Bank Apps for a Mobile Device
Smartphones. IPhones. Blackberries. These mini-laptops fit in the palm of your hand. As technology evolves, so does the smartphone, enabling you to do more from your cell phone. Demand for mobile banking apps is high from younger generations. The mobile bank apps work on smartphones, iPhones (and iPod Touch), Android phones, and the Blackberry. The application market on the iPhone, Blackberry, or Android cell phone is one of the things that drives their popularity.
Apps for banking are a natural technological progression. Online banking has been used for years. But, more consumers have internet access than smartphones. At some point customer loyalty will cease in favor of which bank or credit union offers the coolest and best mobile banking apps. Mobile banking has not been around too long, but it is also called M-Banking, mbanking, and SMS Banking.
The following are some of the most popular bank apps for cell phones and mobile devices:
U.S. Bank "Mobile Wallet" App
In 2009, U.S. Bank released their comprehensive mobile banking application, Mobile Wallet. The U.S. Bank mobile bank app is for their customers who use U.S. Bank Internet Banking, so once a customer enrolls in that then they can sign up for the mobile banking app. The U.S. Bank Mobile Wallet app lets bank customers check their balances, send money to others, transfer money, pay bills, see their transactions, and receive special offers from the bank.
U.S. Bank Mobile Bank app users can also get account alerts. It is free to use the mobile bank apps at U.S. Bank, but you must have an account first and sign up for Internet Banking. They also have a list of compatible mobile phones; on their website U.S. Bank says Mobile Wallet is available with these companies "Verizon (Alltel), AT&T, Sprint, T-Mobile, U.S. Cellular, Metro PCS and Cellular South." You can download Mobile Wallet on the U.S. Bank site. It may be preloaded on some cell phones.
J.P. Morgan Chase's Mobile Banking App
Chase Mobile offers free mobile banking services. Chase mobile offers text banking and a few other mobile banking options. With text mobile you can use your cell phone to check balances, transfer money, wire money, find ATMs and banks, and more. Chase's newest bank app is QuickDeposit, an iPhone banking app that lets customers take a picture of the front and back of a check then send it with the Chase Mobile app. It's a free iPhone banking app for eligible Chase checking customers. This is also called mobile remote deposit.
Bank of America Mobile Banking
Bank of America aka the more hip "BofA" has been offering mobile banking since 2007. Bank of America offers free mobile banking apps for iPhone, Blackberry, Android devices, and Treo. Using the BofA banking app you can check balances, pay bills, transfer money and locate ATM/banks. You can also send text messages to get information about your balances and recent account activity.
Citibank Banking Apps "Citi Mobile"
There are a couple of mobile banking options with Citibank based on your mobile device. There is Citi Mobile apps for iPhones, iPod touch, and Android phones, Citi Mobile for Smartphones, and then there is the text banking. You can manage your bank accounts and credit card accounts with these mobile banking apps. The Citi Mobile for Smartphones is called the "mobile version of CitibankÂ® Online" and is a bit more sophisticated than the Citi Mobile apps.
As with most other mobile banking apps the Citibank mobile apps allow customers to check their balances of linked accounts (checking, savings, credit card, home equity loans, personal credit lines, personal loans, and mortgages). They can also pay bills, view account activity, transfer money between accounts, and transfer money. The Citi Mobile text banking enables the customer to use text message commands to check balances and do other banking necessities. It is not as complex as the other mobile bank apps. Citibank's decision to offer three levels of mobile banking is smart and reaches out to multiple users.
Wells Fargo Mobile
Wells Fargo Mobile offers three free mobile banking choices in a similar fashion to Citibank. There is a Wells Fargo mobile banking website that is optimized for mobile access. This Wells Fargo mobile banking site is available to eligible Wells Fargo accounts and they can transfer between accounts and to other customers, pay bills, find ATMs, and do more, just with their mobile phone. You can use an iPhone, Blackberry, Android, and a Palm for mobile banking apps.
TD Bank Free Mobile App
TD Bank aka America's Most Convenient Bank has a free mobile banking app for its customers. The TD Bank app can be downloaded onto an Android phone or an iPhone from the iTunes App Store or the Android Market. This mobile banking app features check deposit, loan and credit card balances, bill payments, funds transfer, account history, and ability to find ATMs. If you are an online banking customer then you can download the TD bank app otherwise you need to sign up for online banking first. For TD Canadian customers, the TD Canada Trust mobile banking apps are free as well. The TD mobile app is downloaded through the same process on a Blackberry, iPhone, or Android device.
Australian Mobile Bank Apps
Of course, it is not just the U.S. using mobile banking apps on their cell phones. St.George Bank Limited in Australia offers the St. George Banking App. Using this bank app you can transfer money between your St.George account, pay bills using BPAY, transfer money to any bank account within Australia, find an ATM, and do a whole lot more.
Mobile Bank Apps Tips and Warnings
Many of the mobile banking apps are very similar. If you want to use bank apps to do your banking then you can count on general account functions like checking balances, finding ATMs and bank locations, transferring money, and most app functions listed above. The main difference between mobile bank apps is their look and interface. Some mobile banking apps are sleeker than others. Some banks made iPhone mobile banking apps before Blackberry banks apps and now there are Android banking apps at most banks. If your bank is not listed here then give them and call and ask about mobile banking apps.
Since bank customers are moving toward their iPhone and Android devices to do their banking, they are also exposing themselves to a new brand of identity theft. But, just like with paper bank statements and online banking, there are ways to stay protected when using mobile bank apps. Take precautions and make sure that you are downloading banking apps from your bank or the address that your bank gives you. If you are unsure whether you are checking out the right bank apps for your financial institution then call them and ask. That ensures you are going to install only the right mobile banking app.
Remember, iPhones and other smartphone devices are subject to phishing attempts. Some may do this by presenting themselves as a banking application developer. Others can be just as clever. If you are banking online and using mobile banking apps on your cell phone then you need to triple your banking precautions. If your cell phone is stolen or lost make sure to call your mobile carrier and then call your bank. The bank will need to un-enroll you from the mobile banking app to protect your private information. Use your best judgment when you are using mobile banking apps for your cell phone.