Phone Apps You Can Bank On

Keeping family finances in order can get complicated, especially when the money is a little tighter than it used to be. While web-based "e-banking" can help, you can't exactly haul your computer around in your pocket or pocketbook with your checkbook and wallet.

That's where mobile banking apps for smart phones come in. If you bank with a major national or regional bank like Bank of America, Citi, Chase or Wells Fargo, odds are that you can get quick information about your accounts—or even make payments—straight from a smart phone.

Bank of America's app for the iPhone, Android, and Blackberry, for example, lets you get balance information, transfer money between accounts, schedule automatic transfers, and make electronic bill payments. It also includes an ATM finder so you can find places to collect cash while you're out and about. 

Some banks go even further. For example, USAA's mobile app for the iPhone even lets you deposit checks by taking a photo of the check. There's a loan calculator to help estimate payments when you're out shopping for a car or home. 

And even if your bank doesn't have an app, many banks offer other sorts of mobile services. For example, M&T Bank offers alerts and banking features via text message. You can check your balances and your last five transactions by sending text messages to the bank, and you can also get text and e-mail alerts sent to your phone with information about account activity.

There are some things you should take into account, obviously, if you're using a mobile banking app on your phone:

• Password-protect your phone.  Most of these apps require you to enter a PIN code to get access to your account information, but you'll want to have an extra layer of protection in case your phone gets separated from you.
• Keep track of what you do electronically in your checkbook—just in case you need to check numbers again and you're someplace without signal or your battery is dead.
• Be careful about "shoulder surfers".  Someone watching over your shoulder could sneak a peek at your financial information—and possibly your PIN code as well—if you're checking information in a public place.