These days, almost every business or organization has a mobile app. And banks are no exception.
Mobile banking apps allow you to manage your finances and perform basic tasks from the comfort of your home (or anywhere you have Wi-Fi). However, not all mobile banking apps are the same when it comes to functionality, security, and ease of use.
If you’re wondering which bank has the best mobile app, we can point you in the right direction. Our team evaluated 25 mobile apps from leading banks and looked at key metrics such as mobile storefront availability, security features, and customer ratings to identify the 10 best apps available today. (See full methodology here).
Capital One earned the most points in every metric examined, earning it the top spot on the list. Capital One’s mobile app is available for download on the App Store and Google Play and has 4.9 and 4.5 star ratings, respectively.
Some notable features of the Capital One app include the ability to deposit checks, pay bills, and send and receive money through Zelle. Users also have access to CreditWise, a credit monitoring tool that provides TransUnion VantageScore 3.0 credit scores and reports. It also provides alerts about important changes to your TransUnion and Experian credit reports.
Read the full Capital One review
Chase Bank’s mobile app has an average rating of 4.8 stars on the App Store and 4.4 stars on Google Play. It allows users to review transactions, set up fraud monitoring, deposit checks, and send and receive money through Zelle. The app also offers Chase Pay Over Time, which allows customers to pay off eligible credit card purchases in monthly installments for a fixed fee.
If you need help budgeting and saving for your future goals, Chase’s in-app spending and budgeting tools are available. Chase also offers a free credit score tool that gives you access to your score and tips for improving your score.
Quontic Bank’s mobile app is available on the App Store and Google Play and has 4.8 and 4.7 stars, respectively. Customers can use the app to check account balances, deposit checks, pay bills, view payment activity, set account notifications, monitor credit scores, and more.
Those who value special account security will appreciate Quontic’s biometric authentication, which uses fingerprints or facial recognition to quickly and securely log into your account.
Read the full Quontic Bank review
Varo Bank’s mobile app allows users to check their balances, send peer-to-peer payments, check their credit score, and even contact customer support specialists via live chat.
Varo Bank also offers real-time transaction alerts, so you can stay on top of your account activity. The app is available for download from the App Store and Google Play and has a rating of 4.9 and 4.7 stars, respectively.
Read the full Varo Bank review
Wells Fargo’s mobile app is available on the Apple Store and Google Play and boasts ratings of 4.9 stars and 4.8 stars, respectively. The app allows Wells Fargo customers to monitor account balances and transactions, set alerts, send money through Zelle, transfer funds between accounts, deposit checks, and even open new accounts. Masu.
Additionally, customers can access Experian’s FICO score through the app and get personalized tips to improve their credit. Mobile app users can also chat with Wells Fargo’s virtual assistant to instantly get answers to their banking questions.
Discover Bank’s mobile app offers many useful features, including mobile check deposits, online bill payment services, Zelle payments, account alerts, and more.
There’s also a card lock feature within the app, making it easy to keep your money and personal information safe should it ever fall into the wrong hands. The app also lets you log in using your fingerprint, facial recognition, or a 4-digit code for an extra layer of security.
Read the full Discover Bank review
The Ally Bank mobile app has a 4.7 star rating on the App Store. However, its 2.3-star rating on Google Play puts it lower on the list (some customers say the app is difficult to use and encounters system errors).
Still, the Ally mobile app has a variety of useful features, including the ability to view your account balance, transfer funds, deposit checks, pay bills, send money with Zelle, and even find nearby ATMs. Customers who want to monitor their credit score can also access their FICO score for free using the app.
Read the full Ally Bank review
First Foundation Bank’s mobile app allows customers to sync all their accounts in one place, transfer money between accounts, monitor transactions, deposit checks, pay bills, send money through Zelle, and more. can.
First Foundation’s app is also a great option for anyone who wants personalized insights into their spending and savings. The company’s FinSights tool not only provides customers with a breakdown of where their money is going, but also provides a personalized “FinStrong” score to learn more about their financial health.
LendingClub’s mobile app is available for download on the App Store and Google Play and has a 4.8-star rating on both storefronts. On the app, customers can move money between accounts, monitor account balances, make loan payments, lock debit cards, deposit checks, and more. The app also allows users to check their credit score and sign up for alerts if there are changes to their score.
Read the full LendingClub review
SoFi’s mobile app rounds out the top 10. It has a rating of 4.8 stars and 3.8 stars on the App Store and Google Play, respectively. Customers can use the app to track account balances, set savings goals, organize cash into separate savings vaults, deposit checks, and choose to round up.
SoFi also offers a number of security features to keep your account safe, including two-factor authentication, an in-app card lock feature, and 24/7 account monitoring.
Read the full SoFi review
Mobile banking is convenient and efficient, but whether it’s right for you depends on your banking habits and overall comfort with technology. Here’s more information to help you decide if mobile banking is right for you.
If you’re new to mobile banking, you may be wondering why it’s better than in-person banking. In fact, you may worry that it is not as safe or beneficial as working with a live human being.
Sure, there are situations where you need to visit a bank branch and speak to someone in person. But with mobile banking, you can manage many aspects of your finances anytime, anywhere, directly from your smartphone or tablet. This means you no longer need to drive to a branch or ATM to perform basic banking tasks like checking balances, transferring funds, paying bills, depositing checks, and more. Additionally, mobile banking apps employ advanced security features such as two-factor authentication and biometric login to protect sensitive information. Learn more about the benefits of mobile banking.
Mobile banking apps are often just as secure as online banking platforms. Many banks offer the same level of security and encryption on both platforms. You can also use strategies to keep your apps safe and your information out of the wrong hands. This includes changing your mobile banking password regularly, enabling two-factor authentication, and logging out of the app at the end of each session. Learn more about mobile banking security.
Mobile check deposit is a convenient tool that allows you to deposit checks into your bank account using your bank’s app without having to go to a bank branch or ATM. The app typically guides you through the process and makes sure the check image is clear and complete. Once submitted, your bank will verify the check and the funds will be processed into your account. Learn more about mobile check deposit here.
Zelle is a digital payments network that facilitates money transfers between bank accounts (usually within minutes). It is available within most major banking apps and allows users to send and receive money using the recipient’s email address or phone number. However, Zelle transfers are generally irreversible, so it’s important to verify that the recipient’s information is correct before sending the payment. Learn more about Zell.
Many mobile banking and savings apps allow you to link your various financial accounts and track your activity and progress towards your goals all in one place. To secure these connections, many apps use Plaid. It is a financial technology tool that acts as a secure bridge between financial institutions and apps, providing encrypted, permission-based access to your data. Click here for more information about Plaid.
According to a PYMNTS Intelligence report, 60% of Millennials, 57% of Gen Z, and 52% of Gen X primarily use mobile banking apps. Additionally, the report found that 97% of customers rate their digital banking experience positively.
Banks typically do not charge customers for access to their mobile apps. Once you open a bank account online or in person, be sure to ask your bank representative how to download your bank’s mobile app. Or you might be able to easily find it on our mobile storefront.
Many financial institutions now allow you to open a new account with mobile banking directly from their app. However, this feature depends on your bank’s policy. For more information about mobile banking app features, call your bank or visit its website.
Collected and carefully reviewed by our personal finance experts, our rating system is comprised of approximately 250 data points from over 25 mobile banking applications to create our list of the top 10 mobile banking apps. Ta.
We evaluated these applications according to several key metrics.
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availability: Mobile apps that could be downloaded in both the Apple App Store and Google Play received the most points, while mobile apps that could be downloaded in only one received a penalty.
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Mobile app rating: Mobile apps with higher average user ratings on Apple and Google storefronts received more points than mobile apps with lower ratings.
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Remote check deposit: Many mobile apps offer remote check deposit functionality, allowing users to take a photo of a check and deposit it without having to go to a branch or ATM. Apps that provided this feature earned additional points.
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Credit score tools: Mobile apps that offered in-app credit scoring and monitoring tools received more favorable scores.
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Zelle features: Zelle is a peer-to-peer payment tool that allows you to send money directly to someone else’s bank account, often within minutes. Banks that participate in the Zelle network and offer Zelle within their mobile app earned additional points.
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In-app customer support: Mobile apps that offered in-app customer support via chat or virtual assistants scored more favorably.
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In-app transfer: Recognized apps that allow users to transfer funds between accounts and/or to external bank accounts.
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Two-factor authentication: Apps that offered an extra layer of security through facial or fingerprint recognition, security codes, or other forms of two-factor authentication scored more favorably than those that didn’t.
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Card lock or freeze function: In some cases, bank customers may want to freeze their debit or credit cards to control spending or prevent fraud. Apps with card lock functionality received higher scores in the rankings.
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Bill payment service: Many banks offer bill payment services within their mobile apps to make payments to service providers easier and more convenient. Apps that offer these bill payment services earned extra points.
