New York – The financial world is evolving rapidly, and with it, the tools we rely on to manage money. The seventh annual Smart Money Awards have arrived, recognizing the most innovative and reliable financial apps, services, and institutions of 2025. From everyday banking to advanced wealth management, this year’s winners showcase how technology and customer-first strategies are reshaping financial well-being.
In banking, Bread Financial earned the crown for Best High-Yield Savings Account, offering rates nearly ten times that of conventional banks. Its simplicity and zero fees make it a standout choice for savers. SoFi retained its title for Best No-Fee Checking, praised for its accessibility, broad ATM network, and linked high-yield savings features. Meanwhile, Ally continued its reign as Best Online Bank, consistently impressing users with ease of use and competitive rates.
The awards also spotlighted legacy names adapting to modern needs. American Express was recognized for its Certificates of Deposit, providing customers a straightforward way to lock in competitive returns. On the healthcare front, Fidelity won Best Health Savings Account, offering investment-ready options with no minimums, solidifying its place as a leader in practical, customer-centric financial tools.
Budgeting saw two familiar champions. Goodbudget claimed Best Free Budgeting App by reimagining the envelope method in digital form, ideal for hands-on money trackers. For those seeking a more structured and data-driven approach, YNAB (You Need A Budget) remained the premium choice, equipping users to eliminate debt and align spending with goals. To round out the category, Rakuten excelled as Best Way to Save While Shopping, helping consumers earn cash back across thousands of online retailers.
Credit cards continue to be a battleground of benefits. Citi Strata debuted strongly, winning Best Customizable Credit Card for its flexibility across lifestyle categories. Capital One Savor remained the go-to for dining and groceries, while Chase Sapphire stood out as the premier choice for frequent travelers, offering everything from robust points programs to airport lounge access. For household spending, Amazon Prime Visa dominated with its high returns on everyday purchases.
Investing services were equally competitive. Betterment earned recognition as the best starting point for new investors, while Wealthfront emerged as the favorite for seasoned market participants, combining diversified portfolios with the ability to add ETFs and stocks. For brokerage services, J.P. Morgan Self-Directed Investing set the standard with user-friendly integration and comprehensive tools, while Raymond James was acknowledged for its in-person wealth management expertise. iShares was also recognized as the leading ETF provider, reflecting its vast global offerings and cost-effective fund structures.
In the miscellaneous category, Venmo once again proved indispensable for peer-to-peer payments, while Ladder impressed with its simple, affordable term life insurance. H&R Block earned high marks for its accessible tax preparation services, combining affordability with human expertise. The spotlight also shone on Investor.gov for investor protection resources, and Investopedia was praised as the most comprehensive financial literacy platform available.
Taken together, the Smart Money Awards 2025 illustrate a financial services landscape increasingly defined by innovation, accessibility, and trust. These winners are not only shaping consumer behavior but also setting the benchmarks for the industry at large. For professionals and households alike, they represent the tools best suited to navigate an era where financial empowerment is more essential than ever.
