Open a free account with digital bank Starling
Open a free account with digital bank Starling
- No monthly fees or fees overseas
- Apply in minutes, direct from the app
- 24/7 support
Digital banking
Compare app-based banking accounts and spending cards.
Mobile banking puts your finances at your fingertips 24/7. There's a host of challenger banks, digital-only banks and personal finance apps available, designed to give you better, faster control of your money. We've rounded up what you need to know from reviews and product comparisons to news and video interviews with the key players.
Compare challenger banks and apps
Table: sorted by promoted deals first
Read digital banking reviews
We review every digital bank, app and challenger. Our reviews are regularly updated to cover new features and releases.
D
H
M
R
U
Y
Latest digital banking news
Get 20% off FinovateEurope tickets with Finder
FinovateEurope 2023 is returning to London on 14 and 15 March, 2023. Get 20% off your ticket with Finder.
Read more…
Chase looks to add Nutmeg account linking to its app
Chase has redesigned its UK banking app ahead of its integration with robo-investment platform, Nutmeg.
Read more…
What is digital banking?
Digital banking is a way to control your money, usually through a smartphone app or web app. It allows you to log into your account anywhere with Internet access, giving you constant visibility of your money and helping you understand the best way to manage it.
Why should I use app-based banking?
There are several advantages to app-based banking:
- Banking access in your pocket
- Many companies offer 24/7 access to banking support
- Instant spending notifications
- Many banking apps offer ways to automatically save money
Another major benefit of app-based banking is the degree to which it has opened up the competition. The new Open Banking rules have enabled third-party apps to innovate, drawing on the infrastructure of traditional banks.
Things to know about app-based banking
Here are a few things that you may not know about using your mobile as your main point of contact with your bank:
If you want to share your information, your bank has to agree
Many banking apps are designed to help their customers save. These apps access your current bank accounts and use clever computer programs to analyse your spending and look for ways that you could save money.
Previously, you could ask your bank to give these apps permission to view your banking data and the bank could refuse. Now, as long as the app is properly licensed, your bank must grant access if you agree to it.
Different types of app-based banking
App-based banking is different from traditional banking in many ways. Unlike traditional banking, app-based banking covers a much wider definition of “banking”.
Current account apps
As part of the app-based banking innovations, a clear class of banking app has emerged: the challenger bank. Challenger banks are new, fledgling banks that are aiming to take on the big, traditional high street banks and change the way we save and spend money. Challenger banks such as Starling, Tandem and Monzo are similar to traditional banks in that they offer the full current account experience but with all the added benefits of an app-based bank.
Apps that help you save
One of the most common reasons for people heading away from traditional banks and towards app-based banking is how easy app-based banking makes it for people to save money. Several providers such as Plum and Chip offer automatic savings for customers. Plum’s clever computer program looks at your spending habits and income and identifies how much you can reasonably save each month and then helps you set up a direct debit to your Plum savings account for this same amount.
Prepaid card apps
Another way to use app-based banking to help you save is through the use of prepaid cards. Cards with banking companies such as Pockit, Cashplus and Tuxedo allow you to load specific amounts of money on to your card and even further segregate this money into “pots” to spend on different things. This way you don’t have access to too much money all at once and are less likely to fall for those expensive “impulse buys”.
Investment apps
Another popular way to use app-based banking is saving through investment. Apps such as Moneybox allow you to make weekly or one-off deposits to three risk-assessed categories of investments. Several of the app-based banks also allow you to sign up to a “round-up” where your account rounds up your purchases to the nearest pound and uses the change you would have received as an investment.
Traditional banking apps
App-based banking doesn’t only apply to challenger banks or money-saving banking apps; it’s also becoming increasingly possible to bank on your smartphone with traditional banks such as Barclays and Natwest, both of whom have highly-rated mobile apps where you can control your money.
All the content may be republished with a link to this page
Press enquiries
Banking in lockdown: Is the honeymoon over for challengers?
Finder published a paper in September 2020 on how the coronavirus pandemic has changed banking and how the banking industry is adapting. Our paper includes original research from social analytics specialist DataEQ (formerly Brandseye) and predictions from experts including Helene Panzarino, associate director of The London Institute of Banking & Finance, Jamie Broadbent, head of digital & innovation at RBS International, Nigel Verdon, CEO at Open Banking platform Railsbank and Jon Ostler, CEO of Finder UK.Download your free copy
All the content may be republished with a link to this page
Press enquiries
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
Read more on this topic
- Compare £2,500 loans
Looking to borrow £2,500? Find out how a personal loan could give you the funds you need.
- Compare £8,500 loans
If you’re looking to borrow £8,500, a personal loan could offer you the funding you need at a competitive interest rate.
- UK credit score checklist for May 2023
Learn more about what to look out for when checking your credit report.
- Cardeo review May 2023
Learn more about how the Cardeo app could help you pay off your credit card debts.
- Best easy access savings accounts for 2023
Earn interest on your savings while still being able to withdraw them if you need to with an easy access savings account.
- Side hustle statistics for 2023
Almost half of Brits (44%) have a side hustle in 2023. The average income from side hustles is £205.79 per week, or £10,701.24 per year.
- Get organised with Starling’s new “Split Payment” tool
Starling launches a money management tool to help you divide up your salary and send funds to different accounts automatically.
- Weekly share tips: This week is Berkshire Hathaway
Why George Sweeney believes Berkshire Hathaway is one to watch. This week’s share tip. Not financial advice or a recommendation.
- Nationwide customers to get Fairer Share Payment worth £100
Nationwide is planning to give eligible members £100 in June as part of its newly launched Fairer Share scheme.
- How to buy cryptocurrency
There’s lots to consider when buying cryptocurrency. Here’s your step-by-step guide.