The benefits of mobile banking

Mobile banking makes it possible to manage your finances from almost anywhere. But it can also help you better track your finances and take the stress out of monitoring your accounts. 

Here are some of the benefits you could experience by incorporating mobile banking into your money management routine.

What you’ll learn:

• Mobile banking gives you access to your accounts 24/7 right from your smartphone or tablet.

• With the Capital One Mobile app, you can easily monitor your transactions, add cards to your digital wallet, send money to friends with Zelle® and more.

• Mobile banking apps can make it easier to budget and help you reach your financial goals.

Though most major banks and credit unions offer mobile banking apps, the mobile banking features available will vary by financial institution. But regardless of where you bank, you should experience some version of the following mobile banking benefits.

Mobile banking gives you more choices and flexibility about the financial institutions you work with. Since you can use your smartphone to take care of many basic banking tasks, you may be able to work with a bank that’s not local to your area or one that doesn’t have a branch close to your home.

Capital One enables you to open a bank account online from almost anywhere. 

With traditional banking, you’re only able to take care of tasks during regular business hours. If you work long days or tend to only have time on the weekend, finding time to visit your bank could be difficult.

Mobile banking apps let you securely manage your money at any time, day or night. You’ll have access to your full account details and can make changes to your account as needed right from your bank’s mobile app. 

The Capital One Mobile app puts all of this information at your fingertips, even if you’re accessing it outside of normal business hours. You can see all of your accounts, deposit checks, transfer funds, schedule online bill payments and more right from the app without needing to go in person.

You used to have to write a check or pay others back with cash to settle expenses between you and someone else. But mobile banking makes it easier to pay others with payment services like Zelle.

You can also set up automatic or one-time transfers between your own accounts, which may be beneficial if you’re looking for ways to automate savings or ensure you have enough in your checking account to cover a large purchase.

Mobile banking apps can also make it easier for you to track your spending. You’ll be able to view your account activity as well as any recurring or upcoming payments set to process. And since you can check your account at any time, you’ll likely have a better idea of where your money is going each month. This could make it easier for you to stick to a budget. 

As an added benefit, recurring payments and subscriptions made with your Capital One credit card can be managed through the Capital One Mobile app. Within the app, you can find subscription management features that will allow you to view your expected subscription payments all in one convenient place, as well as cancel unwanted subscriptions or block future charges.¹

Mobile banking apps often help you get answers to your questions quickly. Many have built-in FAQ pages or the ability to chat with a representative or a chatbot to find out the information you need. 

Eno, Capital One’s virtual assistant, can answer many of your questions 24/7. You can also use the tool to check your account balance, ask about your next payment date or get answers about your account whenever you need them. 

Some mobile banking apps may also make it easy to access a virtual card when you don’t have your wallet handy. A virtual card number replaces your actual card number with a unique number. When you shop online with a virtual card number, your actual card number isn’t shared with stores, so your credit card account may be better protected in the event of a data breach. Capital One offers a few ways to access and use virtual cards: via the Capital One Mobile app, when checking out with autofill on Chrome or when using the Eno browser extension to create virtual cards for specific stores.²

Though you can get your free credit report from AnnualCreditReport.com, many mobile banking apps are trying to make it easier and faster for you to check your credit score. The exact features you’ll have access to may vary from app to app, so check with your bank or financial institution to learn more about the credit score monitoring features it provides.

With CreditWise from Capital One, you can monitor your credit score in real time. When you enroll, you’ll begin receiving alerts to tell you when your credit report changes or when your Social Security number shows up on the dark web. CreditWise is free and available to everyone, not just Capital One account holders.

Mobile banking helps make it easier to track your account’s activity and monitor your cards for fraudulent charges and suspicious activity in real time. And in the Capital One Mobile app, you can immediately take action to help protect your card and your information if you notice anything suspicious.

The Capital One Mobile app lets you use secure biometric sign-in features like face or fingerprint ID instead of using a password. You can also lock your card with a tap of your finger to prevent unauthorized charges if needed. Plus, you can enable alerts and notifications through the Capital One Mobile app to help ensure your card is being used as you intended.

Mobile banking is designed to be convenient and help you take some of the stress out of managing your finances. And with the Capital One Mobile app, you’ll be able to bank on your schedule and keep an eye on your accounts wherever you go. Download the app today and start experiencing these benefits for yourself