4 Best Banks for People on Their Phones

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If you spend a lot of time on your phone, you’ll want a bank account with a mobile app that meets your standards. This also means you’ll want a trustworthy checking account, since you want to know your funds are secured and easy to access when needed.

What banks are good for people who spend a lot of time on their phones? 

Capital One

“Capital One’s mobile app stands out for its comprehensive features and user-friendly interface,” said Michael Schmied, lead financial consultant at Kredite Schweiz. “It offers a range of services, including viewing balances, paying bills, activating credit or debit cards, redeeming rewards and even sending and receiving money with Zelle.”

A Capital One 360 checking account comes with no overdraft fees, no monthly fees and no minimums.

As for security, Schmied added, “The app also provides security features such as two-step authentication, real-time fraud and purchase alerts, and a card lock feature.”

The ability to lock your credit from your mobile app is extremely beneficial for stressful situations, because you can prevent fraud with a few clicks instead of calling customer support and waiting.

• Apple Store rating: 4.8
• Google Play rating: 4.6

Ally Bank

“Ally Bank’s mobile app is another top contender because [it’s] known for its innovative digital tools,” said Schmied. “The app allows users to manage their money with ease, including viewing balances, paying bills, checking credit with CreditWise, activating credit or debit cards, redeeming rewards and sending and receiving money with Zelle.”

The Ally Bank checking account comes with an early payday, with the opportunity to have your direct deposit from your employer arrive two days earlier. You also don’t have to worry about monthly maintenance or overdraft fees.

Schmied elaborated, “Ally also offers unique features like savings buckets that let you divvy up your savings into different categories.”

This feature shows you how much you’re spending on different categories, such as rent, groceries and fun, to help you better manage your money. If you’re always on your phone, then you’ll have data to track your spending habits in your hands.

It’s worth noting that Google Play reviews after a recent update on Ally Bank’s mobile app have been less than stellar — many cite that the app is not working properly after the update. Ally might be a better option for those with iPhones, but once the bugs have been worked out, Android users might give it a chance.

• Apple Store rating: 4.7
• Google Play rating: 2.9

Discover® Bank

“Discover Bank’s mobile app provides a seamless banking experience with a focus on convenience,” Schmied said. “The app offers features like mobile check deposit [and] online bill pay.”

Discover Bank allows you to earn 1% cash back on debit purchases up to $3,000 monthly with your checking account — it’s rare to find a checking account that lets you earn cash back on your everyday purchases. The checking account also comes with no fees, and with the Early Pay feature, you can get paid up to two days earlier with direct deposit. See website for details.

What about the security? Schmied said, “Discover Bank provides security features like account and activity alerts and the ability to freeze your debit card temporarily. The app is compatible with a variety of wearable devices, allowing users to stay in touch with their balance and account activity.”

These features should be enticing if you’re on your phone most of the day.

• Apple Store rating: 4.9
• Google Play rating: 4.5

Chase

If you’re always on your phone, you’ll want a banking app that lets you handle all of your transactions from the convenience of your mobile device, and Chase offers several tiers of checking accounts — from student to premium — to meet anyone’s needs. You can have fees waived if you meet the eligibility requirements for all but the Secure Banking account. The mobile banking app is available for all account tiers.

Chase also offers an Autosave feature on its mobile app, which allows you to set aside money specifically for certain expenses, from a nice dinner to a vacation. The app allows you to set up automatic payments into your savings, so you don’t have to worry about making repeated transfers manually.

As far as the app’s security goes, Chase offers several features, like Card Lock and Credit Journey, to help you keep track of your finances.

• Apple Store rating: 4.8
• Google Play rating: 4.4

Banking App Considerations

As you look into the different accounts mentioned in this article, here are a few considerations to keep in mind before choosing a bank account:

• Customer reviews: Before you sign up for an account, you should read reviews in the app store to ensure that there are satisfied customers.
• Security features: The banking app should have security features that help protect your funds so you don’t have to worry about fraud.
• Ease of use: It should go without saying that you’ll want a banking app that prioritizes user experience so that you can seamlessly handle your financial needs from your phone.
• Fee structure: You want to review the fee structure to make sure the account doesn’t nickel-and-dime you with expenses to access your own money.

Closing Thoughts

If you’re on your phone most of the day, then these are bank accounts that you’ll want to look into using. Every bank account comes with its own set of perks that you’ll want to review to ensure that you find the right one for your situation.

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