Top Banking Service Providers in The UK
-
Secured banking service
-
Immediate account opening
-
Simple, cost-effective, 100% app-based banking
9.1
What is a Mobile Bank?
Why Use a Mobile Bank
24/7 availability
No matter where you are, at home or abroad, you can access your bank account via the app, check your account balance, control your savings, get customer support, make payments and even lock your debit card if needed. In addition, get real-time notifications every time you make a transaction, so there won’t be any surprises at the end of the month. No need to make appointments, stand in line and lose working hours to manage your finances.
Get approved quickly
Opening an account with a mobile-only bank is simple, with no heavy paperwork. Just download the app, verify your identity, top up your account and you’re ready to go.
Lower fees
Another main reason to use a mobile bank is the low (or no!) fees. As a mobile-only platform with no physical branches, mobile banks can offer lower fees than traditional banks – especially when it comes to ATM withdrawals, money exchange/transfer and payments abroad.
Makes traveling easier
Mobile banks = borderless banking. Low exchange rates and low/no ATM withdrawal fees worldwide make traveling a whole lot easier (and cheaper) than with traditional banks- especially in the eurozone. And for added safety, lock or unlock your debit card while you travel, directly in the app.
Go paperless
One of the frustrating things about traditional banks is the amount of documents, contracts and letters that are sent to your mailbox. With mobile banks everything you need is in the app and all communications are sent to your app or your email. Gone are the days of rummaging through piles of paper around your house – and protecting the environment is the cherry on top.
Quick loans
Unlike traditional banks, some mobile banks offer loans with a much simpler process. u003cspanu003eIn most cases, if you apply for a loan and are approved, your funds will be transferred to your bank account within minutes of agreeing to the terms and conditions.
How to Compare Mobile Banks
To compare mobile banks and find the right app for your banking needs, there are a number of factors you should consider:
Fees, including transaction & ATM withdrawal fees
Although all mobile banks offer lower fees than traditional banks, there are still differences between each and every mobile bank. You may also wish to check other fees such as card replacement, overdraught and top-up fees before selecting your preferred mobile bank.
Monthly Plans
The leading mobile banks offer a free account, so you only have to pay a small fee for the services you use. Many mobile banks also offer premium plans, offering additional benefits such as free withdrawals, even lower fees, insurance and more.
Saving and budgeting tools
Some mobile banks offer stand-alone savings accounts, while others offer nifty features such as rounding up your purchases and placing the difference in a ‘piggy-bank’ in the app as well as budgeting goals and targets.
Security
The leading mobile banks, including those on this website, adhere to the highest safety standards, ensuring your money and data are protected 24/7. The mobile banks compared and reviewed by top10mobilebanks.com are authorised and regulated by local authorities, safeguarding their customers’ funds using a network of stable European banks.
Payments
All mobile banks offer a debit card for payments and withdrawals from your mobile bank account. In addition, many banking apps also offer e-wallets such as Google Pay or Apple Pay, making online and in-store payments even easier.