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When it comes to managing money, many consumers turn to their phones. In fact, a January 2023 Chase Digital Banking Attitudes Study found that two out of three consumers can't live without their mobile banking apps.
At the heart of it all, mobile banking offers unparalleled convenience and 24/7 access. Users can take advantage of features like paying bills, making transactions, getting overdraft alerts, checking their account balances, tracking expenses, getting paid early, depositing checks, finding nearby ATMs, automating their savings, monitoring their credit, chatting with a virtual assistant, requesting card replacements and sending money to friends and family — all with the tap of a button (or a few). Many mobile banking apps are also now compatible with smartwatches.
CNBC Selectset out to find what big banks and credit unions are best for mobile banking. Our top picks offer the standard banking app features like bill payments and expense tracking, along with standout perks like the ability to check your credit score and access to virtual assistants. (Seeour methodologyfor more information on how we made this list.)
Best mobile banking apps
- Best for variety of features: Capital One®
- Best for a virtual assistant: Bank of America
- Best for credit monitoring: Chase
- Best for user experience: Wells Fargo
- Best for traveling abroad: Discover®
- Best for credit union: Alliant Credit Union
- Best fintech alternative: Cash App
Compare offers to find the best checking account
Best for variety of features
Capital One 360 Checking®
Capital One Bank is a Member FDIC.
Monthly maintenance fee
$0
Minimum deposit to open
$0
Minimum balance
None
Annual Percentage Yield (APY)
0.10%
Free ATM network
70,000+ Capital One®, MoneyPass andAllpoint® ATMs
ATM fee reimbursem*nt
None
Overdraft fee
$0
Mobile check deposit
Yes
Terms apply.
Pros
- Top-rated mobile app
- No minimum deposit to open an account
- 0.10% APY on all account balances
- No foreign transaction fees
- No overdraft fees
- Free savings transfer for overdrafts after opt-in
Cons
- No reimbursem*nt for out-of-network ATM fees
Who's this for? The Capital One® app has a wide range of useful features that make it a top choice.
Standout benefits: Users can see their balances without logging in, add cash to their account at eligible drugstores, lock/unlock their debit cards if needed, access their credit scores through CreditWise and send and receive cash through Zelle®.
The app also provides Capital One credit cardholders access to Eno®, Capital One's virtual financial assistant. With Eno, users can get notified of any unusual transactions and potential fraud. And if you want to get paid up to two days sooner, Capital One allows that with its early paycheck when you set up direct deposit through the app.
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Best for a virtual assistant
Bank of America Advantage Plus Banking®
Monthly maintenancefee
$12, with options to waive
Minimum deposit to open
$100
Minimum balance
$1,500 daily balance to avoid monthly maintenance fee
Annual Percentage Yield (APY)
None
Free ATM network
16,000 Bank of America ATMs
ATM fee reimbursem*nt
None
Overdraft fee
$10 per item (max 2 per day)
Mobile check deposit
Yes
Terms apply. Bank of America is a Member FDIC.
Pros
- Earn cash back on select deals at stores, restaurants and more throughBankAmeriDeals®
- Make saving easier with the Bank of America'sKeep the Change®program
- Four ways to waive the monthly maintenance fee
- Bank of America has a vast network of ATMs
- Send and receive money with Zelle
Cons
- $10 per item overdraft fee
- $12 monthly maintenance fee
- $100 minimum deposit to open an account
- No reimbursem*nt for out-of-network ATM fees
How to avoid the monthly fee (when you meet ONE of the requirements during each statement cycle):
- Have at least one qualifying direct deposit of $250 or more to your account
- Maintain a minimum daily balance of $1,500 or more in your account
- Enroll in the Preferred Rewards program (Learn more at bankofamerica.com/preferred-rewards)
Who's this for? The Bank of America app is popular for its user access to Erica®, BoA's virtual financial assistant. Erica can provide users with automated help for things like looking up transactions, paying bills and getting account alerts and insights.
Standout benefits: Users can view their balances without signing in, check their security levels, look up their FICO® Scores, send and receive cash using Zelle and schedule an in-person appointment with a BoA representative.
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Best for credit monitoring
Who's this for? With the Chase Total Checking® app, users can monitor their credit score with Chase Credit Journey® and get free credit monitoring.
Standout benefits: The app allows users to get summaries of their daily spending to budget better, lock/unlock accounts if misplaced cards, schedule meetings with a banker and send and receive money with Zelle.
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Best for user experience
Wells Fargo Everyday Checking
Wells Fargo Bank is a Member FDIC.
Monthly maintenancefee
$10, with options to waive
Minimum deposit to open
$25
Minimum balance
$500 daily deposit balance to avoid monthly maintenance fee
Annual Percentage Yield (APY)
N/A
Free ATM network
13,000 Wells Fargo ATMs
ATM fee reimbursem*nt
None
Overdraft fee
$35 (max of 3 overdraft fees per day)
Mobile check deposit
Yes
Terms apply.
Pros
- Four ways to waive the monthly maintenance fee
- Send and receive money with Zelle
- Easy-to-use mobile app
Cons
- $25 minimum deposit to open an account
- $35 overdraft fee
- No APY
- No reimbursem*nt for out-of-network ATM fees
How to avoid the monthly fee:
- Maintain $500 in combined minimum deposit balances,
- or make qualifying direct deposits totaling $500 or more,
- or be between 17 - 24 years old
- or have a linked Wells Fargo Campus ATM Card or Campus Debit Card (for college students)
Who's this for? The Wells Fargo app is ideal for those seeking a clean, user-friendly interface with intuitive features.
Standout benefits: The app allows customers to easily check their balances, track account activity, deposit checks, send and receive money using Zelle and pay bills. Wells Fargo also offers an AI-powered virtual assistant, Fargo™, which can answer account questions in English or Spanish.
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Best for traveling abroad
Discover® Cashback Debit Checking
Discover® Bank is a Member FDIC.
Monthly maintenance fee
$0
Minimum deposit to open
$0
Minimum balance
None
Rewards
1% cash back on up to $3,000 in debit card purchases each month. See website for details by clicking "Learn More".
Free ATM network
60,000+ Allpoint® and MoneyPass® ATMs
ATM fee reimbursem*nt
None
Overdraft fee
$0
Mobile check deposit
Yes
Terms apply.
Pros
- Top-rated mobile app
- No minimum deposit to open an account
- 1% cash back on up to $3,000 in debit card purchases each month
- Opt-in to free overdraft protection
- No overdraft fees
Cons
- No reimbursem*nt for out-of-network ATM fees
Who's this for? The Discover® app has a unique travel notification feature that lets the bank know when a user is traveling so their card use isn't interrupted.
Standout benefits: Other notable perks include the ability to enable a quick view of accounts without logging in, access to FICO Score, the ability to send and receive money with Zelle, plus the option to freeze/unfreeze accounts.
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Best for credit union
Alliant Credit Union High-Rate Checking
Monthly maintenance fee
$0
Minimum deposit to open
$25 when opening online or over the phone
Minimum balance
None
Annual Percentage Yield (APY)
0.25% with paperless and recurring monthly electronic deposit
Free ATM network
80,000+ Alliant network ATMs
ATM fee reimbursem*nt
Up to $20 per month
Overdraft fee
$0
Mobile check deposit
Yes
Terms apply.
Pros
- Top-rated mobile app
- ATM fee reimbursem*nt up to $20 per month
- 0.25% APY
- No overdraft fees
Cons
- Must opt-in to paperless statements and have a recurring monthly electronic deposit to earn APY
Who's this for? For those wanting to bank with a credit union, Alliant Credit Union is easy for anyone to join and its app is user-friendly. Become a member by enrolling as an Alliant Credit Union Foundation digital inclusion advocate, and for a limited time, Alliant Credit Union will pay the required one-time $5 donation on your behalf.
Standout benefits: In addition to the standard banking features, users can preview their account balances just by opening the app, without even logging in. Users can also easily turn this feature off if they prefer.
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Best fintech alternative
Cash App
On Cash App's secure site
Cost
Free to download and use basic services
Transfer speed
1 to 3 business days or instant cash-out deposits for a 1.5% fee (25 cent minimum)
Standout features
App allows users to invest money in individual stocks as well as buy and sell bitcoin
Links to accounts
Yes, bank accounts and credit cards
Availability
iOS or Androis
Security features
Data encryption and fraud detection technology; unique, one-time login codes, two-factor authentication
Terms apply.
Pros
- Free debit card for users who opt in
- Free ATM withdrawals if you direct deposit at least $300 per month (otherwise $2 per withdrawal)
- Cash App Offers provide discounts with certain retailers that are automatically applied to a purchase to help users save money (only one may be active at a time)
- App includes features to let users invest in stocks and buy and sell Bitcoin
Cons
- Charges a 3% processing fee when using linked credit card as a payment method
- Charges a 1.5% fee for instant cash-outs (to disperse funds immediately to your bank account with no waiting period)
- Cash App cash and savings balances are covered by FDIC insurance through a partner bank (up to $250,000) only if you have a Cash App Card (or are a sponsor of any active sponsored accounts)
Who's this for? As a mobile-first financial services platform, Cash App is great if you're looking for an app that gives you access to traditional banking services and tools for taxes and investing.
Standout benefits: The app is free to download, and users can open an account without a bank account or credit check. There are also no minimum balance requirements after the $1 opening deposit.
Cash App also offers traditional banking features, including a high-yield savings account with a 4.50% APY, requiring a monthly direct deposit of at least $300. It also comes with a VISA-branded debit card. Like a traditional checking account, you can use your account and routing numbers to pay bills online and withdraw money from ATMs with your Cash App Card.
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Compare offers to find the right savings account
More on our top mobile banking apps
Capital One
The Capital One app allows users to view their balances, see transactions, track spending, pay bills, set up alerts and purchase notifications, deposit checks, make transfers, automate their savings, activate a credit or debit card, redeem credit card rewards, as well as track their auto loan.
Availability
The Capital One app is available for free on both the App Store and on Google Play.
Security
The app enables Touch ID and Face ID, and users will be alerted of fraudulent activity.
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Bank of America
Bank of America's app allows its users to view their account balances and activity, track spending, transfer money, deposit checks, pay bills, set account alerts, activate and replace credit or debit cards, redeem credit card rewards, set up savings goals, as well as trade and manage any Merrill investment accounts all from their phone.
Availability
The Bank of America app is available for free on both the App Store and on Google Play.
Security
The app enables Touch ID and Face ID, and users will be alerted of fraudulent activity.
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Chase
With the Chase app, users can review all their account activity (checking, savings, credit card, home, auto, business), track their spending and transactions, pay bills, transfer money, deposit checks, find nearby branches and ATMs, automate their savings, redeem Chase rewards, as well as manage any J.P. Morgan investment accounts all from their phone.
Availability
The Chase app is available for free on both the App Store and on Google Play.
Security
The app enables Touch ID and Face ID, and users will be alerted of fraudulent activity.
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Wells Fargo
Wells Fargo packs a long list of useful features into an easy-to-use app, including the ability to view account balances and activity, track spending, transfer money, deposit checks, pay bills, set account alerts, activate and replace credit or debit cards, manage tax documents and more.
Availability
The Wells Fargo app is available for free on both the App Store and on Google Play.
Security
The app enables Touch ID and Face ID, and users will be alerted of fraudulent activity.
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Discover
The Discover app allows users to check their account balances (bank, credit card, loans), view account info, make payments, transfer money, pay bills, deposit checks, find ATMs, search transaction activity, receive account alerts, activate new cards or report lost cards, manage and redeem rewards, as well as send messages to customer service.
Availability
The Discover app is available for free on both the App Store and on Google Play.
Security
The app enables Touch ID and Face ID, and users will be alerted of fraudulent activity. Users can also set up a four-digit passcode to log in more easily.
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Alliant Credit Union
With the Alliant Credit Union app, account holders can deposit checks, view account balances, see their banking activity and transaction history, transfer money, pay bills, activate and report lost/stolen credit or debit cards, find nearby ATMs and send secured messages to Alliant's member care center.
Availability
The Alliant Credit Union app is available for free on both the App Store and on Google Play.
Security
The app enables Touch ID and Face ID, and users can choose Alliant's two-factor authentication for more protection.
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Cash App
Cash App allows users to add money to their balance via direct deposit or by depositing cash at participating retailers. You can also view account balances, transfer money, pay bills, withdraw money from ATMs with the Cash App Card, automate savings, set up real-time transaction alerts, invest in stocks, and trade Bitcoin.
Availability: The app is free to download from both the App Store and Google Play.
Security: The app enables Touch ID and Face ID, and users will be alerted of fraudulent activity.
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FAQs
What is mobile banking?
Mobile banking is essentially having access to your bank accounts via a phone. This allows account holders to manage their money from virtually anywhere and at any time. You no longer need to be near a branch location to complete most financial transactions or to get help.
Are banking apps safe?
Banking apps are designed to be safe and secure for users, which is why many of them offer biometric security checks (Touch ID and Face ID) and two-factor authentication. Banking scams have been on the rise over the last few years, however, so it's important to always use with caution.
Which bank is best for online banking?
The best banks for online banking include those that made this list: Alliant Credit Union, Bank of America, Capital One, Chase, Discover and Wells Fargo.
Bottom line
The best mobile banking apps offer user-friendly interfaces and a wide range of services. Be sure to use one of the mobile banking apps that made this list to maximize your money management skills while on the go.
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Why trust CNBC Select?
AtCNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every mobile banking appreview is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of bankingproducts. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. Seeour methodologyfor more information on how we choose the best banks and credit unions for mobile banking.
Our methodology
To determine the best mobile banking apps, CNBC Select looked at apps offered by the largest banks and credit unions. When selecting our top picks, however, we considered the banks with the most customers to make sure that our selections would be found helpful for a wide range of users.
All the mobile banking apps in our list had to offer basic app features such as transparency into users' accounts and spending, the ability to transfer funds, deposit checks and pay bills, etc. The apps had to be easily available and at zero cost. We favored the banks that offered apps with special perks like access to your credit score, virtual financial assistance and payment sending/receiving tools like Zelle®.
We also chose apps that have multiple security features, a sizable number of user reviews and high user ratings. Each app on this list has at least 1,000 reviews in both the App Store (for iOS) and on Google Play (for Android), as well as a rating of over 4 stars (out of 5) on both platforms.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
