Review: IPhone Apps for Canadian Banks
Just did some research recently for my blog to introduce some IPhone apps for Canadian banks. I have to say that most our major banks have noticed and responded the demand for the people want access their bank accounts through IPhone. But the qualities of the services are different.
Check my blog (http://www.ottawa-apps.com/blog), you can find those Canadian banks with IPhone apps.
I have found that seven banks in Canada have their IPhone App for their customers. They are Royal Bank Canada (RBC), Scotia Bank, Toronto Dominion Bank (TD), Bank of Montreal (BMO), ING Direct Canada, Canadian Imperial Bank of Commerce (CIBC) and Desjardins. Since I cannot provide any comments for the transaction accuracy, and I would like to trust our banks can handle it very well or at least most of them have provide "Online Security Guarantee". Here, I am going to provide a review for these apps only base on their functions.
1. Toronto Dominion Bank (TD Bank Canada)
The one for TD Bank is the most polished IPhone App for Canadian Banks. It is a full functional mobile application, and you can do what ever it is available through the TD Bank web site. Four major modules include,
TD Canada Trust: Access your consolidated chequing, savings, credit and investment account; pay bills and transfer money anytime, anywhere TD Waterhouse: Monitor your investments by checking account balances, list orders, holdings and activities. Even to get the real-time quotes for stocks, ETFs and mutual funds. TD Insurance: Accident Toolkit and insurance notepad will assist you when ever you need Branch Locator: list the nearest branch, ATM, TD Waterhouse Investor Centers in both Canada and U.S.It also supports log in with multiple Access Card, WebBroker Connect ID, send and receive Interact Email Money Transfers.
Current Version: 2.1.3
Updated: Apr 28, 2011
2. Royal Bank Canada (RBC)
The biggest bank in Canada offers view account details, transfer funds, pay bills, interac email transfer and branch/ATM locator to its customers. The app runs pretty stable in IPhone, but customers also want that they can deal with their investments and insurances like the app from the TD bank.
After a recently update, the RBC app new can pay bills and transfer funds using US Dollar Banking Accounts, log in with nicknamed username/client cards and it support Retina display for IPhone 4.
Current Version: 1.2
Updated: Apr 28, 2011
3. ING Direct Canada
In my opinion the Internationale Nederlanden Groep (ING) does always provide excellent service to its customers. They do not have many branches as other banks, but they are really good doing the online banking. And I believe there are sufficient evidences they have brought their experience from online banking to the mobile apps. From ING's web site, you can find they support most of major smartphone devices, Android, IPhone, Windows Phone 7, Blackberry, iPad, Playbook and mobile site access.
With the IPhone the customer of ING can check balances, review transactions, transfer funds, email money, pay a bill, buy & sell the Streetwise Funds and refer a friend.
Current Version: 2.0
Updated: Sept 16, 2010
4. Canadian Imperial Bank of Commerce (CIBC)
As the first bank released its IPhone app in Canada, CIBC gives its customers availabilities to check balance, review transactions, make transfer, pay bills and a Google map enhanced branch/ATM locator. There's a big complain from user reviews, which is this app does not support PC Financial customers. Most PCF clients who have an IPhone cannot really accept that they are been treated differently, since PCF is a division of CIBC and it has the same bank number as the former.
Current Version: 3.0
Updated: Mar 27, 2011
5. The Bank of Nova Scotia (Scotia Bank)
In my opinion, the Scotia Bank provides very good services for its online banking. That's why I am little bit disappointed that the app from Scotia Bank does not have functions as many as TD Bank's. It only offers very standard functions, like check account balance, pay bills, transfer fund, email money and branch locator. A small highlight here is, it supports Retina display.
Current Version: 3.0
Updated: Mar 14, 2011
6. Bank of Montreal (BMO)
Check balances, review transactions, transfer funds and locate the branches. That's it. No email transfer, even no bill payment, that's one of major bank in Canada provides to its customer who has an IPhone.
The reviews in iTune are bad and BMO even want IPhone users to look a tour build with Adobe Flash. What I can say, BMO really need work harder!
Current Version: 1.0
Updated: Apr 12, 2011
7. Desjardins
Personally, I never like Desjardins online banking. The structure, layout and especially I can only review transactions in last 60 days, when I last time use their online services in about early 2010. I gave two stars for Desjardins' IPhone app, it at least it has bill payment and insurance quoting. I have to say it is better than the BMO one.
Besides that, I cannot find the Online/Mobile Security Guarantee statement, so please check with them by yourself to make sure your mobile transactions are well protected.
Current Version: 1.2
Updated: Dec 17, 2010
*Following is an example for Online Security Guarantee. You can find all six banks have a similar statement on their web site easily, except Desjardins.
As of TD Bank have statement on both its web site and Apple's iTune said "In the unlikely event you experience a loss from a TD mobile transaction you did not authorize, you will receive 100% reimbursement. We take the greatest case to ensure that any new advance to our mobile app maintains the same security and integrity of all our services."
Summary, a good IPhone/Smartphone Banking App shall provide as many as possible functions as Online Banking. It shall be stable, reliable and easy to use.
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