ANNA Money vs Imagin
Side-by-side comparison — pricing, features, ratings, use cases. Find which Neobanks fits you best.
🔍 Independently researched ·
📊 Data-driven
· ⭐ Ratings from G2 (real user reviews)
73/100
Free tier
UK freelancers, contractors, and small business owners who want a no-nonsense, AI-assisted business account to handle in
★ Best
💰 Pricing
🆓 Free tier available
Free account with monthly fee waived if sufficient usage; otherwise subscription may be required
Fee notes:
- No monthly account fee for standard account
- FX conversion fee: 1% on transactions in non-GBP (or 1.5% if not using card? Please check)
- International payments: no fee for receiving, but FX spread applies
- ATM withdrawals: free in the UK, £1.50 or 2% for international (varies)
- Card replacement: £10 for standard, free for Premium (if applicable)
⚠ Watch for:
- FX markup of 1% on foreign currency transactions can add up
- International ATM withdrawal fees may be charged by ANNA plus any ATM operator fee
- If you need to upgrade for accounting features, costs can increase significantly
- Card replacement fee (if applicable) may not be disclosed upfront
🔧 Features
✓ Free Tier✓ Ai Assistant✓ Invoicing✓ Tax Reminders✓ Uk Business
📋 Assessment
💪 Strengths
- The AI assistant is the undeniable standout. You can simply type 'send invoice to John for £500' in the chat and ANNA drafts, sends, and tracks it. For expense management, photograph a receipt and it categorises it appropriately, extracting key data. This direct, conversational interaction genuinely reduces manual admin, which is the whole point of the product.
- The free plan includes a full business current account, a debit card, and unlimited invoicing with no monthly fees. That's a rare offering in the UK—most comparable neobanks charge £5-£10 per month for similar entry-level features. For a freelancer just starting, this zero-cost entry is a massive draw.
- Setup is frictionless. There's no hard credit check, so even those with poor or unestablished credit can open an account. In practice, this can be done in under an hour, often in minutes if your ID is ready. This accessibility opens the door for many who would be rejected by high-street banks.
- Tax deadline reminders are genuinely useful. ANNA tracks VAT and self-assessment dates, notifying you via the app so you don't miss submissions. This is a small but vital feature that helps avoid penalties, a tangible saving that offsets any perceived limitations.
⚠ Watch out for
- ANNA is not a regulated bank, so deposits are not FSCS protected. Instead, they are safeguarded under e-money regulations, which means if ANNA were to go bust, you might not get your money back as quickly or at all, though safeguarding is designed to protect it. For some, this lack of FSCS cover is a dealbreaker, especially for larger balances.
- There are no native integrations with popular accounting tools like Xero or QuickBooks. You can export statements manually, but you can't sync transactions. For freelancers who already rely on these platforms, this creates extra manual work that other neobanks often solve with seamless integration—a significant gap.
- The free plan feels limited once you have a few employees or contractors. Multi-user access, for instance, is only available on paid tiers, which start at £4.90 per month. Advanced invoice customisation is also locked behind the paywall, so your invoices will look generic until you upgrade.
- Customer support is chat-only, with no phone line. Response times can be slow during peak periods, and while the AI handles routine queries well, complex issues may require multiple back-and-forths. This can be frustrating if you need urgent help with a payment or card issue.
🎯 Best for
UK freelancers, contractors, and small business owners who want a no-nonsense, AI-assisted business account to handle invoicing, expenses, and tax deadlines without extra admin overhead.
🚫 Who should skip
Businesses that need international banking, integrated accounting software, or access to loans and overdrafts should look elsewhere.
📚 Learning curve
Minimal — the AI chatbot and simple setup make it easy to get started, even for beginners.
🧑⚖️ Verdict
ANNA Money is a solid choice for freelancers and new businesses who want a zero-cost business account with built-in invoicing and admin automation, especially if they value quick setup and don't require FSCS protection or deep accounting integrations. It's less suitable for established businesses wi
39/100
Free tier
Young Spanish residents and Gen Z or millennial users who want a no-cost, mobile-centric banking experience with gamifie
💰 Pricing
🆓 Free tier available
Standard tier is free with no maintenance fees. However, ATM withdrawals outside CaixaBank network may incur fees, and cashback is limited to partner offers (typically up to 5%).
Fee notes:
- ATM withdrawal at non-CaixaBank ATMs: Spain: 2 EUR per withdrawal; Eurozone: 2 EUR; International: 4 EUR (free in Premium and Metal tiers up to limits).
- FX conversion fee: 2% above the interbank rate for non-EUR transactions (may be reduced for Premium and Metal tiers, e.g., 1% and 0% respectively).
- Card replacement fee: 5 EUR for standard delivery (free for Premium and Metal customers).
- International transfer via SWIFT: 18 EUR per transaction (free or reduced for Premium/Metal).
- Foreign currency ATM withdrawal: 2% conversion fee plus potential ATM operator fee (e.g., 2 EUR outside CaixaBank network).
⚠ Watch for:
- ATM fees at non-CaixaBank ATMs: not clearly advertised; 2 EUR in Spain, up to 4 EUR abroad.
- FX markup: 2% on all non-EUR transactions, which is on top of any ATM operator fees.
- Inactivity fee: account may be charged 1 EUR monthly if no transactions for 6 months (waived for Premium/Metal).
- Cashback restrictions: cashback is only at partner merchants and may have monthly caps.
🔧 Features
✓ Free Tier✓ Caixabank Owned✓ Youth Focus✓ Gamified Savings✓ 4m Users
📋 Assessment
💪 Strengths
- Zero fees across the board: No monthly maintenance, no minimum balance, and the virtual card is issued for free. This is a significant advantage over traditional Spanish banks, which often levy fees for basic services. Your money goes further with Imagin.
- Gamified savings challenges: Imagin turns saving into a game. You can set personalized challenges, such as 'Save €500 by walking 10,000 steps a day', and track progress. This engages younger users who might otherwise neglect saving, building a strong financial habit.
- Cashback at partner merchants: Earn money back on purchases at curated brands like Amazon, Netflix, and local cafes. The cashback is paid as 'imagin coins' that can be converted to euros. It's a tangible benefit that adds up over time, making everyday spending feel less painful.
- Virtual and physical cards with instant use: Once the account is open, you get a virtual card immediately, usable for online and mobile payments. A physical card is also free and arrives quickly. This is great for online shopping and contactless payments.
- Integration with CaixaBank ecosystem: Since Imagin is backed by CaixaBank, it benefits from a large ATM network (no fees for withdrawals) and reliable transaction processing. You also get access to CaixaBank's security and regulatory compliance, which builds trust.
⚠ Watch out for
- Only for Spanish residents: You need a valid Spanish ID (NIE or DNI) to open an account. Non-residents and expats are excluded, which limits its appeal for the many digital nomads and international students in Spain.
- Spanish-only app: The entire user interface is in Spanish, with no option for English or other languages. This is a major barrier for non-Spanish speakers, making it difficult to navigate and understand the app's features.
- Customer support can be slow: Support is only through in-app chat (no phone or email), and response times can lag, especially during peak hours. Users have reported waiting a day or more for a resolution, which is frustrating for urgent issues like card blocking.
- No branches and limited advanced features: As a digital-only bank, there's no face-to-face service. While that's expected, Imagin also lacks more advanced offerings like investments, budgeting categories, or joint accounts, which some users may need as they grow financially.
- Withdrawal fees at non-CaixaBank ATMs: While ATM withdrawals are free at CaixaBank ATMs, using other networks in Spain can incur a fee. This is common, but it's a hidden cost to be aware of if you live in an area with few CaixaBank ATMs.
🎯 Best for
Young Spanish residents and Gen Z or millennial users who want a no-cost, mobile-centric banking experience with gamified saving tools and cashback incentives.
🚫 Who should skip
Non-residents of Spain, expats who need an account in English, or anyone looking for a traditional branch-based banking relationship with personal advice and mortgage/brokerage services.
📚 Learning curve
Minimal — the app is intuitive and onboarding takes just a few minutes, though understanding all the gamified challenges and cashback offers may take a brief look around.
🧑⚖️ Verdict
Imagin is an excellent choice for Spanish residents in their 20s who want a fee-free, mobile-first banking app with a rewards-driven approach to saving and spending. If you're not a Spanish resident or you need more comprehensive banking services, like investments or joint accounts, you should look
📊 Use Case Suitability
Higher score = better fit. Scores from editorial review.
Use CaseANNA MoneyImagin
Freelancer Invoicing92—
ANNA's AI assistant creates professional invoices from simple commands and sends
Tax Deadline Tracking90—
Built-in reminders for deadlines and automatic expense categorisation help self-
Expense Management85—
The AI categorises spending automatically and snapshots receipts, giving small b
Everyday Business Banking78—
It provides a functional UK business current account with a debit card, but lack
International Payments35—
International transfers carry higher fees and are not a core strength; you're be
Daily spending for Spanish students and young workers—90
Imagin offers no monthly fees, a simple mobile app, and virtual cards, making it
Gamified savings goals and challenges—95
Imagin's core differentiator is its gamified savings challenges, which turn savi
Getting cashback at partner merchants—85
The app provides regular cashback offers at a rotating set of brands, making it
🧭 Which One Should You Pick?
Choose ANNA Money if...
- You are: UK freelancers, contractors, and small business owners who want a no-nonsense, AI-assisted business account to handle in
- 👍 AI assistant genuinely reduces admin by creating invoices and categorising expenses from simple chat
- 👍 Free tier includes a business account, debit card, and invoicing without ongoing monthly costs.
- 👍 Fast setup with no credit checks, making it accessible to new businesses and those with poor credit.
- 💰 Free tier available
- ⚠ Trade-off: Not a regulated bank, so funds are not FSCS protected; you're relying on e-money
Choose Imagin if...
- You are: Young Spanish residents and Gen Z or millennial users who want a no-cost, mobile-centric banking experience with gamifie
- 👍 Completely free account: no monthly maintenance fees, no minimum balance, and no issuance fee for th
- 👍 Gamified savings experience: the app turns savings goals into interactive challenges, helping users
- 👍 Cashback at partner merchants: users get real money back on purchases at a curated list of brands, a
- 💰 Free tier available
- ⚠ Trade-off: Limited to Spanish residents: the account is not available for non-residents, an
❓ Frequently Asked Questions
Is ANNA Money really free?
Yes, ANNA Money offers a free business account with no monthly fee, including a UK sort code and account number, debit card, and basic invoicing. However, some features like international payments and cash deposits cost extra, and paid plans add advanced functionality.
What are ANNA Money's limits on the free plan?
The free plan includes a full UK business account with no monthly fee, but has limits on invoicing, card usage, and access to support. For example, you may pay per transaction or for cash deposits, and some advanced tools are only available on paid plans.
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