Popularity of mobile banking in the US surpasses mail and landline

A survey has revealed that the popularity of mobile banking has surpassed both mail and landline, rising by 2% to become the favourite method of 8% of Americans.

A survey has revealed that the popularity of mobile banking has surpassed both mail and landline, rising by 2% to become the favourite method of 8% of Americans.

The survey, by the American Banking Association, asked 1000 adults in the US which method of banking they used most often.

Online banking remained the most popular method for the fifth year running, with 39% using internet banking the most, a figure unchanged since 2012.

The percentage of branch-frequenting customers was also unchanged at 18%.

Nessa Feddis, ABA SVP and deputy chief counsel for consumer protection and payments, said: "Digital and mobile banking is increasingly popular with today’s consumers who want account management tools at their fingertips.

"As consumer banking preferences evolve, banks remain committed to offering a variety of choices that meet the needs of all customers."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Retail Banker International.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Americans who thought they used ATMs the most fell 1% from 2012, as did those who used mail, falling to 11% and 7% respectively.

Those who banked by traditional telephone fell by 2% to 7%, the biggest decline, whereas those who did not know which method they used rose by 3% to 11%, the biggest rise.

Feddis said: "It’s not surprising that branches remain the second most popular option.

"Many people prefer sitting down with someone to discuss complex transactions like opening an account or applying for a home or business loan."

Related articles:

Branch beats mobile for US consumers in BBVA banking report

Mobile banking use rises in US – FRB

Mobile banking apps fail to meet consumer expectations – Varolii US