Checking the account balance or transferring something is easy and convenient from your cell phone. If you have multiple accounts, a multibanking app can be worthwhile. Which apps are good – a test.
With multibanking apps, the accounts of different banks can be managed. These apps can come from banks and savings banks, even if you don’t have your own account there, but there are also bank-independent apps. The magazine only has two out of a total of 14 multibanking apps checked “financial test” (Issue 2/2022) now rated “good”.
Test winners in both major operating systems are the app “Sparkasse Your Mobile Branch” (grade 2.1 for Android and 1.8 for iOS) and the bank-independent app “Finanzblick Online-Banking” (each 2.2). All other apps only scored “satisfactory” or even “sufficient”.
Ease of transfer is important
The auditors primarily focused on the functions (60 percent). They make up the comfort of these apps: How easy is it to transfer money and query transactions and account balances? How are different devices synchronized, can invoices be read by camera and is advertising displayed? There were also points for the handling and protection of personal data (20 percent each).
Bad performance of apps was often due to negative points in transfer functions. On the other hand, there were usually no problems with handling. According to “Finanztest”, even people who only use their smartphones occasionally can get along well with the apps. Most apps are also economical in handling user data.
Only load multibanking apps from official stores
Many apps in the test are free, some providers offer free basic products, but more functions only in paid versions.
Also interesting: How secure is online banking?
Tip from the testers in terms of security: Only ever download banking apps from the official sources. For iOS this is the App Store, for Android it is the Google PlayStore. There the apps are checked for security gaps. Also important: always keep your own operating system on your smartphone up to date.