What Is the Best Online Banking App for Your Needs

If you're like me, you're probably tired of dealing with clunky online banking apps that make you want to pull your hair out. There are so many options out there, it's hard to know which one is the best for your needs.

Some online banking apps are better suited for mobile users, while others are more geared towards desktop users. For example, Bank of America's mobile app is highly rated for its user-friendly interface and robust mobile deposit feature, allowing users to deposit checks remotely.

If you're looking for an app that's easy to use, Chase Bank's online banking app is a great option. Its clean design and intuitive navigation make it simple to manage your accounts, pay bills, and transfer funds.

Many online banking apps also offer budgeting and financial tracking tools, such as Wells Fargo's My Money app, which allows users to track their spending and set financial goals.

The best online banking apps are a must-have for anyone looking to manage their finances on the go. With so many options available, it can be overwhelming to choose the right one.

Wells Fargo has the best mobile banking app, boasting an impressive 4.9 stars on the Apple App Store out of over 9.1 million ratings and 4.8 stars on Google Play out of over 2.47 million ratings.

Chase, Discover, and SoFi are top options if you're looking for the most features and a highly rated mobile app. These apps offer far more mobile features than the competition.

Chase's app is packed with perks, such as FICO credit score viewing, reward management, in-app credit applications, investment management tools, and the ability to schedule meetings with bankers and advisors.

Discover is a top pick for travelers, thanks to its lack of foreign transaction fees, traveling alert feature to avoid travel interruptions, credit score tracker, multiple login options, and much more.

SoFi's mobile app has tons of management tools because it doesn't have any physical branches. The SoFi account is a hybrid checking and savings account, and you can invest, apply for credit, and perform peer-to-peer transfers.

Here are some of the standout features of the best online banking apps:

These apps are a great starting point for anyone looking to find the best online banking app.

To ensure your online banking app is secure, start by enabling a six-digit PIN or face identification on your phone. Use strong, unique passwords for your WiFi router, phone, and online accounts.

It's also crucial to enable two-factor or multifactor authentication on the banking app or website, which will send a one-time code for verification. Consider using a password manager to help generate and store complex passwords.

Keep your phone and operating system up to date by turning on Automatic Updates, and make sure to lock your device after a minute to prevent unauthorized access.

57 percent of people are at least somewhat concerned when told that banks may share their financial data without letting them know.

More than three-quarters of people think it's very important for a bank to obtain permission before sharing their banking data with any other company.

Most banking apps share data with partners for joint marketing purposes, including sending targeted ads, which can go beyond what's necessary to provide basic financial services.

The two exceptions are Albert, which shares only nonidentifiable information, and Varo, which doesn't share data with other financial companies for joint marketing.

Only five apps from Albert, Ally, Chime, Varo, and Wells Fargo have a way for users to turn off targeted advertising within the app.

Only Ally sets up its app so that a user is automatically opted out from receiving targeted advertising.

These apps should put consumers in the driver's seat when it comes to determining if they want their personal information to be shared or not.

Continuous fraud monitoring and alerts can give you peace of mind, especially in today's digital age.

One in three U.S. banking customers were victims of fraud in the past 12 months, according to a 2023 J.D. Power survey.

Banks like Albert, Ally, Chase, Chime, Current, and Wells Fargo explicitly commit to continuously monitoring accounts for fraud, which means they'll flag suspicious activity and alert you before authorizing a charge.

This can happen when a charge is made from a location far from your current whereabouts, such as a gas station or convenience store in a different state.

Two banks, Bank of America and Capital One, commit to real-time alerts but not to real-time monitoring, which may not provide the same level of security.

U.S. Bank and Varo don't even commit to real-time alerts, leaving their customers more vulnerable to potential fraud.

To mobile bank securely, start by enabling a six-digit PIN or face identification on your phone. This is a crucial step to prevent unauthorized access to your account.

Use strong, unique passwords for your WiFi router, mobile phone, and all online accounts. Consider using a password manager like 1Password Families or Dashlane Premium to help with this task.

Enable two-factor or multifactor authentication on the banking app or website to receive a one-time code for secure log-in. This adds an extra layer of security to prevent unauthorized access.

Set the app or website to notify you with a text for every withdrawal or deposit made from or to your account. This can help you catch or stop suspicious transactions quickly.

Keep all apps updated, including the banking app, by turning on Automatic Updates on your phone. This ensures you have the latest security patches.

Set your phone or device to lock after a minute to prevent unauthorized access if you misplace it. This is a simple yet effective way to secure your device.

About 32.2 million adult Americans have significant vision loss or are blind, according to an analysis from the American Foundation for the Blind, and banking apps lack built-in features for the visually impaired.

Only two banking apps, Chime and Ally, let you change the app's settings so that it can be used in dark mode, which helps reduce eye fatigue.

The apps are also compatible with screen reader tools on both Apple and Android phones, which use a speech synthesizer to read aloud text on the app screen.

If you're looking for a banking app with accessibility features, you might have an easier time using the banks' websites, which have built-in accessibility features.

Here are the top banking apps with accessibility features:

If you're looking for a fee-free checking and savings experience, you're in luck. Capital One and Ally offer no monthly maintenance fees for their checking and savings accounts.

Chime, Current, and Varo also don't charge monthly fees, which is a huge plus. Albert does require a subscription of $14.99 a month, but it comes with some useful features like identity protection and financial advice.

Traditional banks like Bank of America, Chase, U.S. Bank, and Wells Fargo charge around $5 a month for a basic account, but you might be able to get the fee waived with certain conditions. You'll need to maintain a minimum balance or have direct deposits to qualify.

Digital banking providers like Chime and Current offer interest rates up to 2 percent and 4 percent, respectively, on basic savings accounts. Varo and Ally pay 4.35 percent, which is a significant difference from traditional banks that pay just 0.01 percent.

Many banking apps now offer features to help with budgeting and saving, making it easier to manage your finances on the go.

Some apps, like Albert, Ally, and Bank of America, offer automated savings, the ability to split direct deposits, goal-setting tools, and spending trackers. These features are nearly universal among banking apps, with U.S. Bank being a notable exception for its budgeting tool, which is only available under specific circumstances.

If you're looking for a comprehensive budgeting and saving experience, consider apps like Albert, Ally, and Bank of America, which offer a wide range of tools to help you manage your finances.

Here are some banking apps that offer budgeting and saving features:

These features can be a game-changer for managing your finances and achieving your financial goals.

About 32.2 million adult Americans have significant vision loss or are blind, making accessibility a crucial feature in banking apps.

Only two banking apps, Chime and Ally, let you change the app's settings to dark mode, which can help reduce eye fatigue.

All banking apps are compatible with screen reader tools on both Apple and Android phones, which use a speech synthesizer to read aloud text on the app screen.

People with visual impairment might find it easier to use the banks' websites, which often have built-in accessibility features.

About 42 million people in the U.S. speak Spanish as their first language, and some banking apps, like Bank of America, Capital One, Chase, U.S. Bank, and Wells Fargo, offer their apps in Spanish.

Mobile banking apps have come a long way, offering a wide range of features that make managing your finances on-the-go a breeze. Most bank apps allow you to move funds between accounts, turn cards on and off, order replacement cards, and view bank statements.

Some top-of-the-line mobile banking features include AI assistants, budgeting tools, cashback reward management, and credit score or report viewing. You can also expect to find in-app customer support, instant mobile check deposit fund availability, investment options, and peer-to-peer transfer services.

If you're looking for a mobile banking app with a high rating, consider apps like Alliant Mobile Banking, Cash App, or Chase Mobile App, which have an average rating of 4.7, 4.8, and 4.8 stars respectively.

Wells Fargo's mobile app stands out for its impressive 4.9 stars on the Apple App Store and 4.8 stars on Google Play. However, it's worth noting that some banks have a more comprehensive set of features, such as Chase, Discover, and SoFi, which offer a wide range of features like FICO credit score viewing, reward management, and investment management tools.

Here are some key features to look for in a mobile banking app:

Some banks also offer unique features, such as disposable virtual cards, credit card transaction disputes, and recurring bills and subscriptions management. For example, Citi, Capital One, and Chime offer disposable virtual cards, while Chase, Citi, and Regions Bank allow credit card transaction disputes directly from the mobile app.

Mobile banking apps often offer an extra layer of security if you enable it.

You can set your bank app login to use Apple's Face ID or a fingerprint scan, making it harder for someone to access your account if they get a hold of your phone.

Both banking portals and mobile apps usually have security measures to keep your information safe.

Banking apps can be more convenient, allowing you to easily check your account balance, transfer funds, and pay bills on the go.

Mobile banking apps can also offer a more personalized experience, with features tailored to your specific banking needs.

You can set up notifications to alert you to suspicious activity or low account balances, giving you peace of mind and helping you stay on top of your finances.