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Best Bank Mobile Apps 2020
Best Bank Mobile Apps 2020

Best Bank Mobile Apps 2020

Bank Mobile App

Best Bank Mobile Apps 2020

Mobile banking can give you access to financial services anytime you want them. With banking apps — or a bank website — on your phone or tablet, you can complete many common tasks, including checking your account balance, finding nearby ATMs and depositing a check by snapping a photo.

1. MoneyLion

Country: USA
Current Value: $ 1 billion

This US-based mobile banking app provides its users with financial advice and access to loans. The six year-old startup is a personal finance app which operates as a part lending, part savings, and part wealth management app. According to the latest news, this fintech startup is close to becoming “unicorn” for the finance industry. It has raised $100million Series C round led by Edison Partners & Green Spring Associates. With this, the startup is currently valued at $1billion.

How MoneyLion makes money?

  • The startup makes money from app subscriptions that cost $19.99 per month to each user.

How MoneyLion is different from other Fintech apps?

  • It provides efficient online banking service across 55000 fee-free ATMs.
  • MoneyLion app also has a 5.99% APR loan to keep savings progress on track. This facility is specifically for MoneyLion Plus members.

Best Bank Mobile App

Image Credit: MoneyLion

Top Features of the MoneyLion app

  • Instant transfer and zero-fee checking
  • Direct deposit to avail APR cash advances
  • 12% cashback rewards
  • Track the credit score
  • Real-time notifications for spendings

2. Chime

Country- USA

The Chime app is growing fast in the U.S.A as a mobile-only bank. It allows users to manage their spending and saving account with no hidden transaction fees. The multiple automatic saving options and large free ATM networking makes it the most convenient mobile app for banking.

How Chime is different from other Fintech apps?

  • The money saving app prioritizes savings by automatically deducting 10% of the paycheck and directly deposit that amount in the savings account.
  • A user can access his paycheck 2 days earlier with direct deposit through Chime.
  • It provides efficient online banking service over 30,000 fee-free Moneypass ATMs.
  • The mobile app for banking facilitates with no minimum balance, no overdraft, real-time transaction notification, sending money to family & friends.
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Best Bank Mobile App - chime

Image Credit:Chime

Top Features of Chime app

  • Deposit directly to Chime account and get paid early
  • No hidden fees or monthly fees
  • Send money to family & friends with a free-fee mobile payment
  • Deposit instant checks
  • Support mobile payment apps

3. Nubank

Country- Brazil
Current Value- over $10million

The online banking application, Nubank, is a Brazil-based fintech app. It becomes one of the best fintech apps by providing access to invoices and tracking spending by category to deleting purchases with Nubank Reward points earned. It gives real-time information about Credit cards, saving balance, and Nubank rewards. According to the recent news, the company has raised $400million Series F round of venture capital led by Woody Marshall of TCV.

  • Nubank is considered as the sixth-largest financial institution by reaching 12million users within its home market.
  • The Wall Street Journal reported that the company has secured valuation over $10billion, potentially making it one of a shortlist of startup decacorns.

Best Bank Mobile App - nubank

Image Credit: Nubank

Top Features of Nubank app

  • Savings at user disposal
  • No-annuity credit card accepted worldwide
  • Rewarding point program
  • Informative blogs

4. Mint   – Best Bank Mobile Apps 2020

Country- USA

Mint app is the most successful fintech app based in the U.S.A. when it comes to collecting relevant information about a user’s card, accounts, and transactions. The notification alerts remind users about the bills to pay, offers advice based on spending patterns. This helps an individual to be on top of his finances. All data is encrypted with 256-bit encryption and the data exchanged with Mint is encrypted with 128-bit SSL.

Best Bank Mobile App - mint

Image Credit: Mint

Top Features of Mint app

  • Manage bills and balances
  • Create a budget and see the suggestions based on individual spending
  • Free credit score analysis with tips
  • Secured sign-up

5. Revolut  – Best Bank Mobile Apps 2020

Country- UK

The London-based startup offers banking services including a prepaid debit card, currency exchange, cryptocurrency exchange, and peer-to-peer payments. The app allows a user to spend and send money in an easy way with real-exchange rates. The company is assumed to surge $10bn ($8bn) in the coming years as finance startups hit grow extraordinary growth trajectories to challenge the US giants. It is planning to raise $500m this year from investors and has accumulated 6 million users in just four years.

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How Revolut is different from other Fintech apps?

  • The budgeting app supports spending and ATM withdrawals in 120 currencies and sending in 29 currencies directly from the app.
  • The customers are allowed to access to cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and XRP by exchanging to or from 25 fiat currencies.

Best Bank Mobile App - revolut

Image Credit: Revolut

Top Features of Revolut app

  • Instant spending notification after every card payment
  • Create a monthly budget for restaurants, groceries, transport
  • Overseas travel insurance
  • Split the bill with friends and family calculations will be taken care in the app

6. N26 – Best Bank Mobile Apps 2020

Country – Berlin
Current Value- $2.7billion

This Berlin-based finance management app facilitates with fast, flexible, and transparent money management tools to control finances. It allows two free nationwide ATM withdrawals per month. Recently, N26 has raised $300 million in a Series D round led by Insight Venture Partners with Singapore’s sovereign wealth fund GIC and a few existing investors. The company is now valued at $2.7billion, it overtook Revolut as the most valuable mobile bank in Europe.

  • N26 has been featured in TechCrunch, WIRED, and Forbes and boasts over 65,000 five-star reviews worldwide.

Best Bank Mobile App - n26

Image Credit: N26

Top Features of N26 app

  • Instant money transfer with MoenyBeam
  • Automatic generation of spending statistics
  • Account security with face or fingertip recognition
  • Organize and achieve financial goals with Spaces

After studying the best fintech apps of the financial app world, let’s look at some common finance features that you should consider for your online banking app development.


7. Monzo – Best Bank Mobile Apps 2020


Helpful for: 

  • tracking your spending,
  • setting a budget,
  • splitting bills with friends

You may have seen friends flashing the mobile banking startup’s distinctive neon orange card. Once a pre-paid debit card, the zingy Monzo card is now attached to a real current account because, as of April 2017, Monzo is a fully-fledged, mobile-only bank. If you already have a current account you might struggle to see the point of opening another. But trust us: your bank’s mobile app is nothing like the Monzo app.

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Monzo alerts you to outgoings with mobile notifications and then logs your spending, organising it into several categories: from bills to holidays, cash withdrawals to transport to eating out. It then shows you a graphic breakdown of all your spending so you can see just where your money is going. Transport eating up your pie chart? Time to ditch the Ubers and embrace the bus. Groceries costing more than you expect? Better watch what’s landing in your shopping trolley.

You can also set budgets for each category and Monzo will alert you when you’re nearing them. About to Deliveroo another takeaway? Here’s Monzo with the warning ping, reminding you you’ve already exceeded your eating out budget for the month.

Monzo also makes sending money to friends and contacts as easy as sending a text message, no sort codes and account numbers required. It makes going Dutch in restaurants and divvying up utility bills among housemates simple. You can also nudge friends who owe you money by gently ‘billing’ them through the app.



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Best Bank Mobile Apps 2020

Mia Turner

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