Best Banking Apps | Functionality and Convenience

Manage all your finances through your mobile phone. What is most important to you when choosing a mobile banking application? You may need the highest security so you can rest assured that your account will not be compromised when you use the application. The basic functions, such as clicking the button to deposit a check and checking the balance in real-time, are always great. But the most important seems to be the ease of use of the application and the highest rated customer service. Read more to know the Best Mobile Banking Apps of 2021

The mobile banking applications listed here can be downloaded for free on Apple and Android devices. Of course, the SMS and data usage fees of your mobile operator also apply.

The following applications are excellent, so they are not ranked, but in alphabetical order.

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Best Banking Apps-2021

Best Mobile Banking Apps-ALLY BANK

By operating online only, United Bank can provide higher interest rates and lower fees than other traditional financial institutions. In the United States, you can access more than 43000 ATMs that you can use free of charge. Ally is one of the highest-rated banks providing interest check accounts, which is not a common product. It also provides high-yield savings account with an APY that competes with all banks.

What we like: is that you can perform all the basic tasks you expect from the banking application, such as bill payment, finding ATM, mobile check deposits, viewing transaction history, and opening the application with a fingerprint instead of a password. The format of the application itself is novel and easy to use. You can also link other ally accounts, such as CD or IRA, for more direct review. As an additional bonus, you can read the stock market news directly from the app. In addition, ally uses Zelle, which allows you to transfer money within or between ally and non-ally accounts.

What we don’t like is that Android users give apps lower scores in the Google play store (4.1) than iPhone users give apps in App Store (4.7). Although this is not a scam of the application itself, despite its strong ATM access, it is impossible to deposit cash into your ally account.

Best Mobile Banking Apps-BANK OF AMERICA

Bank of America is a large national bank with more than 17000 ATMs in the country. It is a trusted name in the financial field. Its financial services are basic, and your savings account won’t have any crazy high interest rates. However, it provides customers with powerful technology and saving tools.

What we like is that if the bank of America finds a suspicious transaction, it will immediately send you a notice so that you can verify or reject the transaction. You can do this in up to 60 days. You can easily link your Merrill Lynch brokerage account to the mobile application. Or you can even view the information directly from the Account tab. In the Amerideals section, you can find local cash-back opportunities, which are an interesting way to earn rewards on the way, such as commuting in the morning or evening.

What we don’t like is there is nothing to write regarding the appearance of the application. Also, pay attention to your balance. Because if you want to avoid the maintenance fee of $25 a month, you need to maintain your monthly account minimum. If you are not careful, you may be hit by the overdraft fee of $35, up to four times a day.

Best Mobile Banking Apps-CAPITAL ONE

If you have capital one in your wallet, you can access a slightly eccentric but highly rated banking application. Of the five stars in Google App store and Apple store, it was rated 4.7 stars and 4.8 stars respectively. As a bank, capital one’s customer satisfaction has been high and provides high-yield savings accounts and highly competitive APY.

What we like: if you have other capital One accounts, such as loans or credit cards, you can view and manage them in the app. You can use the accumulated bonus points to repay yourself through the statement credit card. If you can’t find your credit card temporarily, you can lock the access right directly from the application. If you finally find it, you can cancel the move. So you don’t have to cancel the card a few days later.

What we don’t like is that there are so many functions. If you just want to check your balance, you will sometimes feel information overload.

Best Mobile Banking Apps-HUNTINGTON BANK

You might not have listened about Huntington bank. But it is the only banking application that scored full marks in all categories in the 2021 J.D. Power Survey: overall satisfaction, navigation convenience, appearance, availability of key information, service scope, and clarity of information. The bank is located in the Midwest and always provides high-quality customer service.

What we like is in addition to the standard functions, you can also set up push notifications to notify you when transactions occur in your account. You also do not need to log in to view your account balance. If you accidentally overdraw money from your account, the 24-hour Grace feature allows you 24 hours to deposit money before paying the fee

What we don’t like is that there’s nothing we don’t like about the application itself. However, it may be difficult for customers in some regions to find ATM access. Huntington has branches and ATMs in only eight Midwestern states.

Best Mobile Banking Apps-WELLS FARGO

Another large financial institution is Wells Fargo, which has a huge ATM network and locations. It provides low fees for checking accounts, which can be easily waived if you have a minimum daily balance of $500, a direct deposit of $500 or more per month, 10 or more debit card transactions per month, an associated Wells Fargo campus card, or between the ages of 17 and 24. Wells Fargo has more than 13000 ATMs and 7, 200 branches across the country.

What we like is that it’s easy to pay bills through the application. You can set your touch ID or face ID and access it without a user name or password. For technophobia, they prefer to go to the old school, you can use the text bank command. For example, enter BAL to get your account balance, view recent account activity, and view your credit card account information.

What we don’t like is that Wells Fargo’s savings account interest rate is very low. Even if its application is first-class, you may want to look elsewhere for your savings needs.

FAQ

what is a banking application?

A Banking application is a mobile application where you can access the details of a bank account and complete transactions directly from your mobile phone, tablet or mobile device. Depending on the bank you visit, you can complete various operations through the bank application.

Most banking applications allow you to view current balances and transaction history, deposit cheques (up to a certain amount of dollars), initiate transfers to other bank accounts, schedule payments or pay bills, send personally to personal payments, and find ATMs that are free to use.

How does the banking application work?

In general, you have to download your banking app through app stores, Apple App Store or Google play store.

After downloading and opening the application, you will be asked to log in to your account using the same login information as accessing your bank account online from a web browser. After you log in, the experience will vary depending on the banking application you access. But usually, you can select tasks to perform, such as viewing balances, viewing transaction history, or making mobile deposits.

The banking application works like any transaction you complete at a bank that does not involve cash. The hope is that you can access your account and get your financial services easier and faster if you have to go to the bank to complete this task. However, you cannot open an account from most banking applications.

What is the price of the banking application?

The bank application can be downloaded and used for free. But the cost of managing the application may be passed on to you by the bank. Charging for mobile app access is not common, but if you are, it is likely to be a fine-print item in your bank account document. Most banks only include the cost of the application in their overall operating costs. So you never know what you’re going to pay for it.

What features should I look for in the banking application?

The functionality you need in your banking application will depend on why you started using your bank account.

Most people will need basic features that should be fairly standard in most large bank mobile applications today. These features include viewing your balance, viewing transaction history for at least 90 days, paying bills online, making personal to personal payments, arranging payments, arranging one-time transfers to other accounts in your bank and third-party banks, depositing cheques, and contacting customer support.

If a banking application does not have at least these features, it may not be a very powerful product.

Is the application safe for banking?

Generally speaking, yes, most banking applications are very secure to use. No matter what functions their mobile applications provide, banks must have good security. If you have accessed bank information online through a web browser, you will access the same database and information through a mobile application. In addition, if there is any problem, FDIC will provide up to $250000 protection for your funds in all reputable banks.

How do we choose the best banking application

We search the Internet for customer comments, both positive and negative, and carefully consider the ratings of Apple’s app store and Google play store. We chose only the top financial institutions, which are insured by the Federal Deposit Insurance Corporation (FDIC), and process a reputation for high-quality banking and customer service. For applicable institutions, we relied on the 2021 J.D.Power U.S. banking mobile app satisfaction survey to obtain richer data to help us analyze.

We would like to hear about your problems, questions, and suggestions. So feel free to contact us.