You probably already have a banking app if you like to transfer money and check your account balance while on the go - namely the app of your bank. But which bank has the best app? And what other offers are there in the fintech industry?
Driving to a bank branch to transfer money or set up standing orders has become inconceivable for most people. According to Statista Online Banking, every second German uses.
And even computer and laptop have become unpopular for banking affairs. Almost every third manages his accounts mobile, so with banking apps on the smartphone.
Most banks have a corresponding application on offer. But what are you eating? And which alternatives are there?
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Banking apps of Sparkasse and Co.
Under the apps of the banks, the Sparkasse is clear test winner of the Foundation Warentest. The functions received the rating 2.2. Because next to photo transfers can also be imported invoices. In addition, the app is multi-banking capable. Handling is $ 2.3, overall, the Sparkassen app received the note 2.2.
The apps from Targobank (which was replaced by an improved version after the test result) and Postbank performed particularly poorly. They both received the grade sufficient. The reason: They bring or only brought a few functions with them, for example when specifying transfer details. It was not possible to transfer money to other euro countries with the Targobank app. The same applies to the Android version of the Postbank app.
You can find all the results of the Stiftung Warentest here.
Multibanking apps: manage multiple accounts in parallel
Current account, partner current account, call money account - if you use offers from different banks, you might prefer to switch to an independent multibanking app. Because different bank accounts can be administered there in parallel.
The 'Outbank' app offers its customers access to all important banking functions such as transfers and standing orders and, judging by the ratings and download figures, is very popular. You can predefine categories so that your expenses are automatically assigned tags such as food or transport.
A similar offer is 'Banking 4 '. The banking app works with algorithms that automatically categorize expenses. In addition, the categories can be freely defined.
With 'Finanzblick ' you can also keep an eye on insurances and custody accounts. This banking app also categorizes your expenses. Within the categories you can set budgets and set that you are informed if they are exceeded.
Stock app: practice investing money and manage your portfolio on the go
You would like to invest money soon and are still looking for a suitable equity app?
You can practice investing money with the app 'Bux '. Every new user starts with so-called FunBux, i.e. play money. The money can be increased or lost. The app is similar to a game or messaging app, so that young people feel addressed and the prejudice that financial topics are dry and boring is eliminated. If you want, you can also trade with real money - but only from a certain level.
The trading app 'Stocks ', targeting millennials, will also be available from the same company from the beginning of 2019. There is also no commission for buying and selling European and US stocks. Nick Bortot, CEO and founder of Bux, provides the reason for the concept: "Millennials in Germany in particular believe that stock trading is only for the rich. The investment costs are notorious."Stocks is supposed to change that and open up access.
An alternative is the app from the young online company 'Trade Republic '. It describes itself as "Germany's first mobile and commission-free broker ". The Stiftung Warentest has checked what exactly the app is actually good for. The result: great for cost-conscious traders, because a purchase or sale costs a flat rate of 1 euro. However, the app is less suitable for long-term investors. Although the range seems to be quite extensive, it is rather small in relation to the overall market. For example, the app only offers ETFs, i.e. passively managed funds.