In the fast-paced world of finance, the rise of digital banking platforms has transformed the way consumers manage their money. From user-friendly interfaces to innovative features, these platforms are designed to meet the demands of today’s tech-savvy customers. As we delve into the best digital banking platforms of 2019, we’ll explore their unique offerings and help you make an informed choice.

1. Chime

Chime has become a household name in the digital banking sector by providing customers with a fee-free banking experience. With no monthly maintenance fees, no overdraft fees, and no bounced check fees, it’s a refreshing option for consumers looking to maintain their financial health. Chime offers a savings account that automatically saves a portion of every paycheck and pays a competitive interest rate.

2. Varo Money

Varo Money aims to simplify banking while maximizing savings. What sets Varo apart is its unique ability to allow customers to bank without hidden fees and earn higher interest rates on savings. Varo’s platform includes features such as early direct deposit, budgeting tools, and a user-friendly mobile app, making it an excellent choice for millennials and busy professionals alike.

3. N26

N26 is known for its sleek design and straightforward app interface. Originally launched in Europe, the platform made its way to the U.S. market, quickly gaining popularity. N26 offers no foreign transaction fees, making it an ideal choice for travelers. Users also appreciate real-time transaction notifications, which help manage spending effectively. The free account option also includes a premium feature called N26 Metal, which offers additional perks like travel insurance and unique discounts.

4. Ally Bank

Ally Bank has long been known for its competitive savings rates and exceptional customer service. As a fully online bank, Ally provides a range of services, including checking accounts, savings accounts, and various types of loans. One standout feature is their interest-earning checking account, which allows users to earn on their everyday spending. Customers also appreciate no monthly maintenance fees and 24/7 customer support, ensuring assistance anytime it’s needed.

5. Simple

Simple takes a unique approach by combining banking with budgeting. Through its app, customers can set up Goals—money earmarked for specific expenditures. Additionally, Simple provides insightful spending reports, which help consumers understand their financial habits better. With no overdraft or maintenance fees, Simple’s straightforward system appeals to those looking for a stress-free banking experience.

6. SoFi Money

SoFi Money is positioned as a hybrid between a checking and savings account. With no account fees and competitive interest rates, it provides an attractive alternative to traditional banks. Customers enjoy unique offerings such as discounts on personal loans and mortgages, along with access to financial advisors without additional fees. This platform is particularly appealing for individuals interested in comprehensive financial solutions.

7. Acorns

Acorns may not fit the traditional mold of a banking platform, but its integration of banking and investment features makes it noteworthy. With Acorns, users can round up their purchases to the nearest dollar and invest the difference. This automatic investment feature is designed for consumers who find it challenging to save. While Acorns is more focused on investment, its checking and savings account features make it a formidable contender in the digital banking sphere.

8. Cash App

Cash App has gained tremendous popularity for its simplicity and usability. Initially designed for P2P payments, Cash App has evolved to include banking features, including a Cash Card that offers a unique spending experience. With options for investing in stocks and cryptocurrencies, Cash App stands out for users looking for more than just a banking solution.

9. Radius Bank

Radius Bank offers a standout High Yield Savings account with no monthly fees. Known for providing a better return on savings, Radius is an FDIC-insured bank that prioritizes customer satisfaction. The integrations with various financial tools allow users to manage their money seamlessly. Additionally, Radius Bank features a mobile app that is user-friendly and packed with functionality, ensuring a positive banking experience.

10. Wells Fargo Digital Banking

While Wells Fargo is a traditional bank, its digital banking platform is notable for its extensive services and features. Customers can access their accounts online and manage transactions, pay bills, and deposit checks remotely. The bank’s commitment to security and a robust support system ensures users feel safe while banking online. Wells Fargo’s vast network of ATMs and physical branches provides an added layer of convenience for customers.

What to Consider When Choosing a Digital Banking Platform

When selecting a digital banking platform, several factors should influence your decision:

• Fees: Look for platforms with minimal to no fees. Understanding the fee structure can help you save money in the long run.
• Customer Service: Choose a platform with accessible and responsive customer support, as this can significantly impact your experience.
• Account Features: Review the account features offered, such as budgeting tools, savings programs, and investment options to find what best suits your needs.
• Security: Ensure the platform has strong security measures in place to protect your financial information.
• User Experience: A user-friendly interface can enhance your overall banking experience, making transactions and account management smoother.

Digital banking platforms continue to innovate and compete, providing consumers with incredible options that cater to their financial needs. As you explore these platforms, consider your specific banking habits and preferences to find the perfect fit. Whether you’re looking to save more, spend wisely, or invest with ease, there’s a digital banking solution tailored just for you.