Online and mobile banking continue to grow in popularity and together represent the primary banking channels for two-thirds of Americans, according to a new survey conducted by Morning Consult for the American Bankers Association. Four in 10 Americans manage their bank accounts online, the survey found, while 26 percent of consumers use their mobile devices most often.
Meanwhile, 18 percent of Americans said they use bank branches most often, 7 percent said they favored ATMs, 4 percent chose phone banking and 2 percent said they bank most often by mail. The trend toward digital banking was widespread across age groups. Nearly half of younger Americans — those aged 18-29 — use mobile banking the most, and online banking was the first choice of more than half of those over 65.
“Since the first smartphone changed the world 10 years ago, banks have leveraged mobile technology to take customer account access and convenience to the next level,” said ABA SVP Nessa Feddis. “Banks are also integrating new technology in the design and functionality of their branches, which are still popular with many customers.”