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Banking apps

I was thinking few days ago what I want from a banking application. So I decided to write an article from the users point of view and their expectations when it comes to banking applications. So this one is for everyone, not only technical people :).

We have to admit that banks are huge dinosaurs, especially when it comes to their web site and the web application offered to users. And it shouldn’t be the case. They’re making huge piles of money out of thin air, I’m trusting them with my money, at least they should give me some good tools.

At first, there are some features that every banking app should incorporate. You should be able to access any of your accounts, current, savings or loans, have an AGGREGATED status of all these, create new ones in any currency or delete existing, be able to easily transfer between them and any other external accounts. And if I want to transfer money, I don’t care if it’s internal, national or international, I’ll just give the recipient, the IBAN (or any account identification string), the amount and that’s it. Show me the transaction fee (and the exchange rate if that’s the case) and if I accept it, just do it. And the same for scheduled transfers in the future or recurrent (weekly, monthly, yearly) ones. If the transaction fee will change on any of these in the future, deactivate them and just let me know so I can reactivate them.

Direct debits are a must. I like a bank where I have to spend less of my time in the bank. Offline or online. So I should be able to easily setup direct debits like any other transfer – specify a recipient, IBAN and a limited amount per week, month or year. Also any company should be able to easily request debits from my account, through some kind of API. And then I could do this not only for my gas and electric bill, but also for my internet provider or gym subscription. And I can cancel them at anytime or just set an expiration date.

Another must is to be able to associate my card with any of my accounts. Imagine that I go abroad and then I would like to spend money from a foreign currency account. Be able to switch and switch back instantly, when traveling is not uncommon, shouldn’t be impossible or a hassle.

A mobile app with which I can pay, without any credit/debit card is also something that should stay in the ordinary area, not cutting edge tech.

Categories: Web
  1. Meghan Cannizzaro
    January 24, 2018 at 2:27 am

    Also, if I have a loan with the bank, let me make a payment from another account directly through the app and mobile website. My bank only supports this on the desktop site. 🤦🏻‍♀️

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