Banking can be intimidating for those who want to open a checking account, but it doesn’t have to be. For years, banking has been complicated, with physical branches requiring you to show up and sign many documents to open a simple checking account. Well, the days of physical banking are long gone with the achievement of online banking only. Whether it’s an easy place to send your direct deposit or a savings account for the future, online banking is at the forefront of its ability to provide the best financial services, with excellent customer service, ease of access and simple to use applications. As a generation always on the move, being tied to an old-fashioned local bank is simply a thing of the past. This article will introduce some of the best banking apps for students and their most useful features that can help you get the most out of your money.
Why should you care?
Well, if you have a job, chances are your money will be deposited into a traditional checking account, with limited access to other financial tools. Traditional banks, such as Bank of America or TD Bank, may offer additional financial services, but often require you to create new accounts with their partners. In addition, these banks often have old or outdated websites or applications. New fintech companies are constantly appearing with user experience a high priority in the way they design their applications. These mobile-focused companies often create apps before building websites, emphasizing the importance of the mobile experience for their users. As we continue to be an ever-changing society, the mobile experience continues to be essential in how we interact with our financial situations.
If you’ve been on social media, chances are you’ve seen Chime ads. Chime is all over social media with ad campaigns targeting young consumers. If I could sum up Chime in two words, it would be âuser experienceâ. Anyone who has used Chime will tell you how simple and clear the user interface is, with a smooth home page, easy to use features, and clear instructions on how to conduct financial business. An easy-to-use checking account gives you access to a debit card, as well as additional financial tools such as a savings account and credit builder. The mobile-first experience is ideal for a young consumer and gives you all the tools to start building your credit and understanding how to use a basic bank account.
SoFi is really what it means to have an all-in-one financial app. SoFi lets you open a checking account, investment account, credit card, and apply for loans for free, all in one app. This ease of access is in addition to the fact that you can track other bank accounts and track your credit score in the same app. This all-in-one financial app even allows you to open additional investment accounts from Roth IRA to cryptocurrency investing apps. SoFi offers a wide range of financial tools for the average consumer. For those looking for an easy-to-use, mobile-focused financial app, SoFi offers a range of customer products while providing excellent customer support at the same time.
With the world increasingly remote as we move to a predominantly digital society, online-only banking is one of the easiest ways to access many financial tools. I encourage everyone to open multiple accounts, try out the features, and if there is one, use it as their primary account. The opening of several accounts makes it possible to see and understand the functioning of the different banks. Online banking is here and it’s here to stay.