To what extent do you consider the following factors when deciding on a mobile banking app? Perhaps you need the highest level of protection available to use the app with complete confidence that your accounts will remain safe at all times. In addition, the ability to examine your account balance in real time and deposit checks with a single click are both wonderful benefits. However, the most important factors appear to be user-friendliness and excellent support services.
Look no farther than these recommendations if you’re in need of a top-notch banking app that works with both Android and iOS smartphones.
What Is a Banking App?
The term “banking app” refers to a specific type of mobile application that allows users to manage their financial accounts and make transactions from their mobile phones, tablets, and other mobile devices. In addition to checking your account balance and history, many banking apps let you make deposits of checks up to a specific amount, move money between accounts, pay bills, send money to friends and family, and even find free ATMs.
List of Contents
ALLY BANK
- Option to send money from app: Yes
- Mobile deposits: Yes, checks only
- Biometric authentication: Yes
Ally Bank is able to compete well with brick-and-mortar banks by offering superior interest rates and reduced fees thanks to its solely online presence. You’ll be able to withdraw cash from any of the more than 43,000 ATMs around the United States without incurring any fees. One of the best things about Ally is that they provide interest checking accounts, which is something just a few banks do. It also offers a high-yield savings account with an annual percentage yield (APY) that is competitive with those offered by other banks.
The Ally app is a convenient way to manage your finances, allowing you to make bill payments, locate nearby ATMs, deposit checks, and access your account history. To bypass entering a password, you can use your fingerprint to access the app instead. The app’s interface is modern and intuitive, and it lets you connect other Ally accounts, such as a CD or IRA, for consolidated monitoring. There is also the added bonus of being able to keep up with the latest stock market news without ever leaving the app. In addition, Ally makes use of Zelle, which enables you to move funds between your Ally accounts or to and from accounts at other financial institutions.
Consumer feedback, meanwhile, suggests that Android users have a lower level of satisfaction than iPhone owners. There is no method to deposit cash into your Ally account, which is not a problem with the app per se but does limit its usefulness.
Why We Selected It
The Bank of America mobile app provides many useful features, including real-time fraud warnings to help keep account holders safe.
Pros
Provides a central location for managing various user accounts
Integratability with Zelle for monetary transactions
Cons
- Inability to make deposits in cash
BANK OF AMERICA
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- Option to send money from app: Yes
- Mobile deposits: Yes, checks only
- Biometric authentication: Yes
Bank of America is a well-known financial institution due to its size and widespread network of ATMs, which numbers around 16,000. It offers standard banking services, and you won’t find any ridiculously high interest rates on savings accounts. However, it provides excellent technology and money-saving options for its clientele.
Bank of America will immediately alert you of any questionable activity on your account and give you the option to either confirm or deny the transaction in question. Then, you have up to 60 days to complete the action. The Merrill Lynch mobile app makes it simple to link your brokerage account and access account details on the go. For a fun way to earn rewards while on the go, like during your morning or evening commute, check out the AmeriDeals area, where you’ll find offers from local businesses that will give you a percentage of what you spend back.
The app serves a purpose, but it doesn’t look particularly impressive. Keep an eye on your account balance because failing to meet the monthly minimum could result in a $14 maintenance fee and a $35 overdraft fee as often as four times per day.
Why We Selected It
The Bank of America mobile app provides many useful features, including real-time fraud warnings to help keep account holders safe.
CAPITAL ONE
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- Option to send money from app: Yes
- Mobile deposits: Yes, checks only
- Biometric authentication: Yes
When you carry a Capital One credit card, you gain access to a banking app that is a little offbeat but widely praised. Reviews from satisfied customers reveal that both Android and iPhone users are pleased with the product. Capital One is a reliable financial institution providing a high-yield savings account that delivers a competitive annual percentage yield (APY).
The app makes it easy to keep track of and make changes to any of your Capital One accounts, whether they’re for a credit card or a loan. If you can’t find your credit card for a short while, you can lock it immediately from the app, and if you have any reward points left over, you can pay yourself back with a statement credit. Instead than going through the effort of canceling your card and then having it turn up a few days later, you may simply reverse the action if you locate it.
Having so many options can be overwhelming if all you want to do is checking your balance.
Why We Selected It
Among the numerous convenient options available through the Capital One mobile app is the capability to monitor all of your accounts in one convenient location and to lock your credit card in the event that it is lost or stolen.
HUNTINGTON BANK
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- Option to send money from app: Yes
- Mobile deposits: Yes, checks only
- Biometric authentication: Yes
If you’re looking for a top-rated banking app in 2021, look no farther than Huntington Bank, which you may not have heard of. Comprehensive satisfaction, usability, visual appeal, key information accessibility, service breadth, and information clarity surveys powered by expert analysis. The Midwest branch of this bank is known for its reliable and friendly service to customers.
Notifications of account activity, such as purchases or withdrawals, can be sent to you via push in addition to the regular capabilities. To check your account balance, you also don’t have to sign in. And if you happen to overdraw your account by accident, the 24-Hour Grace function provides you an extra day to make a deposit before the overdraft fee is applied.
When it comes to the software itself, it’s hard to find fault. Although Huntington has ATMs and branches in 11 states, this may be insufficient for some of their customers.
Why We Selected It
J.D. Power has given the Huntington Bank mobile app top marks for customer satisfaction, and the app’s real-time push notifications make it simple to keep tabs on your financial dealings.
WELLS FARGO
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- Option to send money from app: Yes
- Mobile deposits: Yes, checks only
- Biometric authentication: Yes
Like many other major banks, Wells Fargo has a national footprint in terms of branch and ATM availability. Low fees on checking accounts are easily waived with a $500 minimum daily balance, monthly direct deposits of $500 or more, a connected Wells Fargo Campus Card, or if you are between the ages of 17 and 24. With over 4,900 locations and 12,000 ATMs, money held at Wells Fargo is always within reach.
The Wells Fargo app makes it simple to pay your bills, and you can even use Touch ID or Face ID to log in without entering your credentials every time. Those who are uncomfortable with technology and would prefer utilize traditional methods (or who simply don’t want to launch the real app) can do so with text banking commands. Type BAL to view your current balance, ACT to view your recent transactions, and DUE to view details about your monthly payment obligations.
The savings account rates at Wells Fargo are among the lowest available. As great as its app is, it probably isn’t the best choice for your savings needs.
Why We Selected It
Wells Fargo has a fully functional mobile app that customers of all technological abilities can enjoy.
We looked at reviews and ratings left by actual customers of banking apps in both the Apple App Store and the Google Play Store. The banks and credit unions we highlighted are all well-known, well-established, and well-liked in their respective communities. To supplement our own research, we used information from the 2021 J.D. Power U.S. Banking Mobile App Satisfaction Survey.