Tomorrow bank: Review

Discover the up-and-coming sustainable neobank in our in-depth review

May 28, 2022


General Information

Tomorrow is one of the latest mobile-first financial services app with a focus on sustainability and ethical investment practices. Based in Germany since its launch in 2018, the financial powerhouse app offers German bank accounts and services that enables customers to effortlessly contribute to projects aiming to tackle climate change, offset the user's CO2 emissions and more. Tomorrow's partnership with Solarisbank enables the neobank to dedicate more resources towards creating an impressive mobile banking experience, while still enjoying all the benefits of being a secure, fully-licensed and regulated financial institution. Users get to choose from a selection of 3 plans at Tomorrow, with all of them both providing the "bread and butter" set of core banking features, while protecting 1m² of rainforests with each euro spent using the debit card. Aside from Germany, Tomorrow is also available in 18 other countries across Europe including the Netherlands, France and Spain.

Quick Summary

Founded 2018
Headquarters Hamburg, DE
Users > 90'000
Official website Tomorrow.one
Available in 17+ countries
Protection up to €100'000
USP Sustainability
Shared accounts Available
Tomorrow even offers an amazing wooden card
Tomorrow even offers an amazing wooden card

Personal banking: Available plans

Tomorrow offers users three different subscriptions that greatly vary in both price and features available. At the lower end is the "Now" plan that only costs €3 per month, while the high-tier premium plan called "Zero" is priced at €15 per month, providing users with flexibility and ensuring anyone can find a plan that suits them, without feeling dissatisfied or forced to pay for products you do not intend to use. The three plans offer a different set of smart app features and varying ways you could empower your sustainability efforts. Below you will find a breakdown of all the plans available at this bank.

Tomorrow Now

€3,00 p/m

Now is a plan that delivers on the sustainability promise of Tomorrow and lets you enjoy a slick mobile banking experience at a very reasonable monthly cost. At only €3 per month, you get to protect rainforests with all you purchases! Classic digital bank features like real-time app notifications on transactions, spending insights and an additional "Pocket" for setting some money aside are also included.

Tomorrow Change

€7,00 p/m

Change plan builds on the lower-priced Now, with the end result being a solid everyday bank account. Not only do you get up to 5 "Pockets" (essentially, additional sub-accounts) for your saving goals or budgeting, but also an ability to use a shared bank account with your partner. In addition, you get 5 fee-free ATM withdrawals every month and more design choices for the free Visa debit card.

Tomorrow Zero

€15,00 p/m

There are 4 key upgrades you get from going from the Change plan to Zero. As a premium-tier "flagship" plan user, you get unlimited free cash withdrawals, as well unlimited "Pockets" for your budgeting needs. Other than that, you can "wow" your friends with a stylish Visa debit card made of wood, all while becoming carbon-neutral by getting your CO₂ footprint offset on an annual basis. It truly is the ultimate green banking plan for someone who is serious about reducing their climate impact.

Take a look at the account comparison table below. Want to get knowledge hands-on? Visit Tomorrow's website and download the app!

Plan Now Change Zero
Bank Account: General information
Price, monthly €3,- €7,- €15,-
Account European account (German IBAN)
Sub-accounts 1 5 Unlimited
Shared Accounts not available yes yes
Cards
Debit cards yes (included at no cost)
Wooden card €20,- Included
Replacement card €10,-
Apple Pay yes
Google Pay yes
ATM Withdrawals
Free per month no 5 Unlimited
Cost €2,- each €2,- after 5th Free
Currency fee No additional FX fees
Transaction Fees
SEPA Free
Instant payments Free
Card payments No fee (also for currency payments)
Other information
Deposit protection Insured up to €100'000
3D Secure yes
CO₂ Offset no yes yes
Contactless payments with Tomorrow

Pros & Cons of Tomorrow

Advantages

  • Every plan is sustainable: The fintech app gives you the ability to be sustainable with every plan, you are making a tangible impact by simply paying with your Tomorrow card. All the customers’ deposits are only invested in green or sustainable projects.
  • Protection on par with "traditional" banks: Thanks to its partnership with Solarisbank, your deposits with Tomorrow (up to €100,000) is protected by the National Deposit Insurance.
  • Got the Essentials: All the basics you need - such as Apple/Google Pay, Joint Account, fee-free spending abroad - are all possible with Tomorrow’s plans.
  • Phone support: Unlike most mobile banks, you don’t just get support through the app or email. Phone support is also available at Tomorrow, making it easier to reach in urgent situations.

Disadvantages

  • No cash deposits: This is especially surprising to see from a neobank based in Germany, where cash is still very common. At the moment, it is not yet possible to deposit cash directly into your Tomorrow bank account, so you might not be able to get rid of your old bank account just yet.
  • Limited options for savings: You can set aside money for savings and that’s about it. You will be slightly disappointed if you expected an interest on your savings account or any other investment options in the same app.
  • Deposit fees: If you hold more than €50,000 with Tomorrow, Solairisbank will charge a safekeeping fee of 0,5% p.a. on the amount beyond the €50,000 limit.
Tomorrow has a very appealing color scheme

Summary: Is Tomorrow bank a good choice?

Tomorrow is a pretty decent choice if you’re looking for a sustainable banking option that provides also a slick mobile experience. We’re pleasantly surprised by the smart app features it offers such as "pockets" for budgeting and insights. If you’re considering between Tomorrow and bunq (a Dutch Fintech bank also boasting a sustainability as their prime focus), it’s worth noting that all Tomorrow’s plans have its core "green" features available, whereas only bunq’s Easy Green plan comes with its green feature. So if you’re not looking to break the bank just yet for a top-tier sustainable option, Tomorrow’s Now or Change plans might be some great choices for you.

If you have concerns about the safety of your funds with Tomorrow bank, rest assured: your funds are well-protected and taken care of with this German bank. The credit balance of each Tomorrow customer is actually managed by Solarisbank in Berlin. Solarisbank holds a German banking license and is thus part of the deposit guarantee fund of the Federal Association of German Banks. Thanks to that, your funds are automatically protected up to the total amount of 100,000 Euros. This protection applies per customer per bank - in this case Solarisbank. In case you have several accounts with Solarisbank, the deposit protection applies to all your accounts in total. This corresponds to the standard for all European credit institutions. In short, yes - you can trust Tomorrow bank!


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