I use 5 different banking apps and 3 other financial/investment apps and they all work fine, you should check compatibility with yours [1]. And to be precise, contactless payments work but not through Google Pay - I've heard that Curve is a viable alternative, and some banks might have their own systems that aren't based on Google Pay (though most seem to be).

[1] https://privsec.dev/posts/android/banking-applications-compa...