Chase is diving head-first into the increasingly popular smartphone banking world, offering a new app called Finn. Much like popular all-mobile banking apps such as Simple, Chime and Moven, this new offering helps its users prevent over-spending and also check their buying habits. With a lot of in-app features that are clearly aimed at millennials, this new program has a lot to offer – including a potential $100 bonus for signing up (if you meet the requirements).
It also brings the flexibility with Chase, so you can take advantage of Chase safety and security features, as well as use their ATMs for free nationwide.
Who this app is best for: iPhone and iPad users who only want simple banking features on a clean and easy-to-navigate smartphone application, plus helpful tools to manage your finances like autosaving settings as well as tracking and organizing your purchases.
Who should consider other all-mobile bank accounts: If you use an Android phone, if you are the type of person who likes or needs to speak with bank tellers in-person at physical bank locations, live in an area without a lot of Chase ATMs, or if you want more than just bare-bones banking features for your personal banking.
Here are the basics:
- Offers 24/7 support on the phone (you can also type your questions directly in the app)
- Can use Chase.com to login
- Can also use any Chase ATM for free (ATM finder within the app)
- $100 bonus to sign-up if you haven’t had a Chase checking account before
- Useful tools like autosave, ratings and trends to organize your personal finances and see where your money is being spent
- No monthly service fee
- No Android app available yet
- Not available in all areas (check site to see)
- No rewards program
- Can only make deposits at Chase ATMs or by transferring from another account
- Savings account only earn 0.01% to 0.04%
- 3% foreign transaction fee
Now let’s take a closer look at the Chase Finn mobile bank account app.
All you need to do to get started is either go to the official website and apply, or just download the application and go straight from there.
$100 Bonus Offer
You can take advantage of a free $100 bonus deposited into your account if you meet a few simple requirements: you have to be a first-time Chase checking account holder, make 10 qualifying transactions within 90 days, and keep your account open for 6 months.
Easy to open, easy to use
Applying is quick and you get a debit card in the mail after about ten days. The user interface is sleek and simple to get a hang of.
Connected to Chase
The fact that this application is a branch of the larger Chase retail banking network means that you get a lot of free ATM access, you can log in on the main Chase main site, and you get the benefits of having your account protected by a national, reputable banking institution.
But, unlike standard Chase accounts, there is no monthly fee and no overdraft fee (because you can’t spend more than what’s in the account).
Shiny, modern tools
This app has three featured tools that are attractive if you want to help tame and organize your spending habits:
- Autosave: You can set your own autosave rules
- Ratings: Rate your purchases individually based on your wants and needs to see how you are spending from another perspective.
- Trends: See insights on your spending habits based on your behavior with the app
Depositing checks with your phone, 24/7 customer support on the phone and in the app, no monthly fees, and it doesn’t allow overdraft.
But wait a minute – Finn isn’t the only all-mobile banking app. If you want to enter the digital age and ditch brick-and-mortar banks, there might be an app more suitable to your personal needs.
You also might consider:
If you don’t need to deposit cash:
Consider the Simple app
This account is very similar as it has no overdraft fees, it’s all-mobile, and also offers access to 40,000 domestic ATMs. It also has a mobile budgeting tool that lets you know how much is “safe to spend” using machine learning that sees when you get paid and when your regular bills are paid. There are no fees for card replacement.
Downsides: No savings account available and you can’t deposit cash.
If you don’t mind not earning interest in a savings account and have $50 to start an account:
Consider the Moven app.
This all-mobile app is similar to Simple and Finn, but you need at least $50 to open an account and there is no savings account interest accrual. You can do cash deposits, unlike with Simple, but it can cost up to $4.95.
Downsides: Only has phone support on weekdays, mobile check deposits take ten days to clear, and there is no interest accrual for savings.