National Survey: Record Number of Bank Customers Use Mobile Apps More Than Any Other Channel to Manage Their Accounts

WASHINGTON -

More than half of 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 55% of bank customers using apps on phones or other mobile devices as their top option for managing their bank account and 22% using online banking via laptop or PC the most in the past 12 months. The next most popular banking methods include visiting a branch (8%), ATMs (5%) and telephone calls (4%). The percentage of mobile app users is the highest since ABA and Morning Consult first started conducting this survey in 2017.

A breakdown of age demographics shows preferences vary among different generations. About two-thirds of Generation Z (64%) and Millennials (68%) use mobile banking apps most often, while more than half of Generation X (55%) do so. Nearly half of Baby Boomers (41%) most often utilize online banking via laptop or PC to manage their accounts. When it comes to branches, nearly 1 in 7 Baby Boomers (13%) visit bank branches the most often, while only 4% of Gen Z and Millennials prefer to visit a branch. [See infographic for a full breakdown of top banking preferences by age].

"While the pandemic greatly accelerated mobile banking adoption, America's banks have sustained - and even increased - this growth by investing in innovative technologies that make banking on-the-go as seamless and secure as ever before," said Brooke Ybarra, ABA's senior vice president of innovation strategy. "Customers can deposit a check remotely, split a dinner bill with a friend instantaneously, and track their spending and saving patterns with ease on their mobile device. With most Americans using a mobile device every day, digital banking options have helped bring unbanked households into the banking system, connecting them with all of the benefits that come with a bank account."

Consumers Highly Satisfied with Digital Banking Channels

The survey also found that consumers are highly satisfied with their bank's digital banking channels - 96% of consumers rate their bank's online and mobile app experience as "excellent," "very good," or "good." When considering the growth of digital and online tools as well as traditional branches and ATMs, 94% of respondents also characterized their overall access to banking services today as "excellent," "very good" or "good." In addition, 83% of respondents said innovation and technological improvements by banks are making it easier for all Americans to access financial services, an acknowledgment of the role technology is playing in promoting financial inclusion.

ABA released an accompanying infographic highlighting the survey results. The data released today are the latest in a series of results gauging U.S. consumers' preferences and opinions regarding banks and their services. ABA recently released additional survey data on major policy issues such as the accountability of federal credit unions and credit card rewards, debit interchange fees paid by retailers, overdraft protection and cannabis banking, as well as data revealing that Americans are happy with their bank and the options available to them, view banks as a source of strength for the economy, and trust banks most to protect them from fraud. The full results for today's survey questions are as follows:

When asked "In the past year, which method did you use most often to manage your bank account(s)?" consumers responded as follows:

• Mobile (apps on smartphone or tablet) - 55%
• Internet/Online (Laptop or PC) - 22%
• Branches - 8%
• ATM - 5%
• Telephone (calls to your bank) - 4%
• Mail - 1%
• Don't Know/no opinion - 4%

Age breakdown:

• Gen Z (1997-2012)
  • Mobile - 64%
  • Online - 8%
  • ATM - 6%
  • Telephone - 5%
  • Branches - 4%
  • Mail - 4%

• Millennials (1981-1996)
  • Mobile - 68%
  • Online - 12%
  • ATM - 7%
  • Branches - 4%
  • Telephone - 4%
  • Mail - 1%

• Gen X (1965-1980)
  • Mobile - 55%
  • Online - 24%
  • Branches - 8%
  • ATM - 5%
  • Telephone - 3%
  • Mail - 1%

• Baby Boomers (1946-1964)
  • Online - 41%
  • Mobile - 35%
  • Branches - 13%
  • Telephone - 5%
  • ATM - 4%
  • Mail - 1%

When asked "On a scale of 1-5, where "5" is excellent and "1" is poor, how would you rate your primary bank's online and mobile app experience?" respondents who have a bank account provided the following responses:

• Excellent - 42%
• Very Good - 34%
• Good - 20%
• Fair - 3%
• Poor - 1%

When asked "Given the growth of digital and online tools as well as traditional branches and ATMs, how would you characterize your overall access to banking services today?" respondents who have a bank account provided the following responses:

• Excellent - 41%
• Very Good - 36%
• Good - 17%
• Poor - 1%
• Don't know/No opinion - 5%

When asked "Do you agree or disagree with the following statement? Innovation and technology improvements by banks are making it easier for all Americans to have access to financial services" consumers provided the following responses:

• Strongly agree - 44%
• Somewhat agree - 39%
• Somewhat disagree - 4%
• Strongly disagree - 1%
• Don't know/no opinion - 11%

About the Survey

This poll was conducted by Morning Consult on behalf of the American Bankers Association from October 7-10, 2024, among a national sample of 4,508 adults split into two representative groups for specific question sets (Split Sample A n=2,266 | Split Sample B n=2,020). The interviews were conducted online and the data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment, and region. Results from the full survey have a margin of error of plus or minus 1 to 2 percentage points.

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About the American Bankers Association

The American Bankers Association is the voice of the nation's $23.9 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $18.8 trillion in deposits and extend $12.5 trillion in loans.

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