If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.
We use banking apps for everything, from quick balance checks before making a purchase to easy on-the-go transfers to pay bills. The top online banking apps are full-service mobile banking machines. Take a look at our list of the best mobile banking apps to see if your bank makes the cut.
Robin Hartill, CFP®, is Motley Fool Money’s Head of Product Ratings and has worked for The Motley Fool since 2020. Her work has appeared in various national publications, including Yahoo! Finance, NerdWallet, Investopedia, CNN Underscored, MSNBC, USA Today, and CNET Money. She previously wrote The Penny Hoarder’s syndicated “Dear Penny” personal finance advice column.
SoFi Checking and Savings
On SoFi's Secure Website.
On SoFi's Secure Website.
For those who plan to set up direct deposit with their new account, we think SoFi Checking and Savings (Member FDIC) is hard to beat. Not only does this savings account offer a strong APY, but the linked checking account earns an above-average rate, too -- which is a rare perk. Plus, there's the opportunity for a bonus of up to $300¹ and a long list of extra account features. Frankly, it's the kind of combo that could make it worthwhile to switch banking relationships.
You can earn the maximum APY either by making direct deposits into checking or savings, or by depositing $5,000 or more every 30 days. Learn more.
SoFi disclosure:
¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Direct Deposit can earn 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.20% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances(including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/31/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
² SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits.Interest rates are variable and subject to change at any time. These rates are current as of 10/31/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
³ Our account fee policy is subject to change at any time.
⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional
FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms
See list of participating banks at SoFi.com/banking/fdic/receivingbanks
⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
Why it's the best for automated savings: SoFi® (member FDIC) offers a variety of ways to make saving money easier, including lots of features for automating your savings. For example, the AutoSave feature lets you automatically save a set amount or percentage from each paycheck. Roundups are like a digital change jar, letting you round up debit card purchases and save the difference automatically. Plus, you can direct savings into specific savings Vaults to work toward specific savings goals.
Customer ratings:
Chase Total Checking®
On Chase's Secure Website.
Chase Total Checking® combines tons of features with superior customer service. It's a safe place to put your money. You can walk into any of thousands of branches and withdraw cash from more than 15,000 ATMs in Chase's network. You can access everything online, too. It's one of the best checking accounts for in-person and over-the-phone customer service.
*With Chase Overdraft Assist℠, we won't charge an Overdraft Fee if you're overdrawn by $50 or less at the end of the business day OR if you're overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
**Monthly service fee is $12, or $0 with one of the following, each monthly statement period:
Why it's the best user experience: A banking behemoth like Chase has plenty of money to make a functional app -- and it's every bit as good as you'd expect it to be. The Chase mobile banking app is smooth, attractive, easy to navigate, and includes pretty much all of the features you'd expect from a quality mobile app.
Users can track transactions, redeem Chase credit card rewards, and add the latest Chase deals to their favorite card. There's also Chase's in-app 24/7 support, which is a standout feature that users give high marks.
Customer ratings:
Discover® Cashback Debit
On Discover Bank's Secure Website.
On Discover Bank's Secure Website.
The Discover Cashback Debit account could be a lucrative option for those who frequently use their debit card. With cash back on eligible purchases, it's possible to earn even more than you could with a typical checking account APY without changing your habits at all. The fact that Discover has done away with many common checking account fees only adds to its appeal.
Why it's the best for customer service: Discover® Bank consistently ranks highly for customer service, often ranking first or second in surveys like J.D. Power for customer satisfaction.
The mobile app gives you access to that great customer service through a robust help center, as well as online chat. Plus, the app has all of the digital banking tools you could need to manage your Discover credit card and bank accounts, wrapped up with a clean, easy-to-navigate interface.
Customer ratings:
Capital One 360 Checking
Capital One boasts a top-rated mobile app and has over 70,000 fee-free Capital One, MoneyPass, and Allpoint ATM locations. For those looking for face-to-face interaction, Capital One has over 450 locations and 50 Capital One Cafes, where customers can bank, get a cup of coffee, and ask for advice from a certified money coach. However the APY is lower than other online banks.
Why it's the best for account monitoring: Capital One's mobile banking app includes multiple tools for staying on top of all of your Capital One accounts. You can view transactions, check balances, lock (and unlock) your card, and set up basic account alerts.
You also use Capital One's digital assistant, Eno, which can provide alerts for less common issues, such as duplicate transactions. Plus, you can manage your Capital One cards in all of your mobile and digital wallets right from the app.
Customer ratings:
Bank of America Advantage Plus Banking
Bank of America is the second-largest bank in terms of assets and has over 3,800 branches and 16,000 ATMs. Bank of America has a wide variety of financial products and tools, including being able to set custom alerts and savings goals. Bank of America also offers BankAmeriDeals where you can get cash back offers on shopping, dining, streaming and more. Its robust app includes Life Plan, an easy way to set and track short- and long-term financial goals and get personalized advice.
However, rates are low, and there is a $100 minimum required to open an account. The $12 monthly maintenance fee can be waived with qualifying activity. Bank of America offers an Online & Mobile Security Guarantee where you are never liable for unauthorized purchases or transactions -- as long as they’re reported promptly.
Why it's the best virtual assistant: Inside the Bank of America mobile app is Erica, a virtual banking assistant with a lot of features. Erica can help with your Bank of America credit card transactions, check checking and savings account balances, and even provide insights into your spending.
That's on top of all the typical services for a bank mobile app like money transfers, mobile bill pay, check deposits, and Zelle transactions.
Customer ratings:
Alliant High-Rate Checking
Alliant is an online-only credit union based out of Chicago; however, anyone can qualify for membership. There is no monthly maintenance fee, no overdraft fees, and no monthly minimum balance requirement. To qualify for the high-yield account, you only need to meet two monthly requirements. It's not a bank, so it's not a member of the FDIC, but Alliant accounts are federally insured through the National Credit Union Administration.
Why it's the best credit union app: Alliant Credit Union is a consistent front-runner as the best credit union on many lists, and it's not just because of its low-cost bank accounts.
The mobile app scores high marks with users who value its simplicity, ease of use, and rich feature set. It has a sharp interface that's easy to navigate, plus it offers all the tools you could want -- including mobile deposits and fingerprint logins.
Customer ratings:
There are some important features you'll find in all the best banking apps. At minimum, you'll need all-in-one account management to keep on top of your bank, loan, and credit card accounts in one place. There's also a set of standard tools to look for in all the best online banking apps:
Of course, some apps take it even further, with extras that help them stand out amongst the best banking apps. For example, a few of our best banking apps include budgeting, saving, and money management tools.
And any bank with "best mobile banking" status will offer additional security in the form of facial, fingerprint, or even voice recognition during login, as well as the option to freeze your debit and credit cards from the app. You may even get perks like cardless ATMs, where your mobile app can stand in for your debit card.
Banks have gone to great lengths to make their mobile banking apps secure because many mobile app users are concerned about account and data safety.
The best banking apps include a range of robust security features, including biometric login options like facial recognition and fingerprint scanning.
Plus, every bank on this list is FDIC insured, so up to $250,000 of your money is protected.
The best banking apps make it simple to track and manage your money -- but they also do so much more. You may need to use mobile banking if you want to do any of the following:
Sure, sometimes you just want to visit a bank teller face to face. But for everything else, mobile banking is the way to go. At the very least, give it a shot before you make your decision.
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how Motley Fool Money rates bank accounts.
Here are the 100+ financial institutions we've evaluated in our research:
Alliant, Ally, All America Bank, American First Credit Union, American Express® National Bank, Arvest Bank, Aspiration, Axos Bank, B2 Bank, Bank of America, Bank5 Connect, Bank7, Barclays, Bask Bank, Betterment, Bluevine, BMO Bank, Bread Financial, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIT, Citibank, Citizens, Citizens Savings Bank, Columbia Bank, Connexus Credit Union, Consumers Credit Union, Copper, Cross River Bank, Customers Bank, Discover® Bank, E*TRADEEdward Jones, EverBank, Fidelity, Fifth Third Bank, First Foundation Bank, First Internet Bank of Indiana, First National Bank, First Tech Federal Credit Union, Flushing Bank, Freedom Bank, Generations Bank, GN Bank, Golden 1 Credit Union, Greenlight, Harborstone Credit Union, HSBC, Huntington Bank, Ivella, Jenius Bank, Kabbage by American Express, KeyBank, Laurel Road, LendingClub, Liberty Bank, Liberty Federal Credit Union, Marcus by Goldman Sachs, Mercury, Municipal Credit Union, Mutual of Omaha, My Banking Direct, NASA Federal Credit Union, Nationwide Bank, Navy Federal Credit Union, NBKC Bank, New York Community Bank, NexBank, Northpointe Bank, Novo, OceanFirst Bank, Old National Bank, ONE Finance, OneUnited Bank, Oxygen, Pacific Western Bank, PNC Bank, Ponce Bank, Popular Direct, Presidential Bank, Prime Alliance Bank, Quontic, Radius, Raisin, Redneck Bank, Regions Bank, Relay, Republic Bank of Chicago, Revolut, Salem Five Bank, Sallie Mae, Santander Bank, SchoolsFirst Federal Credit Union, Simple, SoFi®, Synchrony Bank, Tab Bank, TD Bank, Third Federal, Truist Bank, U.S. Bank, UFB, Upgrade, USAA, Valley Bank, Vanguard, Varo Bank, Vio Bank, Wealthfront, Wells Fargo, Western Alliance Bank, and Zeta.
Yes, you can make a budget with some banking apps.
Several of the best mobile bank apps include budgeting tools. You can use these budgeting features to manage your money and stay on top of your financial goals.
However, not all banking apps have budgeting tools built into them. In this case, you may need to find a third-party budgeting app that will let you link your bank accounts directly.
No. All of the major banking apps are entirely free to use. Banks offer these apps at no cost so customers can manage their finances and handle banking needs whenever they want.
The best online banking apps can do just about anything you can do by visiting a bank branch -- but with less hassle. You can manage your accounts, make check deposits, track your transactions, and find local ATMs. The best banking apps also allow Zelle transfers and have enhanced security features like fingerprint and facial recognition.
Additionally, the best banking apps provide all-in-one account access from your phone. It should be simple to manage your credit cards in the same app as your checking account. This allows you to easily track your card purchases, pay your credit card bill, and redeem your purchase rewards.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.