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Pay Off Debt or Save? How to Make the Right ChoiceMobile Banking: Apps, Features, Tips and More
Since the advent of smartphones, mobile banking has only increased in popularity. Regardless of how familiar you are with the technology, this guide will expand your knowledge of banking using your smartphone or tablet. You’ll learn about the best mobile banking apps and find all the tools you need to bank on the go.
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Our picks for the best mobile banking apps available
| Best Mobile Banking Apps | |||||
|---|---|---|---|---|---|
| Bank | Cost | Best for | Available for iOS | Available for Android | Download |
 Capital One |
Free | Banking features | Yes | Yes | Apple app store Google app store |
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 Bank of America |
Free | Virtual assistant | Yes | Yes | Apple app store Google app store |
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 Discover® |
Free | Added security features | Yes | Yes | Apple app store Google app store |
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 American Express® |
Free | Customer service | Yes | Yes | Apple app store Google app store |
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 PNC Bank |
Free | Quick deposits | Yes | Yes | Apple app store Google app store |
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Summary of the best mobile banking apps
If you think that mobile banking could be right for you, here are some of the best apps on the market right now.
Capital One – Best for banking features
| Cost | Free |
| Available for iOS | Yes |
| Available for Android | Yes |
Why we picked it
The Capital One app is our pick for the best banking features. The app not only has standard features, including check deposits and Zelle payments, but also capabilities that go above and beyond.
It includes CreditWise, a tool that lets you check your credit score and simulate the credit effect of financial decisions, among other features.
The iOS widget also lets you track your account balances in real time.
| Download on iOS | Download on Android |
Pros and cons
PROS
- Includes access to Eno, an in-app virtual assistant
- Offers the ability to lock your Capital One cards from the app
- Uses facial or fingerprint recognition for sign in
CONS
- Generates a high number of user complaints about pop-up ads
- CreditWise comes as separate app
- Lacks direct customer service option
Bank of America – Best virtual assistant
| Cost | Free |
| Available for iOS | Yes |
| Available for Android | Yes |
Why we picked it
Many banking apps have virtual assistants, but Bank of America’s version goes a step further with personalized insights to help you stay on top of your finances. Erica, the app’s virtual assistant, uses artificial intelligence technology to provide you answers to common banking questions and alert you to changes in your account.
| Download on iOS | Download on Android |
Pros and cons
PROS
- Provides Mobile Safety Guarantee, which says you’re not responsible for fraudulent transactions if they’re reported promptly
- Includes budgeting and financial education tools
- Allows you to check your FICO score
CONS
- Presents navigation challenges, according to some users
- Lacks compatibility for all features and devices
- Does not allow Automated Clearing House (ACH) transfers for some Android users
Discover® – Best for added security features
| Cost | Free |
| Available for iOS | Yes |
| Available for Android | Yes |
Why we picked it
Discover®’s mobile banking app offers a host of login options for added security, making it our top pick for that category. Users have the option to log in using a four-digit code or biometric options, such as fingerprint and face ID. Another plus: Freeze your debit card in the app to prevent it from being used if it’s lost or stolen.
| Download on iOS | Download on Android |
Pros and cons
PROS
- Permits you to chat with customer service directly in the app
- Allows you to to set travel notifications for seamless use abroad
- Helps you review and manage your spending with Discover Spend Analyzer tool
CONS
- Does not function with some older phone models after a recent app update
- Lags when using Touch ID to log in to the app, according to some users
- Limits view of transaction history, some users say
American Express® – Best for customer service
| Cost | Free |
| Available for iOS | Yes |
| Available for Android | Yes |
Why we picked it
The American Express® app stands out for its 24/7 customer support, which not all mobile banking apps on this list can advertise. You can get assistance from a support agent through the app’s live chat feature.
| Download on iOS | Download on Android |
Pros and cons
PROS
- Provides a Send & Split feature that lets you split purchases with friends and apply any payments you receive directly to your card as a statement credit
- Offers in-app recommendations on the best ways to leverage points you earn with your American Express® card
- Ranks highest in credit card mobile app satisfaction (tied with Bank of America) in J.D. Power’s 2024 U.S. Banking Mobile App Satisfaction Study
CONS
- Sometimes fails to work correctly with two-factor identification, requiring the user to log back into the app each time it’s used
- Makes finding important account details difficult, according to some users
- Directs you back to the website to complete certain functions, some users say
PNC Bank – Best for quick deposits
| Cost | Free |
| Available for iOS | Yes |
| Available for Android | Yes |
Why we picked it
PNC Bank is our top pick for quick deposits because of its unique Express Funds feature. This feature gives you the option to make the full amount of a deposited check immediately available for withdrawal.
While the mobile app itself is free, this service is only available for a fee. Expect to pay $2 per transaction if the check amount is between $25 and $100 or 2% of the check amount if it is greater than $100.
| Download on iOS | Download on Android |
Pros and cons
PROS
- Allows you to locate the nearest PNC Bank ATM on the go
- Keeps your account secure with Touch ID or Face ID sign-in
- PNC Bank VirtualWallet provides customers access to insights that can help them achieve their financial goals
CONS
- Marks necessary services as unavailable, according to some users
- Signs out customers who opt for biometric login between uses, reports say
- Freezes frequently or is down for service updates, according to reports
What is mobile banking?
Mobile banking involves using a mobile device — usually a smartphone or tablet — for typical banking activities, such as transferring money, paying bills or making deposits. Only insured depository institutions, such as banks or credit unions, offer mobile banking services.
Notably, mobile banking is not the same as “mobile payments,” which entails sending an electronic payment to another person or a business. Many different types of providers can offer mobile payments.
Common mobile banking features
Expect some variation in every mobile banking app, but some features are widespread, such as:
- Account balances: You’ll have the ability to check your account balances regularly, allowing you to catch any errors well before receiving your monthly bank statement.
- Automatic notifications: You can sign up to receive automatic alerts for certain account activity, including low balances, overdrafts, large payments and direct deposits.
- Bill pay: You’ll typically be able to pay bills from your bank’s mobile app, which can streamline your financial life.
- Deposit checks: You can usually deposit checks from your smartphone using your bank’s mobile app, saving you a trip to the bank.
- Pending deposits: You can see pending deposits before they occur, giving you a better handle on your account activity.
- Person-to-person (P2P) payments: You can typically make P2P payments, letting you send money to your friends without having to worry about carrying cash.
- Statements and documents: You’ll have online access to any statements and documents, letting you see important information as soon as it’s released.
- Transfer money: You’ll be able to transfer money between your separate bank accounts or even between different financial institutions.
Pros and cons of mobile banking
PROS
- Provides access to all of your banking services in one place
- Allows you to take care of most banking tasks anytime and anywhere
- Eliminates the need to visit or call the bank to handle certain tasks, such as transferring funds or depositing checks
CONS
- Presents security risks, such as the possibility of a data breach exposing your sensitive information
- Leaves you unable to access vital account details or disrupts transactions because of technical issues
- Requires technical knowledge that may leave some users facing a learning curve to complete transactions
How to get started with mobile banking
When you’re ready, you can get started with mobile banking in just a few steps:
- Gather your account numbers. Find them on your bank account statements or the bottom of your checks. You’ll likely need them to enroll in mobile banking services.
- Download your financial institution’s mobile banking app. If you are using an iOS device, download the app from the Apple app store; if you have an Android phone, get the app from the Google app store.
- Enroll in online banking services. You’ll likely need to input your account numbers and some identifying information, such as your Social Security number. You’ll also need to create a username and password, as well as set up some strong security questions.
- Log in to your online account. Using your financial institution’s mobile app, log in to your account with your new username and password.
Methodology
To compile our list of the best mobile banking apps, we analyzed nearly 20 different apps to bring you the top five options from banks and credit unions nationwide.
Apps that made the list needed to have:
- A wide range of features, such as the ability to check balances, transfer funds and deposit checks
- Security tools, including enhanced login features, security alerts and the ability to freeze your cards from the app
- Compatibility with iOS and Android phones
- Strong customer service ratings on both the Apple and Google app stores
- No upfront cost to users