App Only Banks

AnotherJoe

adindas wrote: »

The problem with APPS based bank here is that, every bank have their own Apps. In the future if every bank insist on using their apps based banking, Are you going to install all of them on your phone ?? It might be more secure, but if you lose your mobile devices with ten bank apps on it (say) it is also not secure.

It should be. If it isn't, you shouldn't be using that mobile or that app (or both).

(Also, if you only had one app for multiple banks, that would be less secure since a bug in one app would open up access to all banks. )

adindas wrote: »

Moreover it will slow down your mobile device to process other instructions.

No, it wont.

Malthusian

Nick_C wrote: »

I thought all apps on Google Play Store are checked and authenticated by Google?

Even if they do I wouldn't rely on it. That's dangerously close to "This bond offering 8% guaranteed interest must be legit or it wouldn't be on Google" logic.

chockydavid1983

I work in app development and the checks are much less stringent for Android than they are for iOS. Whether they are more stringent for banking apps, I don't know.

gingercordial

adindas wrote: »

Meh, I am talking about the benefit to customers.
How many banks/ BS you are banking with. Do you have more than 20 ?
Are you you going to install all of their apps on your mobile devices ??

I've just counted: I have sixteen banking apps on my phone (including Paypal). I'm happy to have them. Very happy to be able to do the majority of my banking from the bus during my commute. My phone has more than enough space for this.

jimjames

adindas wrote: »

Meh, I am talking about the benefit to customers.
How many banks/ BS you are banking with. Do you have more than 20 ?
Are you you going to install all of their apps on your mobile devices ??

I currently have 8 different banking apps, it's no hassle at all and makes zero difference to the speed of the device

tempus_fugit

adindas wrote: »

Meh, I am talking about the benefit to customers.
How many banks/ BS you are banking with. Do you have more than 20 ?
Are you you going to install all of their apps on your mobile devices ??

Absolutely no reason why not. Modern phones have plenty of storage and they can easily cope with dozens of apps. I have around 9 and they work very well.

tempus_fugit

Malthusian wrote: »

Even if they do I wouldn't rely on it. That's dangerously close to "This bond offering 8% guaranteed interest must be legit or it wouldn't be on Google" logic.

It's pretty irrelevant anyway, as the apps in question are produced by the banks themselves and they are not going to release an app that is not absolutely secure. Just make sure you are downloading the official app from the appropriate bank that's all.

Alexland

tempus_fugit wrote: »

Absolutely no reason why not. Modern phones have plenty of storage and they can easily cope with dozens of apps. I have around 9 and they work very well.

Must be nice to have a modern phone then.

I am unfortunately careful enough that they usually last about 4 years (with a battery replacement at 2 years) before they develop an annoying intermittent fault that causes me to need an upgrade. I find they usually run out of storage after about 18 months as app sizes grow so I go through a process of gradually uninstalling apps to clear space. It's nice our employer provides phones on an unlimited usage tarrif but it would be nice to occasionally get a choice of handsets.

Alex

Lorian

graham.helliar wrote: »

With the 'App' being the only way to access the account I have no independent way to verify what its saying is true. Any advise on how I can verify the money is going where I think it is?

When you set up an account it tells you a sort code and account number relating to your account. When I pay in to mine my bank identified the sort code as belonging to ATOM.

If you do a faster payment (try £50 first if you like, the minimum) then within a couple of hours you should see it in the account. Bear in mind you only get a few days window in which to add more money to the account. You can open multiple accounts though.

As far as the app is concerned, if you want to ensure you get the genuine app navigate here on your phone and click "get the app":
https://www.atombank.co.uk/

Eco_Miser

Alexland wrote: »

Finally I really don't understand why anyone would be integrating digital cheque photo technology into apps as such effort would be better invested in eliminating cheques altogether.

While personal cheques may be almost obsolete (they help validate the user when setting up certain savings accounts), business cheques, where multiple signatures are required, and payment needs to accompany other paper documents, are still well used.

Meanwhile linking a picture app and a banking app so pictures of cheques are securely delivered to the bank seems almost trivial.