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Best Mobile Banking Apps For December 2024
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Whether you bank from your phone often or if you prefer banking in person, you'll probably use your bank's mobile app every so often. Mobile banking apps should let you do many of the things you can do in person such as check your balance, pay your credit card bills, and transfer money. We've surveyed many nationwide mobile banking apps from banks and credit unions and listed those with the best ratings.
Featured Offer
Chime® Checking Account
It indicates a confirmed selection.
PerksFees
no monthly service fee
Annual Percentage Yield (APY)
None
Minimum Opening Deposit
$0
ProsChime has one of the best checking accounts out there, but it doesn't offer joint accounts or pay the best savings rate. Its strongest feature is that it's great for people who might not qualify to open accounts elsewhere — it doesn't check your credit score or banking history when you apply for a checking account, savings account, or credit card. It also provides several credit-building tools.
Chime Checking Account review An arrow icon, indicating this redirects the user." Product DetailsThese are our top picks for mobile banking apps. If you're also interested in other useful apps, consider going through our best budgeting apps guide.
Best Mobile Banking App ReviewsThe best banking apps have easy-to-use interfaces that make it easy to manage your account. With just a few taps, you should be able to view your account balances, deposit checks, and contact customer support. With some apps, you can also do things like see your balance without logging in or track your credit score.
We have top picks from both brick-and-mortar and online financial institutions, so you have different possibilities to explore.
AllyAlly Spending Account
Insider's RatingA five pointed star A five pointed star A five pointed star A five pointed star A five pointed star
4.75/5Fees
no monthly service fee
Annual Percentage Yield (APY)
0.10% to 0.25%
Minimum Opening Deposit
$0
ProsThrough the Ally mobile app you can set up savings or spending buckets that let you save for separate goals, like an "Emergency fund" and "Travel Account." You can also use the Surprise Savings feature to evaluate how much you can afford to save in your checking account, then automatically transfer extra money into savings up to three times per week.
Ally offers 24/7 live customer support, both over the phone and via chat. You can also find nearby ATM locations while using the app.
Some of our other top picks also have better average scores in the Google Play store.
Ally Bank Review
Bank of AmericaBank of America Advantage Plus Checking Account
Insider's RatingA five pointed star A five pointed star A five pointed star A five pointed star A five pointed star
3.75/5It indicates a confirmed selection.
PerksFees
$12 monthly service fee
Annual Percentage Yield (APY)
None
Minimum Opening Deposit
$100
ProsBank of America is an excellent national banking option for avid mobile users. The brick-and-mortar bank ranks second in banking mobile app satisfaction, according to the 2024 J.D. Power U.S. Bank Mobile App Satisfaction Study.
The mobile app has numerous security features. For example, the app has a security meter that visually represents how to increase the level of protection in your account. You can also receive mobile app alerts for your account balance, or order to replace your debit card if it is lost.
Keep in mind Bank of America checking and savings accounts have monthly service fees unless you meet certain requirements. If you want bank accounts that do not charge any monthly service fees the best online banks may be more appealing for you.
Bank of America Review
Capital OneCapital One 360 Checking
Insider's RatingA five pointed star A five pointed star A five pointed star A five pointed star A five pointed star
4.5/5It indicates a confirmed selection.
PerksFees
no monthly service fee
Annual Percentage Yield (APY)
See website for details
Minimum Opening Deposit
$0
ProsThe Capital One mobile app is rated the highest in mobile app customer satisfaction among national banks, according to 2024 J.D. Power U.S. Bank Mobile App Satisfaction Study. You can use the bank's app to deposit checks, track your credit score, or monitor your bank account.
If you're also set on earning a high interest rate on a bank account, bear in mind that other online banks may have more competitive savings or CD rates right now.
Capital One 360 Review
Charles SchwabSchwab Bank High Yield Investor Checking® Account
Insider's RatingA five pointed star A five pointed star A five pointed star A five pointed star A five pointed star
4.5/5Fees
no monthly service fee
Annual Percentage Yield (APY)
0.10%
Minimum Opening Deposit
$0
ProsCharles Schwab lets you invest, save, and spend in the same app. You can use the app to deposit checks or make lists to help monitor market trends.
Some of our other top picks have better Google Play ratings. You must also invest with Charles Schwab to open a checking account.
Charles Schwab Review
ChaseChase Total Checking®
Insider's RatingA five pointed star A five pointed star A five pointed star A five pointed star A five pointed star
3.5/5It indicates a confirmed selection.
PerksFees
$12 monthly service fee
Annual Percentage Yield (APY)
None
Minimum Opening Deposit
$0
ProsThere are several Chase checking accounts, and Chase Total Checking® is the bank's most popular choice. It offers several ways to waive the monthly fee, and you may qualify for a $300 bank account bonus. But if you want perks like early direct deposit or waived out-of-network ATM fees, one of Chase's other options could be a better fit.
Chase Total Checking review An arrow icon, indicating this redirects the user." Product DetailsThrough the Chase mobile app, you can manage your bank accounts, investments, and credit card/card points. You may track your credit score or deposit checks.
The Chase mobile app allows you to set up automatic savings transfers and create folders for separate savings goals, like "Vacation Fund" or "College Savings." The mobile app is rated highly in customer satisfaction among national banks, according to the 2024 J.D. Power U.S. Bank Mobile App Satisfaction Study.
While Chase offers strong mobile banking, you'll need to be mindful of monthly service fees. Most of the accounts have ways to waive fees, but if you would prefer a fee-free bank account you might prefer another bank.
Chase Bank Review
M&T BankM&T Bank EZChoice Checking
Insider's RatingA five pointed star A five pointed star A five pointed star A five pointed star A five pointed star
4/5It indicates a confirmed selection.
PerksAnnual Percentage Yield (APY)
None
Minimum Opening Deposit
$25
ProsM&T Bank ranks No. 1 in customer satisfaction for a regional bank, according to the 2024 J.D. Power U.S. Bank Mobile App Satisfaction Study.
M&T mobile banking lets you track spending and make budgets with M&T Money Smart. You'll also have access to many standard banking features. For example, you'll be able to view your account balances, make mobile check deposits, use Zelle, and manage any debit or credit cards.
The bank has over 700 branches in the U.S. But its locations are primarily on the East Coast.
M&T Bank Review
SynchronySynchrony Money Market Account
Insider's RatingA five pointed star A five pointed star A five pointed star A five pointed star A five pointed star
4.75/5Fees
no monthly service fee
Annual Percentage Yield (APY)
2.25%
Minimum Opening Deposit
$0
ProsYou can your credit cards and bank accounts in the same app. Synchrony also has mobile check deposit and offers tips to help you learn about personal finance and managing your money.
Synchrony doesn't have a checking account.
Synchrony Bank Review
What Makes a Great Mobile Banking App? User Interface and Experience of Mobile BankingTop-rated mobile banking apps are easy to navigate. You should be able to view your current account balance on your bank accounts and cards either right when logging in or through a widget feature. A strong mobile app will also let you manage your accounts and reach out to customer support with just a few taps. The app's interface should be organized, with tabs or a table of contents that clearly outlines where everything in the app is.
Security Features of Mobile BankingMost mobile banking apps have multi-factor authentication. You can set up this feature by checking your app's settings. Mobile banking apps also have encryption so you can securely send money between bank accounts and to external bank accounts from other financial institutions. If you lose a debit or credit card, many mobile apps allow you to lock your card so it cannot be used.
Budgeting and Savings Tools of Mobile BankingBudgeting and savings tools are another perk for many mobile banking apps.
Some banks, like Ally, have the features incorporated in the bank accounts. For example, some savings account have buckets so you can set individual savings goals.
Other banks offer tools to help see the bigger picture of your budgeting and spending. You might be able to create a monthly budget or get analysis of your monthly spending and cash flow.
Customer Support on a Mobile AppMany mobile banking apps will allow you to contact customer support straight through the app. You'll be able to send a secure message and a representative will reach out to you promptly. Some banks even have 24/7 customer service.
How to Choose the Right Mobile Banking App for YouWhen you're switching banks or opening a new bank account, a bank's mobile app can be an important factor that can help you distinguish whether a bank is the right fit for you.
When you're evaluating a mobile app, it's important to see what features are available and which aren't. For example, not every bank app has a mobile check deposit feature. It helps to figure out which features you prioritize most in your mobile banking experience. You can use that to narrow down some banking options.
Then, think about your overall banking experience — which bank accounts and services you want — to help you find the best bank for you.
Know that if you are unbanked you still have banking options that can meet your needs. For example, you can find bank account with you low minimum opening deposit requirements and minimal bank fees. If you've been denied from opening a bank account in the past due to your financial history, consider second chance bank accounts, which don't review your banking history.
Tips for Using Mobile Banking Apps Safely Enabling Security FeaturesTo increase your mobile banking apps safety, make sure you review all the app's security features so you are familiar with how they work. If possible, use multi-factor authentication so that you can verify your login identity when you're signing into your account.
Monitoring Account ActivityReviewing your bank account balance is also important so you can detect any instances of fraud. Bank account fraud can happen if someone gets your account or card information and uses it to make unauthorized purchases.
It's important to notify your bank immediately when fraud happens, so that the bank can conduct an investigation. Timeliness can also impact how much money you may be liable for when an unauthorized transaction takes place.
Best Mobile Banking Apps FAQsThe best features to look for in a mobile app include user-friendly app structure, strong security features for cards and accounts, money management and budgeting tools and a secure message method to contact to customer support.
Yes, it is safe to use a mobile app for banking as long as the financial institution you're using is trustworthy. Your money is still FDIC- or NCUA-insured no matter where you bank from, and reputable banks have security protocols that apply to mobile banking too.
Most banking apps are free when you have an account with the bank. But keep in mind that the accounts themselves could come with some fees. Some banks charge monthly service fees, unless you qualify to waive them. You could also pay fees for overdraft fees, ATM fees, or foreign transaction fees.
You can ensure your data is secure on a mobile app by using two-factor authentication and setting a strong password. To make sure your accounts and cards are secure, also regularly review your mobile app so you can quickly respond to any instances of fraud.
At the very least, you should be able to use your banking app to check your account balances, transfer money between your own bank accounts, deposit paper checks with the app's camera, and find customer service contact information. The top banking apps have even more robust features, such as showing all of your financial information in one place, 24/7 live chat, or automatic savings tools.
We chose Ally, Bank of America, and Capital One 360 as having the best mobile banking apps, among other financial institutions.
Why You Should Trust Us: Experts' Advice on the Best Mobile Banking AppsWe consulted banking and financial planning experts to inform these picks and provide their advice on finding the best mobile banking app for your needs.
Here's what they had to say about mobile banking apps. (Some text may be lightly edited for clarity.)
What should I look for in a mobile banking app?
Mykail James, MBA, certified financial education instructor, BoujieBudgets.Com:
"What kind of push notifications do they offer? Do they offer push notifications for when you swipe your card or if money is deposited into your account? Also, what's the customer support like? Do they have a 24/7 phone number available? Emails? Do they have a chat box?"
Sophia Acevedo, banking editor, Business Insider:
"I think it's important for a mobile banking app to have mobile check deposit and features that help you understand your spending. Maybe there's a feature that can help you save for specific goals or track your cash flow."
What makes a strong mobile banking app?
Sophia Acevedo:
"I think strong mobile app should be as straightforward as possible. You should be able to easily navigate the app and utilize the features without running into any technical difficulties."
Mykail James, MBA, CFEI:
"One thing that I love for banks to do is when they offer a virtual debit card or credit card. Sometimes I don't always have a physical card with me. "
Methodology: How We Chose the Best Mobile Banking AppsTo choose our favorite banking apps, we only looked at apps with at least 5,000 reviews in both the Apple and Google Play stores. Then we narrowed it down to apps with strong average ratings in both stores.
We selected apps for banks that are available in a large chunk of the United States. This could mean that a bank has branches in multiple states, or that it operates online.
Our top picks have competitive products that set them apart from other institutions. For example, a bank may pay high interest rates, have tools to help you save money, or offer early direct deposit. Where applicable, we also looked at customer satisfaction ratings on J.D. Power surveys.
Laura Grace Tarpley, CEPF
Personal Finance Reviews Editor
Evelyn He
Compliance and Operations Associate
Sophia Acevedo
Banking Editor
Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics. ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, budgeting, and general saving. Sophia was also a part of Business Insider's 2024 series "My Financial Life," which focused on telling stories that could help people live and spend better.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE Accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She's inspired by stories of everyday people adapting to their financial circumstances and overcoming their fears around money.ExpertiseSophia's expertise includes:Best Banks And Credit Unions For Mobile Banking Of 2024
Select independently determines what we cover and recommend. We earn a commission from affiliate partners on many offers and links. This commission may impact how and where certain products appear on this site (including, for example, the order in which they appear). Read more about Select on CNBC and on NBC News, and click here to read our full advertiser disclosure.Capital One Boasts Mobile Banking Through Web Video Initiative
Capital One has rolled out an online video series that spotlights how fast and easy the company's mobile banking options are.
The primary goal behind the video campaign is to educate consumers on how to use the Capital One mobile banking application. Four videos are involved in the series with a fifth one planned for later this year.
"These videos were specifically designed for a Web-savvy audience," said Pat McLean, vice president of brand strategy at Capital One, McLean, VA.
"Across the four videos, we hit a diverse audience with a primary goal of driving overall awareness of Capital One's mobile capabilities," he said.
"One of the main drivers of mobile adoption is simply awareness, which we expect this campaign to generate in a typically playful and entertaining Capital One way."
Bank on mobileCapital One is running rich media and pre-roll ads to target Web users.
The ads direct users to www.Whilebanking.Com, which serves as the primary hub for the campaign to educate consumers on the benefits of using mobile banking. The videos will also be featured on Capital One's social platforms.
Users can learn about specific features of the app, such as deals, and click-through on links to download it from Apple's App Store or Google Play from the site.
The four videos all target different demographics.
For example, one video uses the music band Dragonforce to strike a chord with younger consumers while another spot features a pair of ballerina dancers.
Via the site consumers can submit their idea for a fifth video, which the company plans to roll out later in the first quarter of this year.
The theme behind the campaign is 'Do what you do while mobile banking' and positions the Capital One banking app as a way to quickly manage their finances while on the go.
Calls-to-action at the end of the videos encourage users to download the app.
One of the Capital One mobile banking videos
Multichannel leverageAccording to Mr. McLean, Web and mobile platforms have been successful for driving awareness of Capital One's mobile banking services.
However, the bank also plans to incorporate mobile into its television advertising in 2013.
Multiple financial institutions have taken to TV advertising to help promote mobile services, which gives brands reach a wider reach.
Capital One has been active in mobile over the past year.
In June, the company rolled out deals to its mobile app to let rewards customers receive offers from brands including Whole Foods and Starbucks. (see story).
Then in September, Capital One added its Purchase Eraser feature to its app that lets users redeem rewards from travel-related purchases (see story).
"Mobile is an integrated part of Capital One's marketing communications strategy and is an increasingly important channel for acquiring and servicing customers," Mr. McLean said.
"We have seen explosive growth in mobile adoption for product acquisition and account management and we have aggressively embraced it as an advertising channel," he said. "Thus far we have millions of consumers who use the mobile app."
Final TakeLauren Johnson is associate reporter on Mobile Commerce Daily, New York
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