Neobanks in Tunisia: Why None Exists Yet, and What Would Change
No app-only bank operates in Tunisia. The law, wallet caps and capital rules explain why, and payment institutions are filling part of the gap.
Key takeaways
- As of October 2026, Tunisia has no licensed digital-only bank and no dedicated neobank licence.
- A full bank licence under Law 2016-48 requires TND 50 million in capital; a payment institution needs TND 5 million.
- Payment accounts are capped at TND 1,500, 5,000 or 20,000 depending on level, under BCT circular 2026-10.
- The most realistic neobank models are bank-owned digital brands or payment institutions partnering with banks.
Neobanks in Tunisia are still more idea than reality. As of October 2026 there is no app-only bank licensed in the country and no dedicated digital-bank licence, yet the gap they would fill is large: only 37.8% of adults hold an account, according to the World Bank's 2025 Global Findex. This article looks at what the law allows, who is getting close, and what would have to change.
Why neobanks in Tunisia keep coming up
The case is easy to make. Tunisia's account ownership has barely moved in a decade, from 36.9% in 2017 to 37.8% in the 2024 survey data published in the 2025 Findex. Smartphone use is widespread, mobile payments grew 80.5% in 2025 according to the BCT, and a large diaspora sends money home. Around the world, neobanks have won customers by making account opening simple and cheap.
The debate is not new. At a KPMG and APTBEF seminar in Tunis in April 2019, speakers discussed whether neobanks would become part of the Tunisian banking landscape. BCT Vice-Governor Nadia Gamha pointed to the payment-institution circular of December 2018 as a sign that digital financial services were coming. Seven years later, the payment-institution route has delivered wallets, not banks.
What Tunisian law allows
Banking in Tunisia is governed by Law 2016-48 on banks and financial institutions. According to Oxford Business Group's analysis of the law:
- Banks need a licence granted by a committee chaired by the BCT governor, in two stages (provisional, then final).
- The minimum capital for a bank was doubled to TND 50 million.
- The law introduced "à la carte" licences alongside universal ones, and created a deposit guarantee fund covering up to TND 60,000 per depositor.
- It also authorised non-bank payment institutions.
There is no separate licence category for a branchless or digital-only bank. A neobank wanting to take deposits and lend would need a full bank licence and the capital that comes with it. Egypt took a different path: in August 2025 the Central Bank of Egypt approved the licence of Onebank, the country's first fully digital bank, set up by Banque Misr. Our article on Egypt's fintech boom has more on that market.
Source: Challenges, reporting BCT circular 2026-10, September 2026
View the data
| Label | Value |
|---|---|
| Level 1 | TND 1,500 |
| Level 2 | TND 5,000 |
| Level 3 | TND 20,000 |
The practical route: payment institutions
Most "neobank-like" products in Tunisia are therefore built as payment institutions. These require TND 5 million in paid-up capital and BCT approval. They can open payment accounts, handle deposits and withdrawals, transfers and card payments, but only in dinars, only within Tunisia, and without granting credit.
The BCT's new circular 2026-10, published on 25 September 2026, replaces the 2018 framework. As reported by Challenges and Webdo, it keeps three account levels:
- Level 1 (individuals only): balance capped at TND 1,500.
- Level 2: balance capped at TND 5,000, cash withdrawals up to TND 3,000 a day.
- Level 3: balance capped at TND 20,000, cash withdrawals up to TND 10,000 a day.
The circular also allows remote account opening with at least two-factor authentication and a liveness check, and imposes annual cybersecurity audits, stricter governance and BCT approval for partnerships. Institutions have three months to comply.
These caps make a wallet useful for payments and transfers, but not a full replacement for a bank account, since salaries above the cap, savings and credit stay with banks.
Who is getting close
A few Tunisian players are testing the edges:
- Ooredoo Fintech Tunisie received BCT authorisation in February 2026 to launch walletii, offering bill payments, transfers and cash services through Ooredoo's distribution network.
- Insight Plus, a labelled startup founded in 2019 and known for its FX platform for banks and exchange offices, told Managers in January 2026 that it plans a cross-border offer for the diaspora, with dinar account opening in Tunisia targeted for mid-2026. The article does not say under which licence.
- EasyBank, founded in 2023, raised TND 1.2 million (about $370,000) in January 2025, according to Wamda. Despite its name, it is a fintech platform giving access to loans and banking services, not a licensed bank.
Banks themselves are also adding remote onboarding, now possible under a BCT circular of 28 February 2025 on electronic customer onboarding. A bank-owned digital brand may be the most realistic form a Tunisian neobank takes. See our overview of digital banking in Tunisia.
What would need to change
For a true neobank to emerge, several conditions would have to align:
- A proportionate licence. Either a digital-bank category or a clear path for a lighter "à la carte" licence focused on deposits and payments.
- Higher or more flexible wallet caps, or a path for payment institutions to partner with banks on savings and credit.
- Foreign-exchange flexibility. Cross-border services for the diaspora are constrained by FX rules that are only starting to change.
- Digital identity at scale, so that remote onboarding is cheap and reliable.
- Patient capital. TND 50 million is a large sum in a market where startup rounds are typically small.
The BCT's regulatory sandbox is one place where such models could be tested before any licence reform.
The bottom line for founders
Launching a neobank in Tunisia in 2026 means choosing between raising bank-level capital or working within payment-institution limits. Most founders will take the second route, partner with a bank for deposits and credit, and focus on user experience, onboarding and niche segments such as the diaspora, students or small merchants. Licensing and FX reform will decide whether a full digital bank becomes possible.
Companies in this article
Frequently asked questions
Is there a neobank in Tunisia?
As of October 2026, no fully digital bank is licensed in Tunisia. Digital wallets from payment institutions and online services from traditional banks cover part of the need, but they are not neobanks in the full sense.
Can I use Revolut or N26 in Tunisia?
Foreign neobanks hold no BCT licence in Tunisia, and Tunisian payment institutions may only operate in dinars within Tunisia. Residents should check each provider's own eligibility rules and Tunisian FX regulations before using a foreign account.
How much capital do you need to open a bank in Tunisia?
Under Law 2016-48, the minimum capital for a bank is TND 50 million, and the licence is granted in two stages by a committee chaired by the BCT governor. A payment institution requires TND 5 million in paid-up capital.
Sources
- By the book: A new banking law provides clearer guidelines — Oxford Business Group
- Paiement mobile en Tunisie : la BCT resserre les règles avec sa nouvelle circulaire n°2026-10 — Challenges
- Les nouvelles règles régissant l'activité et le fonctionnement des établissements de paiement — Ilboursa
- Insight Plus : la fintech tunisienne qui veut devenir la Revolut de la diaspora — Managers
- Tunisian fintech EasyBank secures $370,000 investment — Wamda
- Égypte : la Banque centrale valide la création d'une banque entièrement numérique — Tunisie Numérique
This article is for information only and is not legal, financial or investment advice. Figures are dated and sourced; check the latest official publications before making decisions.
