This post brought to you by BB&T. The content and opinions expressed below are that of The College Investor.
Let’s be honest – using a check register and visiting a bank on a weekly basis has become a thing of the past. Chances are you’ve got your bank’s app downloaded to your phone and it’s a big part of your everyday life.
Rather than balancing your checkbook after every transaction you log into your account and view your balance. Rather than depositing a check at your local branch each week you’ve opted for direct deposit. Rather than paying bills by check you pay everything online. Am I right?
I personally love to find new ways to streamline my life and since I like to stay on top of my personal finances at all times I’m always eager to learn about different ways to do so. That’s why I’m never above checking out a new app, especially if I think there’s a serious upside to doing so.
Today I’m taking a look at U by BB&T and sharing my thoughts.
U by BB&T Mobile Banking App Review
U is BB&T’s mobile banking app. This is one of the more advanced mobile banking apps I’ve yet to see and is capable of far more than just regular online banking.
The U app is available to anyone who has a BB&T checking or savings account. It can be downloaded to an iPhone, iPad or Android device.
Some of the main features are:
- The ability to deposit checks from your phone
- A receipt saver
- Budgeting tools
- Easy to understand spending tracker
- The ability to send money to friends and family via an email address or phone number
- The ability to view other accounts outside of BB&T and to customize your banking dashboard
This app goes beyond standard mobile banking and if you’re like me, eliminates the need for many of the other apps you’re using.
My Favorite Features
There are a lot of things I like about this app but for brevity’s sake I’m going to share my three favorite features.
“My Receipts” Section
As a person who has many side hustles and needs to keep a variety of receipts for tax purposes, I love this feature. With “My Receipts” you can take a picture of your receipt via your phone or have a merchant email a receipt to your My Receipts email address. The app will then store your receipts which makes finding them easy!
Budget Detail Section
The U by BB&T app allows you to create goals, track your spending and set a budget. Here’s what the budget dashboard looks like:
The app allows you to set fixed amounts for various budgeting categories and will track what you’ve spent so far for the month. It also shows your monthly averages so you can compare.
The app also tracks your spending in great detail and provides handy charts and graphs. Here’s a snapshot of the spending detail:
If you’re trying to get a grip on your spending these budgeting and expense tracking tools are great. Even if you’re spending is in check it’s still nice to be able to see where you’re at for the month.
Mobile Check Depositing
I don’t know why all banks don’t offer mobile deposits but it would be nice if they did! For me mobile check depositing is important. I have a family, a full time job and various side hustles.
I still receive a few checks in the mail each month and driving to a branch can be an inconvenience at this stage in my life. I’d much rather be able to deposit my check via my phone when I get them rather than having to run errands.
Using Mobile Banking
There’s a lot to consider when choosing a mobile bank. First and foremost make sure that whatever bank you choose is FDIC insured and the app is secure. After that the features you’d like and customer service you require should be taken into consideration.
If you are looking for a new mobile bank I think the U app by BB&T is one that should definitely make your list of considerations. Click this link to Learn more about U.
Do you use mobile banking? If so, what features do you look for?
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him here and here.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.