Learn all about the best mobile banking apps.
Best Mobile Banking Apps
Best Mobile Banking App: FAQs
What is the best digital-only mobile banking app?
One of the best digital-only mobile banking apps is Starling Bank. It allows you to open multiple bank accounts, such as personal, business, euro, and joint accounts. You can earn interest on your current account balance, and there are no cash withdrawal fees, including cash withdrawals made outside of the UK. Starling Bank has various money management features such as real-time banking notifications, spending insights, and Saving Spaces.
Do high street banks have a mobile banking app?
Yes, there are major banking apps you use. Most banks offer online banking and a mobile banking app to access with your smart device. Most, if not all, high street banks have an app you can control your bank account from.
What are the disadvantages of digital-only banking apps?
There are a few disadvantages to digital-only banking apps, the main one being that some banking-only apps may charge you for withdrawing cash.
Other disadvantages may include the following:
- There are no branches you can visit. However, a 24/7 support team is available if you ever need assistance.
- Digital banking requires a smartphone, so you’ll need to own and use a smartphone.
- Most digital-only banking has no credit options like overdrafts or loans.
- There are no branches for digital-only banks, so depositing money into your current account can be difficult.
What are the benefits of digital-only banking apps?
There are many benefits of using a digital-only banking app, and some of them are:
- You can do all bank account management 24/7 from a mobile banking app.
- Transactions on a mobile banking app are typically processed faster than traditional banking methods.
- When you use a banking app, you can see all your transactions as they happen.
- Most digital-only banking apps have budgeting features to help you keep to your budget.
- When you open an app-based bank account, sometimes you can earn interest on your balance and interest on money in your savings account.
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