Smart phones are not just for playing Angry Birds and checking sports scores. A recent study by Corporate Insight, a financial-services research firm, found that 12 of the 16 largest banks in the U.S. now have at least one mobile application for the iPhone. And Doug Miller, senior analyst at Corporate Insight, expects apps for Android phones to catch up soon.
Most account holders who download their bank's mobile app can check balances on the fly, transfer funds and see in real time which transactions have cleared. Ten of the big banks -- Bank of America, Capital One, Chase, Citibank, ING Direct, PNC, SunTrust, TD Bank, US Bank and Wells Fargo -- plus USAA let customers pay bills with their mobile phones, too.
And banks continue to roll out enhanced features. For example, Chase and USAA offer remote deposit for both iPhones and Androids. To deposit a check, you snap a photo of the front and back with your phone and send the images to the bank.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Want to move money? Bank of America, Citibank, PNC, Wells Fargo and USAA, among others, let you transfer money from one account to another. Wells Fargo also lets you move money to accounts at other banks and to other Wells Fargo account holders. BofA and Citibank let you check your balance on any linked account, including a mortgage or home-equity line of credit.
To use your bank's smart-phone app, you must first register for online banking on your bank's Web site. Your bank won't charge you for using its mobile app, but your wireless carrier may charge a fee, depending on your data plan.
-
Stock Market Today: The Dow Adds 15 Points To End Its Losing StreakEquity indexes opened higher but drifted lower as markets priced in new Fed forecasts.
-
What Is a Qualified Charitable Distribution (QCD)?Tax Breaks A QCD can lower your tax bill while meeting your charitable giving goals in retirement. Here’s how.
-
Roth IRA Contribution Limits for 2024 and 2025Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How to Figure Out How Much Life Insurance You Needinsurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life insurance needs.
-
Amazon Big Deal Days Is Coming! We’ve Got All the DetailsAmazon Prime To kick off the holiday season with a bang, Amazon Big Deal Days runs Tuesday, October 8 and Wednesday, October 9.
-
How to Shop for Life Insurance in 3 Easy Stepsinsurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
-
Five Ways to Shop for a Low Mortgage RateBecoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
-
Retirees, It's Not Too Late to Buy Life Insurancelife insurance Improvements in underwriting have made it easier to qualify for life insurance, which can be a useful estate-planning tool.
