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Mobile banking catching ATMs, ABA study says

Published

Oct. 15, 2013

The popularity of mobile banking continues to grow, according to a recent study by the American Bankers Association. A survey of 1,000 U.S. adults revealed that while the Internet remains the most popular banking method, mobile banking has eclipsed the popularity of "snail mail" and landline, and is now preferred by 8 percent of customers, while ATMs are still the preference of 11 percent of customers.

When asked "Which method do you use most often to manage your bank account(s)?" customers responded as follows:

  • Internet: 39 percent (39 percent in 2012)
  • ATM: 11 percent (12 percent in 2012)
  • Mail: 7 percent (8 percent in 2012)
  • Branch: 18 percent (18 percent in 2012)
  • Mobile device: 8 percent (6 percent in 2012)
  • Telephone: 7 percent (9 percent in 2012)
  • Don't know: 11 percent (8 percent in 2012)

"Digital and mobile banking is increasingly popular with today's consumers who want account management tools at their fingertips," said Nessa Feddis, ABA SVP and deputy chief counsel for consumer protection and payments.  "As consumer banking preferences evolve, banks remain committed to offering a variety of choices that meet the needs of all customers."

aba channel preference graphCustomers named the Internet as their favorite way to conduct their banking business for the fifth year in a row. Thirty-nine percent of respondents said it is the method they use most often to manage their bank accounts. 

Online banking first became the most preferred banking method in 2009 with 25 percent of customers naming it as their favorite. 

Previously, visiting a branch was the most popular method, followed by ATMs. Today, though, a branch visit is the second most popular way to bank, at 18 percent, followed by the ATM, at 11 percent.

"It's not surprising that branches remain the second most popular option," said Feddis. "Many people prefer sitting down with someone to discuss complex transactions like opening an account or applying for a home or business loan."

The annual survey was conducted on behalf of ABA by Ipsos Public Affairs, an independent market research firm, July 11-17, 2013.

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