Mobile banking is preferred by 12 percent of consumers, a fourfold increase from five years ago and up two points from last year, according to an Ipsos Public Affairs survey conducted for ABA. Online banking is still the most preferred banking method, however, with nearly one-third of respondents saying they prefer to bank online — marking the seventh consecutive year that consumers have named the Internet as the most popular way to bank.
“Mobile banking’s popularity will continue to grow as banks enhance their mobile functionality and make it easier for consumers to access their accounts anytime and anywhere,” said ABA SVP Nessa Feddis. “As consumers spend more time on their mobile devices, it’s likely that more people will adopt mobile banking as their top choice going forward.”
The survey, conducted July 8-13, found that the number of people who preferred visiting a branch fell four points to 17 percent, though branch banking remained the second most popular banking method behind the Internet. ATMs were preferred by 13 percent, down one point since 2014.