These tech treasures keep $$$ in your wallet.
In the not-so-distant past, personal banking was pretty predictable — you’d venture to your local branch and wait in line to cash checks, make deposits, or handle other routine transactions. You might’ve found a bit of amusement in the pneumatic tube that carried checks to the drive-in teller — or the free lollipop.
Fast forward to today’s digital age, where banking has been re-imagined. Those traditional counters have given way to sleek, mobile interfaces with cutting-edge technology. Instead of venturing into a branch, you could be tapping a few icons on a banking app, making wait times almost nonexistent. Today’s banking is all about making life easier and improving your financial well-being. (Shout out to the app and product developers for their hard work.) And as for the lollipop, you’ll have to source one on your own.
Take Capital One, for instance: Its top-rated app is among the five most popular finance apps in the App Store. What sets it apart?
Capital One has a dedicated team innovating mobile banking products, like Cardless ATMs. Have you ever trekked to an ATM for cash, only to realize you forgot your debit card at home? Now in many markets, you can get cash at an ATM without a debit card, through the Capital One app. (Instead of inserting your debit card and entering a PIN, you simply scan a QR code generated by the app at the ATM to access your account.) And not only can you find ATMs at any of their branches and Capital One Cafés, but they have over 70,000 fee-free ATMs, including at many CVS, Walgreens, and 7-Eleven locations.
Senior Director of Banking at Capital One Derek Shay says the company is always brainstorming new ways to make their customers’ banking experience even more convenient. “We’re constantly listening to our customers and their evolving needs,” he says, “so we can figure out the best way to serve them.”
Modern banking is all about putting you in control, so it’s time to take advantage of new features that help keep coins in your proverbial change purse.
Top 4 Modern Banking Conveniences Worth Trying
Tally up your share of expenses
Ever found yourself in the sticky situation of not knowing how to fairly divvy up a bill with friends or family? The app Splitwise comes to the rescue here — and is especially convenient for couples settling expenses from separate bank accounts, or when coordinating vacations or group trips.
How does it work? Simply download the Splitwise app and start entering all of your expenses — from Uber rides to checked baggage fees to rounds of happy hour drinks. Then invite your fellow spenders to join the app and input their expenses. Splitwise automatically takes care of the math, calculating who owes who what, and seamlessly links to your preferred bank, making settling up smoother (and less awkward) than ever.
Access cash more easily
Do you have a free Capital One 360 checking account? Here’s some good news: With the Early Paycheck feature, you can get funds from a direct deposit paycheck two days earlier than usual. (So if Fridays are your usual payday, you could possibly get paid on Wednesday.) Talk about a financial game-changer. “Having access to your paycheck that much earlier allows you to pay specific bills at the right time of the month, ensuring your cash flow stays on track,” explains Shay.
Another tech perk from Capital One? Even better accessibility to your money. In addition to your nearest bank branch, you can deposit funds to your account at your closest drugstore. Capital One’s mobile app enables customers to add cash to their checking accounts at more than 16,000 CVS, Walgreens, and Duane Reade by Walgreens locations, using the bank’s mobile app. Just log in, select “Add cash in store,” specify the dollar amount, and visit a participating drugstore. Your app will generate a barcode — show it to the cashier, hand over the money, and you’ll receive a printed receipt and instant confirmation.
“About 90 percent of our customers now live within a 10-minute drive to one of these retailers,” says Shay. “Anytime they need to add cash, it’s just a quick click of the mobile app and they’re all sorted. As we build financially inclusive products, we’re giving customers more access to their money whenever and wherever they are.”
Ditch those old spreadsheets and embrace budgeting
You Need A Budget (YNAB) is a powerful digital budgeting app designed to transform the way you manage your finances, helping you achieve your financial goals. Take, for instance, the aim of saving up for a special anniversary trip: With YNAB, you can set a dedicated category for your getaway, allocating funds from each paycheck specifically for this purpose. The app’s real-time tracking ensures you stay on course, making it crystal-clear how every dollar is contributing to your dream vacation.
Say you decide to cut back on dining out and allocate the money to that trip fund: YNAB will show you the immediate impact of your choice, motivating you to stick to your budget. As you witness your savings grow and inch closer to your goal, the app becomes a financial ally, guiding your spending decisions. The visual representation of progress serves as a tangible reminder that your financial objectives are within reach, making your saving journey practical and rewarding.
Pare back on unnecessary recurring payments
Ever tried out a free one-week trial for a trendy new app, only to forget about it and end up getting billed because you didn’t cancel on time? It happens more often than we’d like to admit — meaning there’s a good chance you’re not fully aware of all of your recurring expenses. To save you cash, apps like Trim can assess your spending patterns, identifying these recurring payments so you can decide whether or not to keep them.
Combined, these helpful apps are an ideal way to reduce unnecessary spending, make banking easier, and boost your savings. It’s all aimed at keeping your money where it belongs — safely in your account.
