(CONSUMER REPORTS) — When was the last time you stepped foot into a bank? Today, many of us skip the branch and instead, bank on our phones using an app. With this shift, there’s been a rapid rise in digital-only banking services. Consumer Reports looks at which banking apps you can bank on when you need them.
In a recent survey, Consumer Reports found that three out of four Americans use one or more banking apps. Which apps are the best?
CR evaluated the apps for safety, privacy, transparency, support for financial well-being, and accessibility.
CR’s experts looked at the apps of five large traditional banks and five online-only digital banking providers.
If avoiding fees is important to you when looking for a new banking service – a digital bank may be your best bet, but there is a tradeoff.
CR found that most digital banking providers offered consumers free checking …