Best Mobile Bank Apps – Our Top Picks

Compare our top 5 picks for personal mobile bank app accounts for UK residents.

The latest developments in personal mobile app banking have different functions which work for a new generation of on-the-go technologically fluent customers.

With over 26.8 million people using a banking app in 2019 according to research by UK Finance mobile banking is now mainstream.

We have selected 5 providers who offer mobile apps that have great features ranging from understanding your spending behaviour, features for allocating money to savings goals, competitive interest rates, convenience for using overseas and costs. Typically these apps are great for use on iOS and Android phones.

Its worth noting there is nothing stopping you having an app based bank account which runs alongside your existing traditional bank account.  You can keep paying in your salary into your existing account then transfer your monthly spending into your app so you can keep a close eye on where your money goes.

We have selected 5 top mobile bank accounts broken down by features of each of these app-based banks to give you an overview of the banking functions available on each:

1. Starling Bank

  • No minimum monthly pay in
  • Easy set up in minutes
  • No monthly fees
  • Great for overseas use
  • Spending insights – see where your money is going
  • Goals – set money aside for specific goals
  • Earn 0.05% AER interest paid on account balances below £85,000
  • Pay in cheques by photo using the app
  • Card controls – lock your card if you lose it
  • Round up transactions – put the difference into your savings pots
  • 24/7 customer support
  • Fully FSCS protected up to £85,000
  • Signed up to “Current Account Switch Service” (CASS) – Yes
  • Winner 2018,2019 and 2020 Banking Awards

More info on Starling Bank »

2. HSBC Advance 

  • Need to pay in minimum of £1,750 pm
  • You get a minimum £1,000 overdraft facility
  • No monthly fees
  • Earn competitive 2.75% AER interest paid – Save between £25 and £250 pm
  • Fee free international transfers
  • Help setting up accounts abroad
  • Pay in cheques with a photo
  • Block or unblock your bank card at any time
  • Signed up to “Current Account Switch Service” (CASS) – Yes
  • Fully FSCS protected up to £85,000

More info on HSBC Advance »

3. Virgin Money Account 

  • Savings “pots” feature
  • Earn 0.50% interest rate for money put away for savings
  • 2.02% interest rate for current account up to £1,000
  • No fee for maintaining account
  • Money withdrawal via Virgin Money Current Account
  • Signed up to “Current Account Switch Service” (CASS) – Yes
  • Fully protected up  by FSCS to £85,000

More info on Virgin Money »

4. Bunq

  • Premium account – €7.99pm
  • Voice contolled app
  • Earn 0.27% interest rate for money put away for savings
  • Easy budgeting – set up sub accounts with individual IBAN nos
  • Auto save feature – Round up payments and pay the difference into set sub-accounts
  • Spending insights
  • You can block cards at any time – change pins at any time
  • Free global ATM withdrawals
  • Apple and Google Pay supported
  • Mastercard included in premium subscription
  • Fully protected by the Netherlands deposit guarantee scheme (DGS) up to €100,000

More info on Bunq Money »

5. Monzo

  • Yearly interest rate up to 1.02% AER over £500
  • Uses “Pot” function in order to segregate saving
  • Round-up options when spending to save in other pots
  • Ability to add images to pots to motivate spending
  • Open accounts in-app
  • Easily move money between accounts
  • Easy to withdraw savings
  • Full protected by the FSCS up to £85,000

More info on Monzo »

These mobile bank current account features and services were accurate September 2020. But banks are very aware of customer demands: features may change or be extended.

Written by Editorial Team ,
5th September 2020