Mobile Banking Gains in Popularity, ABA Finds
WASHINGTON -- Mobile banking -- using a tablet, Blackberry, personal digital assistant (PDA) or cell phone to manage one’s bank accounts -- is gaining momentum although Americans still prefer the Internet, the American Bankers Association said Wednesday.
Use of mobile devices has grown to 10% today from 8% in 2013, the ABA said of the survey of 1,000 adults conducted in its behalf by Ipsos Public Affairs, an independent market research firm.
Those whose first preference is to manage their accounts online with a laptop or personal computer remained a plurality, 31% today compared to 39% last year.
This is the sixth consecutive year online banking remained the most popular venue. Online banking became the most popular venue in 2009 when 25% ranked it first. It displaced visiting a branch.
The second-most popular way to bank, visiting a branch, increased to 21% from 18% while use of ATMs rose to 14% from 11%.
Banking by phone remained the same at 7% while banking by mail dropped to 6% from 7% a year ago.
“Advances in technology have enabled banks to expand customer choices and make it easier for consumers to manage their accounts anywhere any time," said Nessa Feddis in a prepared statement. Feddis is senior vice president and deputy chief counsel for consumer protection and payments at the ABA.
While Americans may use their mobile devices or bank online more than any other venue, most use a mix of the methods banks offer.
Ipsos asked those surveyed, “Which methods do you use most often to manage your bank account(s)?”
Responses were 2014 and 2013:
- Internet (laptop or PC), 31%, 39%.
- Branches, 21%, 18%.
- ATMs, 14%, 11%.
- Mobile (cell phone, Blackberry, PDA, iPad), 10%, 8%.
- Telephone, 7%, 7%.
- Mail, 6%, 7%.
- Don’t know, 11%, 10%.
A sample of 1,000 consumers ages 18 and older was interviewed by phone between Aug. 7 and 12. Ipsos employed weighting to balance demographics and ensure that the composition of the sample reflects that of the universe. A survey with an unweighted probability sample of 1,000 and a 100% response rate would have a margin of error of +/- 3.1% with a 95% confidence. That is, the pollsters would duplicate their results 19 of 20 times if the population of the United States ages 18 and older had been polled.
SOURCE: American Banker Association.
Published by The Business Journal, Youngstown, Ohio.
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