The Best Free Finance Apps – Test & Comparison

Best finance apps

There are now many useful financial apps for smartphones that help you keep track of your finances. Be it accounting apps that give you an overview of your income and expenses, online broker apps to invest on the go or cashback apps that help you save money.

The following is a listing and comparison of the best, or at least most useful, free smartphone apps in finance that everyone should have tried. All apps I use myself or have used in the past, so the ratings are subjective experiences I’ve had over time.

All the apps listed have something to do with finance (investing and saving money) or banking in some way. Included are apps for investing in stocks, P2P loans or cryptocurrencies, but also accounting and cashback apps.

Of course, this list is not complete and is constantly supplemented. All apps I use or have used myself. The focus is on free financial apps.

Financial Planner – Best Finance Apps

Finanzguru

4.5 / 5

The app Finanzguru is a financial planner app to keep track of your income and expenses. The app bundles many different functions. Among other things, you can use it to manage all your accounts and contracts. Based on the information you provide, Finanzguru identifies potential savings, e.g. if you are paying too much for your electricity provider or insurance, and suggests cheaper alternatives. By integrating external bank accounts, Finanzguru offers you a place where all your finances converge.

AdvantagesDisadvantages
✔ Free basic version– No Web Variant so far
✔ Bundling of many different functions No transfers possible (but at the same time advantage, as it increases security).
✔ Automatic contract recognition Cumbersome adding of manual contracts
✔ Cancellation of contracts via the app
✔ Savings tips
✔ Integration of external accounts
✔ Digital contract folder with all subscriptions and contracts
✔ Free contract alarm clock

Budget Book – Best Finance Apps

Money Manager

4.4 / 5

One of the best budget book and finance apps to clearly show your income and expenses.

AdvantagesDisadvantages
✔ Free basic version Advertising in the free version
✔ Easy handling
✔ Graphical representation of your bookings and asset development
✔ Transferring the Money Manager file to a new smartphone

Cashback/Payback – Best Finance Apps

PAYBACK App

4.3 / 5

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With the Payback app, you receive Payback points for every purchase at participating companies. For every €2 in sales you earn 1 point. 1 point corresponds to an equivalent of 1 cent. This means that if you spend €100 (e.g. for the weekly shopping), you will receive 50 points with an equivalent of €0.50. That doesn’t sound like much at first, but it adds up enormously over time. In addition, there are regular special promotions, where you get, for example, 10 times points. Then you will receive 500 points (€5) for every €100 in sales. To save money in everyday life, when shopping locally or online, there is no way around the Payback app.

AdvantagesDisadvantages
✔ Completely free of charge Not so long ago, 1 point was credited for every €1 in sales. Now it’s 1 point for every €2 in sales. To continue earning 1 point per €1 in sales, use the Amex Payback credit card.
✔ Physical Payback Card as an alternative or supplement to the app Data protection
✔ Many participating companies (including Penny, dm, REWE, Real, Telekom)
✔ Special promotions with multiple points
✔ Points can be converted directly into euros and paid out
✔ Other functions such as shopping list, sweepstakes

Analytics/Performance Tools – Best Finance Apps

Portfolio Performance

4.9 / 5

With Portfolio Performance you have a centralized overview of the performance of your entire portfolio, your asset allocation, volatility and much more. In principle, you can represent all asset classes such as stocks, ETFs, P2P loans or cryptocurrencies. Portfolio Performance was launched in 2012 by Andreas Buchen and has been continuously developed since then. The program is free and in my opinion one of the best, if not the best performance tool. The only drawback is that Portfolio Performance is so far only available as a local desktop application. A mobile app for Android and the like is not yet available. Nevertheless, the tool must not be missing in this post, because it is just too ingenious.

AdvantagesDisadvantages
✔ Free of charge No mobile app
✔ Very extensive functions
✔ Beautiful graphical representations
✔ Help in the Portfolio Performance Forum
✔ Constantly further developed

Account Providers – Best Finance Apps

N26

4.4 / 5

N26 is an online bank where you can get a free checking account including a Mastercard. You can use N26 both on your smartphone and on your PC. In particular, creating sub-accounts will help you keep an accurate track of your income and expenses. This finance app is a must-have on your smartphone.

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AdvantagesDisadvantages
✔ Free of charge, no account management fee Custody fee from €50,000 deposits (0.5% per year)
✔ Permanently free checking account No branches on site
✔ Free debit Mastercard
✔ Creation of subaccounts
✔ 3 free withdrawals in Germany per month
✔ Unlimited free withdrawals in the euro zone (outside Germany)
✔ Use as business account possible

Wise

4.5 / 5

Wise is an online account that allows you to receive and send money and make international payments. With a Wise account, you can easily send money via app on your smartphone. In particular, transferring and receiving foreign currencies is what makes the Wise account stand out. You can hold over 50 different currencies on your Wise account (multi-currency account) and exchange between currencies at any time – and always at the current exchange rate. Payments with foreign currencies are no problem with the Wise debit card, only a small fee is charged when exchanging EURO into the respective foreign currency. In any case, you will get much cheaper than changing money at a local exchange office (at bad exchange rates) or taking another credit card.

AdvantagesDisadvantages
✔ Free of charge, no account management fee Some users report referral difficulties.
✔ Permanently free checking account
✔ Free debit Mastercard
✔ Current exchange rate for currency exchange
✔ Multi-currency account
✔ One of the best travel credit cards

Credit Cards – Best Finance Apps

Amex Germany

4.5 / 5

The PAYBACK American Express card is certainly one of the best credit cards currently on the market. When you pay with it, you will receive 1 Payback point (equivalent to 1 cent) for every €2 in sales. The good thing is that this also applies to purchases at stores where you wouldn’t normally earn Payback points. On the other hand, if you buy in stores where you can use your Payback card and also pay with your Payback credit card, you will even receive €1 in sales for every 1 Payback point. If you always pay with the Payback credit card in everyday life, you can quickly save several hundred euros or dollars. You can view your transactions and accumulated points via the web version or via the Amex app.

AdvantagesDisadvantages
✔ Free credit card American Express is not accepted everywhere in Germany/Europe
✔ Collecting Payback points with all purchases Web interface of the desktop variant unclear and user-unfriendly
✔ Points are automatically transferred to your Payback account App with limited functionality
✔ Combination with Payback card (doubling of points)
✔ Clear display of your transactions in the app

Mobile Broker – Best Finance Apps

Trade Republic

4.3 / 5

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Trade Republic is an online broker designed primarily for smartphones and is currently one of the most affordable brokers on the market. You pay only €1 in third-party fees per order (securities purchase and sale) in the app. The execution of stock, ETF or crypto savings plans is even free of charge. The registration process is quick and the large selection of savings plans and ETFs, coupled with low costs, make Trade Republic especially interesting for stock market beginners with little capital.

AdvantagesDisadvantages
✔ Order commission only €1 Not all shares tradable (Swiss shares only available as ADR)
✔ Large selection of savings plans Display in app partly unclear
✔ Savings plans free of charge Web version rudimentary
✔ Cryptocurrency trading Billing documents unclear and download cumbersome
✔ Quick registration, easy handling
✔ Shares, ETF, cryptocurrencies, derivatives tradable
✔ Web version available

Crypto Exchanges – Best Finance Apps

Kraken

4.4 / 5

Kraken is a US-based cryptocurrency exchange founded in 2011. It is considered one of the most secure digital trading platforms. The Kraken app is very clearly designed and equipped with the most important functions (asset overview, buying/selling, deposit/withdrawal).

AdvantagesDisadvantages
✔ Clear and secure app Lower coin selection than e.g. Binance
✔ Low fees for cryptocurrency purchase Platform not available in German
✔ Choice of almost 150 cryptocurrencies
✔ Easy deposit and withdrawal

Binance

3.9 / 5

Binance is a trading platform founded in 2017 to trade cryptocurrencies and derivatives. With approximately $20 billion in trading volume, it is the largest cryptocurrency exchange. There are many other features and products on Binance, including coins can be staked directly through Binance, and there is also an NTF marketplace. There are currently about 500 different cryptocurrencies on Binance. In addition to the extensive web version, there is a slimmed-down app.

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AdvantagesDisadvantages
✔ Very large selection of coins (approx. 500) Problems with FIAT payout in Germany (No IBAN transfer possible)
✔ Wide range of products Only credit card payment with fee
App partly bugged
German language not available
Unclear due to many functions

Bison

4,5 / 5

Since 2019, the Bison app has enabled the uncomplicated purchase of cryptocurrencies via smartphone app. BISON is a provider from Germany, backed by the Stuttgart Stock Exchange. The Bison app is kept very clear and simple, making it particularly beginner-friendly. A very big advantage of the mobile crypto trading platform is that cryptocurrencies can actually be bought on Bison (and not just derivatives). The acquired coins can be paid out to your own wallet at any time, so that the coins really belong to you!

AdvantagesDisadvantages
✔ SEPA Bank Transfer as payment method Only SEPA Bank Transfer as payment method
✔ Very easy handling Little number of tradable cryptocurrencies.
✔ Beginner friendly
✔ Reputable German provider
✔ Crypto savings plans
✔ Fees low (0.75 %)
✔ German language (but also in English)

Crypto.com

4,6 / 5

Founded in 2016, Crypto.com is a Singapore-based crypto exchange with nearly 10 million users. NFT, cryptocurrencies and derivatives can be traded on the exchange. The crypto exchange’s own Crypto.com Coin (CRO) has become one of the most valuable cryptocurrencies. With the Crypto.com app, crypto trading is possible without any problems, there is also a web version, but the focus is on the app.

In addition, Crypto.com offers one of the most attractive credit cards on the market today, the Crypto.com credit card. The credit cards are available in 5 different variants, with all of them you benefit from high cashback rates. To get the card, you must first deposit a certain EURO amount in Crypto.com coins and stake it for at least 6 months. You will then also receive the cashback rewards credited in Crypto.com tokens.

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With the best card you will get 8% cashback and many other benefits (with €350,000 deposit). With as little as €350 deposit, you’ll get the Ruby Steel card with 2% cashback and 100% reimbursement of your Spotify costs.

Update: Since May 2022, the cashback has been lowered. You will only receive between 1% cashback (for a €350 deposit) and a maximum of 5% cashback (for a €350,000 deposit).

Personally, I primarily use credit card with Crypto.com, however, as a crypto exchange, the app is not bad either and one of the best financial apps in the sector.

AdvantagesDisadvantages
✔ Wide range of cryptocurrenciesApp partly confusing
✔ Free Crypto.com credit card with attractive cash back Cashback only in CRO
✔ High quality metal VISA card
✔ Other benefits (reimbursement Spotify, Netflix, Amazon Prime, etc.)
✔ Clearly structured app

P2P Platforms – Best Finance Apps

Bondora Go & Grow

4,8 / 5

The P2P platform Bondora has been on the market since 2009 and offers a diversified loan portfolio of over one hundred thousand individual P2P loans with its Bondora Go and Grow product. If you invest in the Bondora Go and Grow Portfolio, you will receive an annual return of 6.75%. The advantage of Bondora Go and Grow compared to other P2P providers or P2P products is the instant liquidity of your deposited capital. Your money and interest can be withdrawn at any time. In addition, Bondora Go and Grow is considered a comparatively safe P2P investment due to its broad diversification.

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The Bondora Go and Grow app gives you a quick overview of your interest income and your current account balance, for more features use the web version. You can also deposit and withdraw money via the app. As a little motivation boost, the app shows you your newly generated interest earnings every time you open it.

AdvantagesDisadvantages
✔ German language (but also in English) No real disadvantages of the app
✔ Clear app with most important functions Comparatively low return
✔ Bondora Go and Grow currently one of the best P2P products
✔ Immediate liquidity and relatively high security

Overnight/Fixed Deposit – Best Finance Apps

Weltsparen

4,5 / 5

Weltsparen is primarily an interest platform that offers its customers overnight and time deposit accounts with banks in other European countries. In addition, Weltsparen offers other financial products such as securities portfolios. In the Weltsparen app, the focus is clearly on overnight and fixed-term deposit accounts. Just a few years ago, Weltsparen was a good alternative to the German call money account, as call money and time deposits from other European countries paid comparatively high interest rates. Meanwhile (year 2022), interest rates are low throughout Europe. At Weltsparen, there is currently a maximum of 0.1% interest per year on overnight deposits and a maximum of 0.3% on fixed-term deposits for a term of 1 year. Whether it is still worth transferring money for this, everyone must know for themselves. Update: As of May 2023, interest rates on overnight and fixed-term deposits are very high again. At Weltsparen you already get more than 4% interest on one-year time deposits and more than 3% on overnight deposits! Sign up now at Weltsparen not to miss this opportunity!

AdvantagesDisadvantages
✔ Deposit protection up to €100,000 App partly a bit buggy
✔ High interest rates on overnight and fixed-term deposits
✔ Large selection of overnight and fixed-term deposit accounts
✔ Serious platform, available as both app and web version

Disclaimer: The information provided here does not constitute investment advice or a recommendation to buy. These are my generally published opinions and experiences as a private investor. I assume no liability for your investment or purchase decisions.


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