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Mobile Banking: An Overview of Apps at 15 Banks and Credit Unions

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Listening to music? Reading? Hurling revenge-crazed suicidal birds at egg-napping pigs? Banking? There’s an app for that. Mobile banking is all the rage nowadays, but not all mobile banking apps are created equal. NerdWallet examines the mobile banking apps at 15 of the largest financial institutions. A few of the largest institutions, including HSBC and SECU, do not have an app, although they both offer mobile websites.

Many credit unions who participate in shared branching allow customers to use Sprig, an iPhone app that works is available to customers at hundreds of credit unions.  Customers can deposit checks, check balances, locate ATMs and transfer funds between participating credit union accounts.

Looking to use the mobile app on your device? Availability varies across financial institutions. Apps that are compatible with iPhones and Androids are also compatible with iPads and Android tablets (such as the Kindle Fire) as well. Those still rocking a Palm Pilot are out of luck—only Wells Fargo offers a Palm app.

Which banks and credit unions offer mobile apps for your device?

Institution iPhone/iPod Touch Android Windows Phone Blackberry Palm
Bank of America
Wells Fargo
Chase
Citibank
US Bank
PNC
TD Bank
SunTrust
BB&T
Ally Bank
Capital One 360
Navy Federal Credit Union
Pentagon Federal Credit Union
Alliant Credit Union
Suncoast Schools Credit Union
USAA

What do mobile apps generally allow you to do?

All of the apps listed are free for customers. While the functionalities differ, at a minimum, all of the apps at some of the largest financial institutions allow customers to:

  • Check balances
  • View the transaction history
  • Locate ATMs
  • Transfer money between the owner’s accounts at the same bank

Most of the apps also allow customers to pay bills.

Apps rarely offer:

  • Mobile check deposit—only 53% of the financial institutions currently offer mobile check deposits
  • Person-to-person payments—While 73% of the 15 apps offer bill pay, only 40% have an option to send money to an individual

How do the mobile apps compare?

Institution Pay bills Send money to someone (at the same bank or a different bank) Deposit checks
Bank of America ✓ (free)
Wells Fargo ✓ (only to customers at WF or BofA)
Chase ✓ (free)
Citibank ✓ (free)
US Bank ✓ (free)
PNC
TD Bank
SunTrust
BB&T
Ally Bank
Capital One 360 ✓ (free)
Navy Federal Credit Union
Pentagon Federal Credit Union
Alliant Credit Union ✓ (in a separate app)
Suncoast Schools Credit Union
USAA ✓ (free)
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