Winning Financial Apps and Services

We worked with the brilliant minds at Investopedia to study hundreds of options, analyze thousands of data points, and crunch so, so many numbers to name this year’s Smart Money Award winners. They’ll help you get more bang for your hard-earned bucks. The data says so!

Banking

Best High-Yield Savings Account

Popular Direct

Fee: None

Now is not the time to let your emergency fund earn a measly 1% (or less!). “High-yield savings accounts have been paying rates we haven’t seen in years, and you can earn a significant return on the money you stash away if you pick the right account,” says Sabrina Karl, an Investopedia staff writer who specializes in financial products and services. Interest rates change all the time, so Karl and her colleagues looked at the banks and credit unions with the top annual percentage yields (APYs) between March 2023 and March 2024. Popular Direct appeared in the rankings every single week. Popular Direct also scored points for having an opening deposit minimum of just $100 and no minimum balance requirement.

Best Short-Term CD

CIBC Agility

Fee: None

Putting away cash for a dream vacay or new car? Consider parking your money in a certificate of deposit, Karl advises. “CDs provide an excellent opportunity to earn a predictable interest payment every month,” she says. Unlike with a savings account, your rates are locked in for the length of the term. CIBC Agility wins for short-term investing (less than 12 months) because it has consistently earned a spot on the monthly rankings of institutions with top nationwide rates. (Over the period Investopedia looked at, its APY for short-term accounts ranged from 5.02% to 5.66%.)

Best Long-Term CD

Prime Alliance Bank

Fee: None

If you have very big goals—like a down payment on a home— go for a term of 12 months or more. Prime Alliance Bank is your best bet in this case. Yielding between 4.75% and 5.5% on long-term accounts, it also made the top monthly rankings in a one-year span. You’re generally charged a fee if you cash out a CD early, Karl says, which may be a good thing: It can help you avoid the temptation of spending your savings. “In the case of a true emergency, CIBC Agility and Prime Alliance have lower penalties for withdrawing early,” Karl adds.

Best Online Bank

Ally

Fee: None

Brendan Harkness, a senior editor at Investopedia, and his team studied 19 online banks and chose Ally as the best overall. “Though you don’t get in-person customer service, online banks like Ally tend to offer accounts with lower fees, better rates, and lower deposit requirements than traditional brick-and-mortar banks,” he explains. Ally’s checking and savings accounts often boast APYs well above the market averages. The app and website are easy to use, with fun features that can help you budget. (The Surprise Savings tool, for example, analyzes your spending habits, identifies your normal purchases, and transfers money it deems “safe”—meaning you likely won’t spend it—into your savings account.) Ally also offers a wide range of services you don’t always find at online banks, including individual retirement accounts (IRAs), trading, mortgage loans, mortgage refinancing, and auto loans. And there are no annoying monthly maintenance fees or minimum balance requirements to earn interest.

Best Free Checking Account

SoFi

Fee: None

“Having a free checking account, with no monthly fee means you never have to worry about meeting monthly requirements,” Harkness says. SoFi also doesn’t charge overdraft fees, and you can access a large network of no-fee ATMs. You have to sign up for a savings account along with checking, but you can benefit from good interest rates. Even better: You could earn a bonus of either $50 or $300 just for setting up direct deposit, depending on the amount you transfer into your account. Hey, that’s free money for you!

Best App for Sending Money

Wise

Fee: Varies

Zipping money to loved ones—even those in other countries—is simple using Wise. The service is free when you transfer the same currency to another Wise user. With international transfers, there are no hefty fees, long delays, or markups on exchange rates. For each transfer, you’re charged based on the type of currency being converted, your payment method, and the total amount. Recipients typically get funds within a few minutes to a couple of days, depending on their location. “If you send or receive money internationally, you’ll want an app like Wise, which is inexpensive with no hidden fees,” Harkness says. “It serves 150 countries and has excellent app store ratings.”

Budgeting

Best Budgeting App

YNAB

Fee: $99 a year

How much do you spend on groceries each month? What about gas and tolls? Not sure? Then consider downloading YNAB, which stands for You Need a Budget. To set up the app, you give every incoming dollar a job—pay bills, buy groceries, build a nest egg, etc. Then you link your banking and credit card accounts or enter expenses manually to see how you’re actually spending your money. The app requires you to be hands-on with your budgeting, but that’s the idea. “YNAB helps you identify areas where you tend to spend more than you think,” Harkness says. “You may be surprised at how much you can save just by becoming more aware of where your money is going.” New budgeters can sign up for a 34-day free trial.

Best Coupon App

Capital One Shopping

Fee: None

Whether you’re shopping through the app, your smart phone browser, or your computer, Capital One Shopping is like having your best bargain-hunting friend with you at all times, says Hilarey Gould, senior editorial director at Investopedia. It automatically compares pricing on eligible items at more than 30,000 retailers, and it even considers shipping costs and membership rates. Let’s say you’re eyeing a particular vacuum online. The extension will comb the internet and gather links to listings with cheaper prices. The results appear near the price on the page you’re viewing, so you can’t miss them. Enjoy that new vacuum!

Credit Cards

Best Overall Credit Card

Wells Fargo Active Cash Card

Fee: None

If you balk at the idea of paying an annual fee or having to track (and activate!) rewards categories each quarter, we get it. “The best rewards card is one that works with your lifestyle, not one you have to jump through hoops to squeeze value from,” says Sienna Wrenn, a senior editor and credit card expert at Investopedia. “The Active Cash Card ensures you earn rewards on every purchase—not just some.” You’ll get 2% cash back on each transaction, which you can apply toward your credit card balance or another Wells Fargo account (like your mortgage) or redeem as a cash withdrawal at a Wells Fargo ATM.

Best Card for Premium Travel Perks

Chase Sapphire Reserve

Fee: $550 a year

Once you overcome the sticker shock, it’s easy to see why it pays to pony up for this card. Chase often offers robust welcome offers for new cardholders. For instance, at press time, you get 60,000 points after spending $4,000 in the first three months, which translates to roughly $900 in vacation expenses if you book through the Chase Travel portal. Then there’s the $100 credit for TSA PreCheck or Global Entry, the $300 yearly credit for travel-related purchases, and the access to more than 1,300 airport lounges. Even if you don’t nab a sign-up bonus, you could still make more than half your money back with the perks alone.

Not to mention, hotel and car rentals earn 10 points per dollar, and restaurant tabs earn three points per dollar. “It’s the extra perks that make luxe travel cards like this one worth their annual cost,” Wrenn says.

Best Card for Budget-Conscious Travelers

Capital One Venture Rewards Credit Card

Fee: $95 a year

“Some travel rewards cards are better for lavish, overseas adventurers, while others are better suited for occasional domestic travelers,” Wrenn says. “The Venture Rewards card offers value for both.” You’ll get two miles per dollar spent on every purchase (not just travel), plus some extra miles if you use the card to make travel reservations through the Capital One portal. There’s no limit to how many rewards you can earn, which is pretty rare, and you can redeem your rewards for flights and hotels or get reimbursed for ride-sharing fees. “Jet-setters will love the TSA Pre Check or Global Entry application credit, a perk more commonly seen on premium travel cards with much higher annual fees,” Wrenn says.

Best Card for Dining Out

Capital One SavorOne Cash Rewards Credit Card

Fee: None

Meet your new plus-one for dinner dates! This card gets you 3% cash back at restaurants (and grocery stores if you’re staying in). Ditto for popular streaming services and certain events, like concert tickets purchased through the Capital One portal. All other purchases earn 1% cash back. As with most Capital One cards, you won’t be charged a fee for using it outside the U.S., mak- ing it a good pick for international travelers. Also: “You can redeem rewards without waiting until you earn a specific amount, which is a requirement of similar cards on the market,” Wrenn says.

Best Card for Household Expenses

Blue Cash Preferred Card from American Express

Fee: None for the first year; $95 after

This card gives you a heaping 6% cash back on grocery store hauls (up to $6,000 per year and offers a competitive 3% cash back on gas. “Everyday purchases can really add up, but a rewards card like this one can help soften the impact on your wallet,” Wrenn says. “It can even be a tool to save on gym memberships, streaming services, or commuting costs if you match your spending habits with its wide array of perks.” Paired with American Express’s top-tier customer service reputation, this is a clear winner for people who want to save on daily necessities.

Insurance

Best Life Insurance Provider

Nationwide

Fee: Varies by plan

After researching 88 life insurance companies, our friends at Investopedia confidently recommend Nationwide. The provider offers living benefits (meaning you can access money from your plan under certain circumstances), and healthy applicants can get plans that don’t require medical exams. Most importantly, the company is financially stable, a factor that’s often overlooked. “An excellent financial strength rating should be table stakes when you’re choosing a provider,” says Yasmin Ghahremani, associate editorial director at Investopedia. “You’ll be tied to that company for decades, and you want to make sure it’ll be in business long enough to pay your beneficiaries what they’re owed.”

Best Health Insurance Provider

Blue Cross Blue Shield

Fee: Varies by plan

You’ve got to consider more than just the price tag. “Don’t be swayed by low premiums when shopping for health insurance,” Ghahremani says. “They’re usually balanced out by higher deductibles and copays.” The Investopedia team evaluated nine major health insurers against 40 criteria, including customer satisfaction, premiums, deductibles, copays, and mental health coverage. Blue Cross Blue Shield scored the highest marks. It’s a good value given the services provided—particularly for those who don’t qualify for Medicare just yet.

Best Health Savings Account

Fidelity

Fee: None

Signing up for a health savings account (HSA) when you have a high-deductible insurance plan is a no-brainer. (A quick explainer: You load it up with pre-tax dollars, earn interest, and use the money to pay for medical expenses.) That said, researching HSAs can make your head hurt. Save yourself the pain and look into Fidelity. It tends to offer the best interest rates, there are no fees, and it has a nice array of investment choices. Plus, you can invest your balance right away. “That’s rare, and it means you have more time for your money to grow,” Ghahremani says. No need for that ibuprofen today!

Investing

Best Online Broker

Fidelity

Fee: None for many transactions

Fidelity is everything you want in a brokerage firm, says Michael Sacchitello, a senior editor at Investopedia who focuses on investing and trading platforms. “One of the most trusted online trading platforms, Fidelity has long been an industry leader when it comes to lower fees, and its transparent and compelling fee schedule is a key reason its brokerage platform maintains its position at the top of our rankings,” he says, adding that he and his team weighed 89 criteria points to pick this winner. Fidelity also shines for excellent customer service; expansive products, including stocks, exchange-traded funds (ETFs), mutual funds, and crypto.

Best Investing & Trading App

E*Trade

Fee: None for many transactions

If you can’t remember the last time you managed your finances on a real computer, you know the importance of a mobile investing app that’s easy to use. E*Trade, according to Sacchitello, has the right mix of intuitive navigation, robust capabilities, and trading tools that cater to investors of various levels. In fact, it has two easy-to-navigate platforms, E*Trade and Power E*Trade. Through the first, you can easily manage your accounts and get real-time quotes. The Power platform offers more in-depth research and analysis, which helps you learn. For instance, you can read about why a particular stock’s price recently went up or down.

Largest ETF Issuer

iShares

Fee: Varies

Sometimes bigger really is better. That’s true in this case. At press time, iShares had the most assets under management ($2.88 trillion) and 439 ETFs to offer. That means more variety, which means more ways to invest, as well as more funds with lower expense ratios (read: the portion of your money that goes toward operating expenses). “Investors who use ETFs want three things: trustworthiness, liquidity, and choice, and iShares has all three and more,” says Caleb Silver, Investopedia’s editor in chief.

Best Robo-Adviser

Wealthfront

Fee: 0.25% A year for most accounts; no trading commission or fees for withdrawals or transfers

Programmed to answer up to 10,000 questions, Wealthfront’s digital financial planner, called Path, is the closest you’ll get to a real human, says Sacchitello, who evaluated 21 options based on 59 criteria points. Yes, you can ask it specific questions! And yes, you’ll get answers! You can also enter your financial goals and get recommendations for accounts that will help you reach them. You can see your projected net worth over time (the algorithm accounts for inflation and market performance), and you get a custom meal plan. Just kidding about that last part!

Home & Life Resources

Best Personal or Home Improvement Loan

SoFi

Fee: Varies

SoFi wins out among the 70 lenders evaluated, says Lars Peterson, a senior editor at Investopedia who specializes in financial products and ser- vices. “You may find a lender that offers lower interest rates, but not one that can match SoFi’s winning combination of competitive rates, minimal fees, quick approval, and excellent customer service.” Loan amounts range from $5,000 to $100,000, which covers debt consolidation and home improvements, the two likeliest reasons for getting a loan, according to an Investopedia survey. While fees vary, you’ll typically pay less if you have a credit score that’s good or excellent.

Best Home-Buying App

Zillow

Fee: None

Zillow simplifies the exhausting house-hunting process. It has a ginormous database of more than 160 million homes, but it also has detailed filters that help you narrow your search to exactly what you want (think: senior communities, pre-foreclosures that haven’t hit the market, homes with views of the city skyline, etc.). You can even scout prospective real estate agents within the app. And additional features are always coming out to adapt to the ever-changing housing market. “It wouldn’t surprise me if Zillow added even more services that used to be offered by agents, like title company referrals, to go with the home-browsing and shopping tools they already provide,” Peterson says.

Best Tax Preparation

H&R Block

Fee: From $89

Less than 100 bucks for professional tax help? Yep! Yay for more time doing what you love and less time googling obscure tax rules. H&R Block offers in-person support, a handy drop-off service, and a newish virtual experience, all starting at $89. “You can connect with a tax prep pro right from your phone or laptop,” Peterson says. Just download the app, upload your forms, and get the full in-office experience without leaving your home.