You may have noticed that many banks are now asking you to sign up through their app. In fact, there are some accounts where you must download the app to begin the process of opening an account. There is no other way to sign up. If you attempt to apply via desktop, the company will direct you to Google Play or the Apple App Store. Your method might take one extra step, but in the end, you’ll have to get the app before you can open an account.
Banks like this idea because it reduces the number of account applications that never materialize into active accounts. When you have to open an account through the app, then the process of applying for an account merges seamlessly with activating the account.
For the consumer, this process has benefits. Without the app, you would miss out on many of the services offered by the account. You would never be able to deposit a check with your phone. It would be harder to check your balance. It would be harder to contact customer service.
Once you have the app, all of your communication with the bank is simple to do. No need to search for a phone number – you can contact the card company through the app.
Naturally, these accounts do everything on mobile. You will be able to send payments, transfer funds, and check your balance with only a few swipes of your thumb.