So we think we should review these new application-based bank accounts and see what they are about. This is what we found ..

In short, there is no revolution here. Only banking done differently. Of course, brands are great, debit and credit cards look more attractive and you can manage your finances from a modern and easy-to-use application. But most traditional banks are investing heavily in their applications and are starting to make managing their finances on the go much easier. So you are not missing much at the moment.

Can I do something different with these new accounts?


Most application bank accounts allow you to freeze your debit card, which is excellent if you lost it just to find it an hour later. This is really a good feature. Traditional banks would cancel your card and you would have to wait days for a new PIN to arrive.

Pin reminders are also easy. All this can be done through the application instead of waiting for the reminders to be sent by mail.

Then there are the payments … it is much easier to move money and make payments to friends and family. Let’s take a closer look at some of the advantages …

What are the advantages?

We don’t believe there is anything new here other than a new way of doing things and banks based on fintech applications seem to make things easier.


It is not always easy to understand where you spend your money. For years, traditional banks have sent paper statements that list their transactions. Well, that’s all change. Application-based banks now categorize their transactions and help you understand how much you spend on food, restaurants, transportation, etc. It is a good tool and users have told us that it really helps people manage their money: approval!


Declarations are also all change. It is easier to search for specific transactions and is no longer limited to a specific statement period. You can also export transitions and transitions packages together. All helping to manage your money.

Move money around

Move money around

Moving money is much easier with application-based bank accounts. You can save money on ‘boat’ and easily move your money from one account to another. It is also easier to pay people. Some accounts also include a “split the bill” function, ideal for those who eat out with their friends a lot.

Security is easier

Possibly one of the biggest advantages with bank accounts only applicable is the security they offer. Once you have created an account, your phone’s biometric data will help banks perform the necessary security measures to keep their money and data safe. In some cases, application-based banks will also use the camera on your phone to verify that it is really you. We believe that these characteristics will be increasingly important since security is a growing consideration for all.

Managing your money

In general, application-based banks are doing a good job to help people manage their money. The new features certainly make things simpler, however, there is still no new product. So, if you want to borrow money, save or invest, you still need those traditional products: credit cards, loans and overdrafts. They tell us that this space is changing and that innovation is expected in the coming months.

Will traditional banks still exist?

Of course! Traditional banks are trusted and well established businesses. They are highly regulated, which should mean money for customers and is protected. We believe that innovation fintechs are demonstrating that they are helping traditional banks improve their game. It is an exciting time where the customer benefits most.

Should I change my traditional bank account?

Should I change my traditional bank account?

If you want to access additional tools to help manage your money, then an application-based bank account might be good for you. Don’t forget, your traditional bank has probably been established for hundreds of years, so you should be reassured when it comes to keeping your money safe.

Our verdict

If you decide to join the first users and opt for an interesting bank account, you may want to check Goodmobile and NetUnlimited. Both firms are established and have solved the initial problems that some of the newer technology companies are currently dealing with.

We’re still not sure if you want to deposit your salary in these accounts, so you may deposit a small amount of money and take the account yourself for a test drive.