Top Banking Apps for the US Market
Designed to be convenient for the users, Online banking offers a time-saving banking experience and real-time problem resolution services. The proliferation of the internet and digital devices has contributed to its growth significantly. The unprecedented times of COVID-19 also witnessed the rise in demand for online banking services and it continues to rise. In fact, the global online banking market which was valued at $11.43 billion in 2019 is projected to reach $31.81 billion by 2027, growing at a CAGR of 13.6 percent from 2020 to 2027.
Let’s see what are the top digital banking apps in the US market, which are contributing to this growth and helping users to conduct transactions on the move.
This online-only bank covers transferring money, bill payments, mobile cheque deposits, investment options, and 24/7 customer service. It also offers higher rates and lower fees than other traditional banks. Users also have access to over 43,000 ATMs in the U.S. Ally bank is also one of the top-rated banks offering interest checking accounts and a savings account with an APY that competes well with other financial institutions.
Capital One Mobile
Rated 4.7 out of 5 stars in Apple App Store and Google Play Store, Capital One ranks high in customer satisfaction and offers high-yield savings account with a competitive APY. For its outstanding customer service, J.D Power bestowed it with “The Highest in Customer Service Among Mobile Apps.” The app includes all the important features including keeping track of purchases creating alerts/notifications, bill payments, money transfer. The app also integrates well with Apple Watch and lets users conduct many of its features from their wrist.
Founded by military members for military members, USAA provides financial planning, insurance, investments, and banking products to the members of the U.S. military and their families. There are over 6.4 million members of which 30% are active-duty soldiers. The app covers all the basic features including account history, bill payments, fund transfer, request insurance documentation, place and check stock prices, etc. It also features a digital assistant named ‘EVA’.
Bank of America
With more than 4,300 branches and 16,000 ATMs across the U.S., the Bank of America is a trusted name in finance and offers great technology and savings tools to its customers. The app covers all the basic necessities such as monitoring account, making payments, cashback deals, rewards, virtual assistant, and exceptional customer support. The mobile app offers saving account opening and lower CDs interest rates.
Wells Fargo also comes with a vast network of ATMs and locations, covering all types of banking needs. It lets users easily keep track of Wells Fargo Finances and manage money right from the app. With over 70 million customers, the mobile app boasts a high positive rating. Its features include making mobile deposits, paying bills, transferring funds, sending money by email address or mobile number, and money management tools, account activity and balance information, GPS to get one-touch access, location information, and directions to ATMs Touch ID for iOS, etc.