What is App-Based Banking?
App-based banking is a relatively new way to manage your money, but it has grown tremendously and is now an expected feature. We all know how much technology has changed the world we live in, so it is no surprise that banks and alternative banking solutions like Suits Me® have moved with the times. Gone are the days of trekking to your local bank. Now, you can quickly and effortlessly check your finances using a mobile banking app.
How to Use Mobile-Banking Apps
You will need to have an account with a bank or banking solution to use a mobile banking app. If you haven’t got an account yet, whether that’s because you have a poor credit history, don’t have proof of address, or for another reason, you can quickly and easily open an account with Suits Me®.
Once you have a Suits Me® account, all you need to do is download our mobile app and find your login details in your emails. Different apps will have different features, but with Suits Me®, you get the same great features as you do with our online account.
Advantages and Disadvantages of App-Based Banking
With everything in life, there are pros and cons. We covered these in another blog, so head over to What Are Mobile Banking Apps to find out more.
How to Manage Your Money with App-Based Banking
The main advantage of app-based banking is the convenience of managing your finances from your phone. You can quickly and easily check your balance, recent transactions, and your savings.
1. See How Much Money You Have Spent
A great advantage to app-based banking is how easy it is to see where you have spent your money. You can see how much you spend on groceries, or on your bills and this can be very helpful for future budgeting. You can also quickly identify areas where you need to cut down, or where you are likely to go over budget if you carry on spending as much as you are.
2. Pending Transactions
Not only can you see what you have previously spent, but you can also see pending transactions so you know how much is going out.
3. Send Money
If you’re splitting a bill and need to ping your share over to a friend, you can quickly and easily do this in the app. Instantly send money to a friend, all from your smartphone.
4. Check How Much You Have Left to Spend
App-based banking really comes into its own when you need to know how much you have left in your account. You can quickly check your balance, which is great if you need to know how much you can spend, or if you’ve reached your budget for the month.
5. Put Money Aside
With the Suits Me® mobile app, you can track what you spend. This allows you to put set amounts of money aside, whether it is for bills or for a rainy day.
Managing your money using app-based payment features is a great solution to a modern lifestyle. If you’d like to join a modern solution, you can open an account with Suits Me® in just a few minutes.
Download the Suits Me® Mobile App Today