Occasionally high-street banks offer incentives of £100+ if you switch to them, which can be really lucrative, or they offer ongoing rewards such as in-credit interest or cashback on bills, something the challenger banks don't tend to do.

Update September 2017: It’s eight years since I first braved this subject, expecting a snowstorm of protest.

You can pay in cash anywhere that has PayPoint (find your nearest), though it costs £1 per deposit. These have great tech and features that help you know where you're spending, and help you save towards your goals, all within the same app and same account. If the company you're complaining to won't help, the Resolver tool also helps you escalate your complaint to the free Financial Ombudsman Service. You also earn a small amount of in-credit interest. Notably, fluctuations in the number of new downloads for non banks is common. The debit card is a Mastercard, so you'll get the near-perfect Mastercard rate, which you can check here. You won't have to pay this fee if you use Monzo for your everyday banking or pay for Monzo's premium account (see more info). If you have any problems or questions, you can contact Starling via the in-app messaging service. Of course, all this convenience sometimes comes at a price. We ran a banking apps poll to ask which apps are best – and while Starling and Monzo (above) came out on top for features and ease of use, the two below were the best-rated big names. These accounts can be beaten if you're looking for accounts paying you £100+ to switch to them, or accounts that give cashback or other rewards. However, the drop across the board in March calls for a deeper analysis. When applying for an account, Starling will run an initial credit check – this is a 'soft' search – which won't affect your creditworthiness. As an added boon, there are no fees for spending or cash withdrawals abroad, making it a top-pick debit card overseas, though it's possible this'll change in future. The rate you get depends on your credit history.

New research from Nucoro reveals that between 14th March and 14th April, because of the COVID-19 lockdown, around 12% of the adult population in the UK – some 6 million people – downloaded their bank apps for the first time. For the challenger banks below offering current accounts, you apply through their apps and the process is quick and easy, typically taking a couple of minutes. And unless you've chosen a fixed-term savings pot (see below), you can move money back into your current account whenever you want. You can withdraw up to £400/day from ATMs, up to a maximum of £5,500/month. MoneySavingExpert.com Limited is an appointed representative of MoneySupermarket.com Financial Group Limited. Monzo also has a feature called 'Bill Tracker' which alerts you if a regular direct debit leaving your account is higher or lower than usual – helpful if, for example, you've been moved on to a higher energy tariff or racked up a big phone bill without realising. One element is the 'decoy effect' – where a higher-priced item is sold, to make items next to it look like bargains. Yes, Monzo has full FSCS protection, so up to £85,000 is safe when saved with it. There are no fees to use your card abroad, making it a top pick for overseas use. Generally, the bank was emulating peers by witnessing an increase in the number of users a year earlier. If the provider's signed up to the Current Account Switch Service (CASS), this process is quick and seamless and works the same way as switching to a traditional bank. Top-rated traditional banks' apps. the same time period. This should make it easier to budget and keep track of your money, allowing you to cut the cloth where needed. App-based banks also let you easily freeze and unfreeze your debit card if you've temporarily misplaced it.

This might be a good option if you aren't convinced of the benefits of app banking but are keen to see what all the fuss is about. Yes, Starling has full FSCS protection, so your money saved with it is safe up to £85,000.

Bank with Traditional Bank Mobile Banking! Unfortunately, if you have a Windows Phone or other smartphone/tablet, you WON'T be able to get any of the new apps in this guide – though you can get traditional banks' apps (see Cheap Mobile Tips if you want a new phone). For all the latest deals, guides and loopholes simply sign up today - it’s spam free! Does it matter what kind of smartphone I have? Monzo has no fees for spending abroad. All apps featured in this guide are free to download – though some have costs associated with running them, which we clearly explain in our best buys below. Lloyds Bank: The Lloyds banking app has got all the basic banking features covered, from checking your transactions to locating the nearest branch.

Bank with Traditional Bank Mobile Banking! Non-traditional FS firms impact on the banking value chain.

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This means you'll easily be able to see how much you spend in one particular shop each month (coffee addicts beware! But if you're after a high-tech account, these are our top picks. Traditional banks will find it difficult to evolve. App-based Starling Bank* offers a full current account that you can open in a couple of minutes. Forgot your PIN? view Wi-Fi connections, If you get a notification your debit card's been used in Nando's, and you're sitting at home watching TV, you can immediately freeze the card within the app to stop any further fraudulent use, then call the bank to let it know about the fraud (and to send you a new card). With Family Sharing set up, up to six family members can use this app.

The surge of digital banking has also created a surge in cybercrimes, as online banking opens up a new avenue for criminals: if a customer accesses his or her banking information over an unsecured …

Be aware that any money you have in a pot won't be included in your main account balance. Cash in a savings pot is held by one of Monzo's partners (with full UK savings safety protection) – these are Paragon, OakNorth Bank, Investec and Charter Savings Bank.

Bank with Traditional Bank Mobile Banking!

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