Over 70 percent of the US Millennials rely on Banking Apps for daily transactions.
Gone are the days when people stood in long queues to sort their finances at the bank. As the world goes mobile, the British Bankers' Association reports that there’s been a 57 percent jump in the banking transactions last year. While the adoption rate among US demographics shows that almost 70% of millennials have shown dependency on mobile banking apps in 2018.
Whether its to check bank balance, transfer funds, make bill payments or check deposits, mobile banking apps let you perform many of the banking functions directly from your device.
Plus, a neatly designed app with a user-friendly interface offers just as many benefits to the banks as they do for its customers, including better customer satisfaction, more organized workflow and promotional opportunities.
Considering the popular demand and surging usage, we have come up with a list of top online banking apps that are thoroughly reviewed by our experts.
The popularity of banking apps has driven banks to decipher how digital transactions can offer better customer experience. After testing and reviewing dozens of banking apps, here’s our list of best online banking apps that offer top of the line features.
Bank of America is one of the top mobile banking apps in the world that secures and facilitates financial transactions for US-based accounts. The banking app lets you send and receive funds safely using a mobile number or email address. You can also pay e-bills, schedule payments, edit pay to accounts along with many more functions.
The key highlight of this banking app is that it offers Mobile Banking Security Guarantee, under which, the customers can get a full refund in case of fraudulent transactions done from their account. In case of any assistance, you can reach out to a representative for help.
Notable features of the Bank of America Mobile Banking app:
If you have trouble managing your credit card transactions, Credit One Bank Mobile is one of the best banking apps for you. The app rewards the Visa and Platinum Visa holder for rebuilding credit and the amount is automatically redeemed as a statement credit each month.
Besides letting you view account information, check balance, make payments, the banking app also offers a Touch ID feature for fast and secure sign in.
Notable features of the Credit One Bank Mobile app:
Chase mobile app is a digital banking guru that helps you handle tasks such as bill payment, check deposit, money transfer and many other banking chores. One of the top mobile banking apps, Chase Mobile keeps track of all your debts by letting you schedule payments for your Chase credit card.
In addition to this, the banking app has a separate ‘offers and deals section’, where users can track and redeem rewards under the Chase Ultimate Rewards program.
Notable features of the Chase Mobile app:
Wells Fargo Mobile app for banking offers loads of features that help you manage accounts, check deposits, transfer funds, and pay bills. Not limiting itself to these banking tidbits, the app fetches the real-time quotes, charts, market data, and news for customers interested in funds investment.
Much like other top banking apps, Wells Fargo reimburses a customer’s funds when a fraudulent transaction is done through their account.
Notable features of the Wells Fargo Mobile Banking app:
PNC banking app offers round the clock banking services to its clients, helping users manage account information efficiently and remotely from their mobile device. Thanks to its built-in location services including the option to search by zip code and street address, you can locate the nearest PNC Bank branch no matter where they are.
The banking app can also be used to make in-store purchases with PNC credit, debit, and SmartAccess cards.
Notable features of the PNC Mobile app:
Citi Mobile app is a must-have for people swarmed with credit card-related tasks. The e-banking app allows the user to make credit card payments directly from the card and monitor the Fair Isaac Corporation, or FICO score.
On installation of the app, the user is required to sign-in with his user ID and password (IPIN) to start using the app. To avoid log-in every time, the user can even make use of its Snapshot feature, which makes account balance and recent transaction visible without logging in.
Notable Features Citi Mobile app:
Discover mobile app is known to be the best option for anyone juggling too many credit cards. A key highlight of this mobile internet banking app is that every time you make successful payments of credit and debit cards, the app rewards the user with redeem points, which can be used to purchase goods.
The bank has a special travel Notification feature to help ensure uninterrupted use. With this option, the user can notify the bank when traveling and then the bank charges accordingly.
Notable features of the Discover Mobile app:
As claimed Barclays Bank in the Q2 2018 report, its mobile banking app was named as the top-ranked UK banking app in the European Mobile Apps. If you are staying in the UK, you might prefer to opt for this bank’s services because it has more branches than any other bank in that region.
The app not only performs all the tasks such as account opening and transaction printouts but also deals with operations like PIN numbers, which branches never do. You can also speak directly to an advisor as part of the app’s customer services and locate nearest ATMs and bank branch too. Sadly, the app doesn’t work on rooted devices and thus, many of the Android users can’t use the Barclays Mobile Banking app.
Notable features of the Barclays Mobile Banking app:
When Lloyds Bank, one of the “big four” banks in the UK, offers a mobile banking app, you know the mobile services will be just as trust-worthy. Lloyds Bank mobile banking app offers a fast, convenient, and secure way to handle the account with a built-in security technology that keeps your banking details safe and private.
The app lets you perform a number of functions including account password reset, update credentials, apply for loans and much more. One can also connect to the bank representative over the mobile app itself.
Notable features of the Lloyds Bank Mobile Banking app:
The last on our list, the HSBC’s online banking app is a financial gem for Android and iOS users. Titled as the seventh-largest bank in the world in 2018, the banking app helps you manage the funds on the move securely and without hassles.
The user can directly log-in to the account, view the account balances, and transact money, all financial transactions secured with 128-bit SSL encryption offered by the app when the user is logged in.
Notable features of the HSBC Mobile Banking:
In the light of surging banking frauds and the rising threat of data breach, people have become wary of phone banking. As reported by the ombudsman, from 2018 to 2019, more than 12,000 financial frauds were detected.
But considering how crucial mobile banking apps have become to present world of digital natives, most banking apps are constantly scanning for security breaches and hiring encryption experts to tackle such issues.
Besides integrating the latest technology including fingerprint sensors and face detection technology, banking apps play a key role in digitalizing money. Hence, it becomes highly important for users to opt for banks and banking apps with a global presence, the best of which are mentioned in the list above. For more such value-delivery apps in sectors of finance, join our global community by hitting that subscribe button.
Vikram is an experienced wunderkind, who embraced technology at a very early age, and today he is at the helm of it. Mobile apps are something that excites him the most, and now he is up to give this vertical the best shot. He routinely catches up with the new apps and comes up with the top apps that can excite you to the core.