Top 10 Banks with the Most Robust Mobile Banking Apps

Mobile banking has become one of the most popular banking services in the past decade. With increased usage of mobile phones and especially the smart phones in performing daily activities, the banks have extended their services by providing user friendly and feature enhanced mobile applications that can be used in handling financial activities. Innovative banks today are banks that have their mobile applications that come with features of personal financial management such as budgeting tools, spending trackers, P2P payments, check deposit and many more.

After analyzing offerings from over 50 top retail banks in the U. S. , these 10 stand out for having the most robust and convenient mobile apps:After analyzing offerings from over 50 top retail banks in the U. S. , these 10 stand out for having the most robust and convenient mobile apps:

1. Chase

Chase has focused on the Chase Mobile application and loaded it with features. People can keep track of many accounts and credit cards, deposit checks, complete transfers or payments, redeem credit card rewards, and even use a phone’s location to get to an ATM. Even expenses can be easily tracked using the app and graphical and chart representation has been provided. Other relatively recent developments include the concept of no penalty CDs and the ability to set up automatic savings from account balances or paychecks. In conclusion, Chase offers an incredibly utilitarian, packed-Mobile Banking experience.  

2. Bank of America

Similar to Chase, Bank of America also has the feature of account aggregation in the application where customers can view balances in accounts in other financial institutions. Its functions include check depositing using a mobile phone, person-to-person payment, ATM/Branch locator, credit monitoring, budgeting tools, and credit score tracking. Customers also like features such as ability to lock/unlock debit cards from the app and withdrawing cash with the help of the phone’s location without using the ATM card.

3. Wells Fargo

A particularly interesting feature of Wells Fargo’s app is that along with all the features that are characteristic of other banking apps, Wells Fargo app allows its customers to schedule an appointment with a branch representative at any Wells Fargo branch. It also allows for the convenient payment of mortgage online, Zelle P2P payments, overview of spending and budgeting, and access to special card rewards. It is also possible for customers to invest in wealth and manage their investments within the same application as the one they use for banking operations.

4. Citi Mobile 

One of the great features that Citi Mobile offers is the ability to have an overall view of all the accounts and its details in one convenient and personalized screen. From this online platform, users can make bill payments, repay friends, deposit checks, set Citibank Alerts for security, redeem ThankYou Points for rewards, and more, besides, users can manage budgets inbuilt from the application. Geo-location enables them instantly locate the nearest ATMs or branches.

5. Capital One

It should also be noted that Capital One’s highly-rated mobile app replicates many of the functionalities online banking customers would regard essential to their banking. Customers are allowed to pay their bills, transfer of funds, deposit of checks as well as setting of alerts. It also facilitates Zelle for P2P payment services. It allows customers to freeze/thaw lost/debit/credit cards, check on credits and scores. Another distinction is that you can choose how your accounts appear in the app.

6. TD Bank

TD Bank has worked towards growing a mobile application referred to as TD Bank Mobile complete with unique features. Mobile check deposit, transfers/payments, rewards redemption, spending trends with pie charts are available for customers. Additional features worth pointing out are ATM/store locators and the option to lock/unlock debit cards in the app. In addition, it provides the capability of making person-to-person payments through PayPal. 

7. Huntington Bank

Huntington Bank has a relatively small operation but it is rather aggressive in further developing a digital initiative, for example, in the mobile banking sphere. Its apps include mobile check deposit, transfer, online bill payment, budgeting, ATM branch/fee and debit card management. Zelle for person to person payment is also made available within the Huntington application. Others are the spending analysers and credit score tracking. Other services which can be accessed by customers include applying for loans or credit through Huntington Mobile.

8. BBVA

BBVA Compass provides a powerful set of mobile banking opportunities for the clients within the BBVA Mobile Banking app. Features available for use include viewing balances, depositing checks, moving money to different accounts, paying bills directly and sending money to other people through Zelle. It offers an additional feature of consolidating balance and transaction summaries from accounts held at other institutions. Customers can manage their spending and freeze debit/credit card usage or restrict spending on a certain amount via the app.

9. Fifth Third Bank 

Fifth Third is also modernizing its mobile banking app features and paying great attention to the application’s usability. Customers are also able to pay bills, deposit checks, transfer money and do point to point payment. Some of the useful features of the budgeting are the financial tracking, the spending analyzer and also alerts. The app also lets the user login through touch/face ID for convenience and security. For instance, Fifth Third account holders can block their debit card immediately in case it is lost while on a trip.  

10. Discover

Rounding out the list, Discover has a mobile app experience that is equally on par with their highly-rated online service. They can cash checks, transfer funds, pay various bills, track monthly spending, report travel, earn rewards, and get free credit score monitoring. That is why Freeze It options are one of the fundamental differentiators: the customer is free to freeze/unfreeze their account or debit card within the app to avoid fraud or misuse.

Given how fundamentally apps have become part of the banking landscape, today’s cutting-edge banks are keenly attuned to the mobile channel. Chase, Citi and Capital One or other credit card providers invest a lot of money into creating new features and conveniences that consumers deem a must-have, available all the time. The evolution of banking technology means that the features and functions of mobile banking apps will become even more complex in the future.