We live in a digital world. And because of that, financial providers have had to change the way they do business. One way they've done so is by launching mobile apps.
Apps help consumers access their credit, checking, savings, and investments from anywhere. They make banking easier, safer and all-around better for consumers. Some can even build budgets and compare them to spending in real time.
Some cards and banks are more tech-forward than others. Here are eight great banking apps you can sign up for today:
Prism is a bill management app that lets you manage your finances on one platform. Users can review, track, and pay their bills anytime and anywhere. The best part? The app will send reminders when bills are due, so you'll never miss a payment again.
Unlike other fintech apps, Prism doesn't use a third-party payment processor. This means, when you pay a bill, the payment posts immediately. You don't have to wait days for the money to be taken out of your account.
Prism's goal is to be a one-stop-shop financial solution. Instead of forcing you to use multiple platforms to track your finances, Prism displays everything: your account balance, income, and monthly spending. In seconds, you'll know everything about your finances and be able to make smart money decisions.
Chime is one of the fastest-growing fintech apps in the United States. This platform was designed to function as an online banking alternative, meaning its app is best in class. Chime members get a free debit card, a spending account, and a savings account.
With Chime, you can analyze your spending and transfer money between accounts. You can set Chime up to automatically deduct 10% of your paycheck and deposit it in the linked savings account, ensuring you never forget to set money aside.
From everyday budgeting to investing in your future, Revolut helps you manage every aspect of your finances. This app will send you notifications after you pay something with your card and offers useful analytics to help you stay on top of your budget.
Revolut provides a feature called Savings Vaults, which lets you earn interest on your funds in the account. The money in your vault is kept separate from your main Revolut account, so you're not tempted to spend your savings. But don't worry: You can withdraw money anytime without worrying about withdrawal limits.
Cash App makes sending and receiving money easy. You simply connect the app to a bank account linked to your debit card, and in no time, you can start transferring money. Backed by Square, Cash App also offers investment options, including cryptocurrencies.
Unlike many popular payment apps, Cash App deposits payments instantly so you don't have to wait days to see the money in your account. There are also no fees with this fintech app. Similar to other banking apps, like Venmo, you can sign up for a debit card that connects to your Cash App balance and can be used anywhere Visa is accepted.
More than one in five working American adults don't set aside any of their annual income. Because of this, more and more people are financially unstable. Digit is a money management app that helps you save based on your specific spending habits.
When you sign up for Digit, the app's algorithm analyzes your income to find small amounts of money (anywhere between $5 and $50) to set aside. Over time, these little deposits add up.
Digit takes your salary, bills, and spending habits into consideration before moving your funds. Every couple of days, the app automatically transfers money the algorithm identified from your checking account to your Digit savings account. You can either store it there or transfer it to an external account.
With Digit, you don't have to keep a minimum amount in your savings. And you can withdraw your money whenever you want!
Mint takes the guesswork out of tracking your finances. This app manages your credit card and debit card usage, as well as your investments.
Mint also lets you pay your bills and schedule your payments for free. You can even pay small bills, like your gym membership, through the app. Mint sends notifications when bills are due, and alerts you when funds are low or you're near your credit limit.
One of the many benefits of Mint is that it lets you organize your finances in one place. You'll always know what's going on, so you'll be able to set a budget and stick to it.
MoneyLion is a great option for those looking to gain access to loans and other financial advice. Have you had trouble getting approved for a loan? This app offers credit builder loans at low-interest rates, so people with little or no credit history can build a borrowing history.
Unlike other advising platforms, you can create a MoneyLion account for free. Doing so will give you access to a zero-fee checking account and investment account.
If you want to step up, there's a Credit Builder Plus option that costs $19.99 per month. At that tier, you get the above benefits plus access to the credit-builder loan.
Do your many accounts make it hard to manage your finances? Planto is a fintech app designed to help you keep them straight.
With Planto, you can link over 50 financial institutions and track your expenses in real time. Based on your finances and spending habits, Planto provides you with saving advice to help you achieve your goals. The app will even send you alerts and reminders to ensure you're following good money management practices.
These days, managing your money can be a challenge. After all, it's not easy to achieve financial stability in the middle of a pandemic.
The good news is, these apps can help you become financially independent. Whether you need to save for retirement or get yourself out of debt, they can help you make smarter choices with your money.