR; deposit guarantee per depositor: Safeguarded. Rakuten Bank holds a Full bank licence under JFSA; deposit guarantee per depositor: Safeguarded. Rakuten Bank is the stronger pick on regulatory protection.
Where can I use Memo Bank and Rakuten Bank?
Memo Bank operates in 1 country; Rakuten Bank operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
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