ABA survey: Mobile apps remain primary vehicle for accessing banking services

For the fourth year in a row, U.S. consumers are conducting their banking via mobile apps more often than any other method, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The national survey found that consumers continue to embrace digital banking channels, with 48% of bank customers using apps on phones or other mobile devices as their top option for managing their bank account and 23% using online banking via laptop or PC the most in the past 12 months. The next most popular banking methods include visiting a branch (9%), ATMs (8%) and telephone calls (5%).

“Mobile banking use accelerated during the pandemic and has only grown in the years since as people continue to enjoy the convenience of banking on the go,” said ABA SVP Brooke Ybarra. “While digital channels are used most frequently, and people clearly appreciate having their bank as close as their mobile phone, consumers continue to have a wide array of banking options to meet their needs. For those who prefer to conduct transactions in person, branch visits remain a widely available option.”

The survey found that preferences vary among different generations. More than half of Generation Z (57%), millennials (60%) and Generation X (52%) use mobile banking apps most often, while a plurality of baby boomers most often utilize online banking (39%). One in six baby boomers (16%) visit bank branches the most often, while only 4% of Gen Z and millennials prefer to visit a branch.