Banking you can do online or on an app

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By Donna Fuscaldo
Posted on May 14, 2025

The brick-and-mortar banking experience that retirees relied on growing up is waning. You may be aware that bank closings are becoming common these days as more people shift to mobile apps and online banking.

There may be a bit of a learning curve for retirees, but once they make the switch, it can open up a world of convenience.

After all, you can do much more than check your balance with an online banking website or mobile app. Plus, you don’t have to get off your couch.

“Smartphone apps are a great way to bank,” said Alison Pahlkotter, innovation product designer and research analyst at GreenPath Financial Wellness, a nonprofit financial wellness counseling service. “They are secure and often easy to use.”

Digital banking services

Digital banking services are popular. An American Bankers Association survey found more than half of U.S. adults (55%) use mobile apps to do their banking, while 22% use online banking via laptop or PC.

And it’s not just tech-savvy youngsters who embrace this way of banking. Fifty-five percent of Generation Xers and 41% of baby boomers are banking online.

It doesn’t hurt that online-only banks — think Ally Bank, SoFi and Capital One 360 — tend to offer better savings rates and lower fees, said Stephen Kates, a financial analyst at Bankrate. They don’t have the overhead of a traditional bank and, therefore, pass along the savings to their customers.

If you are among the holdouts or are new to the online banking world, here is a look at everything you can do without going into a physical bank.

1. Deposit a check online: Most banks enable you to deposit checks via their mobile app using your smartphone camera — and it’s easy to do.

Sign the back of the check like usual, write “For Mobile Deposit Only” below your signature, open the mobile deposit feature on your banking app and take a photo of the front and back of the check.

You’ll be asked to input the check amount and click deposit — and you’re done.

2. Shop for and apply for a credit card: Whether you are looking for a cash back credit card or travel rewards, it is easy to search and apply for a credit card on your bank’s website or mobile app.

Many banking apps will provide information about their credit card offerings, let you search by specific features and even ask you to take a quiz to find the one that’s right for you. The best part is that it’s all aggregated for you. [Ed. Note: But you may find better credit card deals elsewhere.]

3. Get a car loan or mortgage: Even getting a car loan or mortgage can be done digitally through your bank’s app or website. Remember that the rates you get may not be the best, but if you have already done the research and are ready to apply with your bank, it’s made much easier thanks to the bank’s mobile app and website.

4. Order checks online: Most banks let you order checks through their banking app or website. You can typically find this feature under the “Account Services,” “Account Features” or “Order Checks” part of the bank’s mobile app or website.

5. Buy stocks and bonds: This online feature typically requires a separate brokerage account (which you can set up online, too).

Once it’s created, you can buy stocks, bonds, mutual funds, ETFs and even cryptocurrencies directly from your bank’s website or mobile app.

Some banks will even let you connect with a financial adviser by requesting a call on the spot or scheduling a call for a later date.

6. Check your credit score: Banks want to help you build, improve and maintain your credit score. After all, the higher your credit score, the more likely they are to approve you for loans and credit cards, all of which make them money.

Most banks now team up with one of the three credit rating firms — Experian, TransUnion or TransAmerica — or they may use third-party services to provide your credit score for free.

7. Find ATMs: This tip is handy if your local bank branch is closed. Most banks have built-in features that let you search for ATMs near you.

You’ll receive the address and distance from your home when you search. Some have a map to make it even easier to get to.

Tap away, but with caution

Once you get the hang of using online banking apps, you may not want to bother with waiting in line at a brick-and-mortar bank.

Just remember that the price of such convenience is that scammers hope to get your retirement savings or break into other financial accounts. So, practice caution with any online financial apps you decide to use.