Neobank vs SeaBank in one line: “Seabank” is not a type of bank; SeaBank is a brand of digital banks owned by Southeast Asia’s Sea Group, so the comparison with a neobank is really about one specific, licensed digital bank versus a general label. SeaBank Indonesia is a licensed bank supervised by Indonesia’s OJK, whereas “neobank” can describe anything from a full bank to an app that sits on top of one.
Last reviewed: October 2026.
If you searched for “neobank vs seabank”, you probably met the name SeaBank in an app store or on Shopee and wondered whether it is a neobank, a real bank or something else. In addition, this article clarifies what SeaBank is, where it operates, how it compares with the neobank idea, and how to check protection if you are a customer in Southeast Asia. As a result, it is not a ranking, and it does not quote rates or fees because they change often.
What SeaBank actually is
SeaBank is the banking brand of Sea Limited (Sea Group), the company that also owns the Shopee marketplace. In practice, its fintech arm, formerly SeaMoney, took the name Monee on 8 May 2025, according to the Wikipedia overview of SeaBank. Sea runs several banking brands across the region, so the name does not refer to one global bank.
The most prominent version is in Indonesia. ANTARA News reports that SeaBank began operating on 10 February 2021 under an OJK decision and operates under licence and supervision from the Financial Services Authority (OJK). Also, it has no physical branches for face-to-face service and runs through its app.
SeaBank in Indonesia
SeaBank Indonesia has grown quickly using Sea’s ecosystem. Indonesian business daily Bisnis reported that it reached 28 million customer accounts in 2025, with net profit of Rp678.4 billion, up 79% from the previous year, in its April 2026 report. A later Bisnis article on H1 2026 results says it was the most profitable of Indonesia’s digital banks in 2025 and had been profitable since 2022; the OJK official quoted in that piece cautioned that quality of growth matters more than profit or user counts alone.
Features described by ANTARA include virtual-account payments, bill payments, e-wallet top-ups and savings. Interest rates, transfer allowances and fees vary, so check them in the app. Indonesia’s deposit insurer, LPS, publishes the current guarantee limit and the qualifying interest-rate rules on its own website, so verify at lps.go.id rather than relying on a summary.
SeaBank in the Philippines and MariBank in Singapore
Sea’s other banking activity now looks different after a reorganisation. MariBank, Sea’s Singapore digital full bank, opened in March 2023 after receiving a licence from the Monetary Authority of Singapore. In April 2025, MariBank acquired SeaBank Philippines, which, according to Fintech News Singapore, placed it under MariBank’s group structure.
Fintech News Philippines then reported that the former rural bank, now MariBank Philippines, began operating under a digital banking licence on 18 July 2026, with deposits remaining insured by the PDIC. Sea is also described as holding banking licences in Malaysia. Brand names and structures are still changing, so confirm the current legal entity in the app before relying on any summary.
Neobank vs SeaBank: how they differ
A neobank is an app-first account provider. In addition, it may be a full bank or a partner-bank front end. SeaBank Indonesia fits the app-first idea but is itself a licensed bank, so it is closer to a digital bank than to a partner-model neobank. Also, the term “neobank” is more common in Europe and the US; in Southeast Asia, regulators and the press more often say digital bank. If you are unsure of the labels, read the definition of a neobank and neobanks vs digital banks.
| Question | SeaBank Indonesia | Typical neobank |
|---|---|---|
| Legal status | Licensed bank under OJK | Varies: bank, partner front end or non-bank |
| Branches | None for face-to-face service | None |
| Parent | Sea Group, linked to Shopee | Often an independent fintech |
| Deposit protection | Indonesian scheme (LPS); check current terms | Depends on the entity holding funds |
Superbank and other Indonesian digital banks
SeaBank is not the only digital bank in Indonesia. Superbank, backed by Grab, Emtek, Singtel and KakaoBank, listed on the Indonesia Stock Exchange on 17 December 2025, according to BCA Sekuritas. We explain how that model compares in neobank vs superbank. Bank Jago and Neo Commerce also appear in Indonesian coverage of digital banks.
Questions to ask about any e-commerce-linked bank
Banks tied to a marketplace or ride-hailing app raise a few specific questions:
- Where is customer data shared? Check how the bank and its parent use your transaction data, and what you consent to.
- How does it lend? Many e-commerce banks lean on credit to shoppers and merchants. In addition, read the terms and total cost before borrowing.
- Is the savings product a deposit? E-wallet balances in the parent’s app may fall under different regulation from bank savings.
- What happens if the app is unavailable? Look for a documented complaints route, and note regulator contact details.
Timeline of the SeaBank and MariBank story
- 10 February 2021: SeaBank Indonesia begins operating under an OJK decision (ANTARA News).
- March 2023: MariBank opens in Singapore after receiving a digital full bank licence.
- April 2025: MariBank acquires SeaBank Philippines (Fintech News Singapore).
- 8 May 2025: Sea’s fintech arm SeaMoney became Monee.
- 2025: SeaBank Indonesia reports 28 million customer accounts and Rp678.4 billion net profit (Bisnis).
- 18 July 2026: MariBank Philippines starts operating under a digital banking licence (Fintech News Philippines).
The timeline shows why it is risky to rely on old blog posts or app-store descriptions: ownership, brands and licences in this region are changing quickly.
How to read profit and customer numbers
Headline numbers such as 28 million accounts or a large percentage rise in profit sound reassuring, but they are not the same as safety. Also, an account count can include inactive or very small balances, and profit can reflect fast lending growth that carries credit risk. Likewise, the OJK official quoted by Bisnis made a similar point, saying that quality of growth matters more than profit or user counts alone. For your own decision, the more useful checks are the licence, the deposit guarantee, the clarity of the terms and how responsive the complaints process is.
Neobank vs SeaBank: what this means for you
- Confirm the legal entity (for Indonesia, the entity named in the app’s terms) and look it up on the OJK website or its licensed-bank register.
- Check LPS for the current guarantee limit and conditions on interest rates, and compare it with your balance.
- If you are in the Philippines, check the BSP list of banks and PDIC coverage, noting that the Philippine SeaBank has been moving under MariBank.
- Keep a second account elsewhere in case of outages or freezes.
- Do not rely on the word “neobank” or “SeaBank” as proof of safety; check licences.
Neobank vs SeaBank: a worked example
An illustrative scenario makes the neobank vs SeaBank distinction concrete. We invented and rounded the figures, and the example does not describe any real account terms.
A Shopee seller in Surabaya receives marketplace payouts into a SeaBank account because the app she already uses offers it. Her balance is a deposit at a licensed Indonesian bank supervised by OJK, so the LPS deposit guarantee applies up to the limit and conditions published by LPS. She can also download the standalone SeaBank app and use the account without the marketplace.
Her cousin uses a standalone neobank app from a different provider. That app may be a licensed bank, or it may be a front end for a partner bank. If it is the latter, his deposit sits at the partner, and he needs that partner’s name to check his LPS position. Overall, the app’s own brand is not what protects him.
In this neobank vs SeaBank comparison, the seller’s situation is simpler to verify because one licensed entity holds the money. Consequently, the first question for any app is not what it is called but which bank is behind the balance.
Neobank vs SeaBank checklist: what to verify
- Confirm the legal entity. Find the exact bank name in the app’s terms. For SeaBank Indonesia that is PT Bank Seabank Indonesia; for a neobank it may be a partner bank.
- Check the regulator’s list. Search the entity on the OJK website or the relevant national supervisor. A brand name alone is not evidence of a licence.
- Read the deposit guarantee rules. LPS publishes the current limit and the interest-rate condition that deposits must meet to qualify. In short, check both on lps.go.id.
- Separate wallet from bank. ShopeePay is an e-money wallet; SeaBank is a bank. Keep savings on the bank side and treat the wallet as spending money.
- Test standalone access. Install the bank’s own app and confirm you can log in and transfer out without going through the marketplace.
- Review promotional terms. High introductory savings rates may come in tiers or run for a limited time. Likewise, read the conditions before you move a large balance.
For the same checks applied to another ecosystem bank, see neobank vs superbank, and for the general licensing picture read whether neobanks are regulated.
Common misconceptions about neobank vs SeaBank
- SeaBank is a category of bank. It is a brand owned by Sea Group, not a licence type. For this reason, the question is really about one specific bank versus a general label.
- SeaBank only works inside Shopee. SeaBank Indonesia also offers its own app. Shopee integration is a distribution channel, not the whole product.
- Every neobank is less safe than SeaBank. A licensed neobank with deposit cover is in the same position. In practice, an unlicensed front end is not. As a result, the licence decides, not the label.
- Deposit cover is unlimited. LPS and other schemes set limits and conditions. Balances above the limit, or deposits earning above the guaranteed rate, may fall outside cover.
- The Philippine and Indonesian banks are the same institution. They are separate legal entities under different regulators, and the Philippine business has changed hands within the group, as the timeline above shows.
Sources and further reading
- SeaBank (Wikipedia overview)
- ANTARA News: what is SeaBank
- Bisnis: SeaBank 28 million accounts and profit growth
- Bisnis: digital bank results
- Fintech News Singapore: Sea and MariBank
- Fintech News Philippines: MariBank digital bank licence
- BCA Sekuritas: Superbank listing
- LPS Indonesia Deposit Insurance Corporation
Frequently asked questions
Is SeaBank a real bank?
SeaBank Indonesia is a licensed bank supervised by OJK, according to ANTARA News. Verify the current licence on the regulator’s site.
Is SeaBank a neobank?
It is app-first and branchless, so it fits the neobank idea, but it is a licensed bank. In Southeast Asia it is more often called a digital bank.
Who owns SeaBank?
SeaBank is part of Sea Limited, which also owns Shopee. Its fintech arm was renamed Monee in May 2025.
Is my money in SeaBank insured?
Indonesian bank deposits fall under the LPS scheme within its limits and conditions. In addition, check lps.go.id for the current limit and interest-rate rules.
More neobank vs SeaBank questions
What happened to SeaBank Philippines?
MariBank acquired it in April 2025, and Fintech News Philippines reports that MariBank Philippines began operating as a digital bank on 18 July 2026. Confirm in the app.
What is MariBank?
MariBank is Sea’s digital full bank in Singapore, which opened in March 2023 under a MAS licence.
Is SeaBank the same as Superbank?
No. Superbank is a separate Indonesian digital bank backed by Grab, Emtek, Singtel and KakaoBank.
Can I use SeaBank outside Indonesia?
Account availability is tied to local licences and rules. Do not assume an Indonesian account works elsewhere; check eligibility with the bank.
Is neobank vs SeaBank the right comparison?
Only loosely. SeaBank is one licensed bank brand, while neobank is a general label for app-first providers. In addition, the useful comparison is between a specific licensed bank and the licensing model behind any app you are considering.
Does SeaBank have its own app?
Yes. SeaBank Indonesia offers a standalone app in addition to its integration with Shopee. Also, check the app store listing to confirm the publisher is the bank itself.
Which is better for savings, SeaBank or a neobank?
Neither label answers that. In short, compare the licence, the deposit guarantee limit and conditions, the interest-rate terms and the ease of moving money out. A licensed bank covered by LPS is the baseline for savings in Indonesia.
This article is general information, not financial advice. Products, licences and availability change, so check the provider and the relevant regulator or deposit-protection scheme before you open an account or move money.