Mobile Banking

5 Perks of Mobile Banking Apps


Have you jumped onto the mobile banking bandwagon, yet? What are you waiting for? There are lots of perks that come with mobile banking that you just can’t get with traditional, in-person banking. These are just five of the perks that you can access.

1. Mobile Check Deposit

You don’t have to visit your nearest bank branch to deposit a paper check. Many mobile banking apps offer a mobile check deposit feature, where you can snap a photo of the check using your smartphone’s camera. Then, those funds will be processed and deposited into your checking account. It’s that easy. 

2. Credit Score Monitoring

Some banking apps offer credit score monitoring for users. This means that you can check on your credit score for free.

You can use credit monitoring to find out exactly what your credit score is. If it’s on the lower end, there are several things that you can do to raise it, like paying bills on time, paying down your credit card balance and correcting errors on your credit report. Track your score’s progress through this app feature. 

3. Find ATMs

You might’ve noticed that whenever you withdraw cash from an ATM that isn’t in your bank’s network, you always end up paying a little extra. That’s because your bank will charge you an out-of-network ATM fee. The ATM’s network will also charge you a fee to process the withdrawal. All in all, choosing the wrong ATM can cost you an extra $5. 

Avoid this frustrating bank fee by always using in-network ATMs to make withdrawals. Your mobile banking app should be able to help you find the in-network ATMs in your area. 

4. Mobile Alerts

Through your mobile baking app, you might be able to set up alerts to warn you when your accounts need your immediate attention. 

One alert that you can set up is a low balance alert for your checking account. It could trigger when your balance drops below $100. You’ll receive an alert via text or email that your balance is below that number, which will let you know to be careful with any transactions you make after this. This can stop you from emptying your checking account, going into overdraft and collecting overdraft fees

These are some other mobile alerts you can set up:

  • High balance alerts
  • Large purchase alerts
  • Large ATM withdrawal alerts
  • Direct deposit alerts
  • Profile change alerts

5. Saving Tools

If you’re bad at saving money, your mobile banking app could help you fix that. For instance, some banking apps offer round-up features, which round up your transactions to the dollar amount and move the remainder to a linked savings account. The app could help you build up your savings without exerting too much effort. 

Start with an emergency fund, and then move onto other less important goals, like a vacation fund or home improvement fund. An emergency fund is a crucial safety net that everyone should have. Without one, you might not be able to afford an urgent, unexpected expense that falls into your lap. You might have to turn to different solutions, like a credit card or a personal line of credit. If you don’t have a personal line of credit, you can find personal lines of credit online and see whether you’re eligible to apply for one. If you’re eligible to apply, you can submit an application and find out whether you’re approved soon after.

With a personal line of credit, you can use borrowed funds to cover an urgent, unexpected expense as quickly as possible. And when you’ve finished paying off the expense, you can focus on a repayment plan through a simple billing cycle. After that, focus on collecting emergency savings so that you don’t have to go through that stressful experience all over again. 

Stop missing out on all of these mobile banking perks! Download the app for your bank and see everything it has to offer.

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