Chase Survey Finds True Love for Mobile Banking among Americans

Chase Survey Finds True Love for Mobile Banking among Americans
20.06.2016 02:15 pm

Chase Survey Finds True Love for Mobile Banking among Americans

Mobile Banking

We know Americans love their mobile phones, but more than their wedding ring?

Absolutely, according to a recent Chase survey of 1,500 adults:

  • One in three (32%) would hate to lose their cell phone, compared to 19% upset about a lost wedding ring and 20% over their birth certificate.
  • Three in four say mobile tools help them manage their lives and stay organized.
  • Half say they check their mobile banking app at work (51%) – Shhh, don’t tell the boss.
  • 35% check their banking app during a break at work.
  • 31% look between bites at a restaurant – though likely not when proposing with a diamond ring.

“We saw consumers really step up their use of digital banking tools – especially mobile apps – in the last year,” said Donna Vieira, Chief Marketing Officer of Consumer Banking at Chase. “We continue to enhance our digital banking services to let customers bank how, when and where they want.”

Consumers tap in more

Many more consumers are using technology to bank more easily than last year.

  • Mobile apps:
    • 21% more are viewing account balances
    • 20% more are paying bills
    • 8% more are transferring money
  • Online & ATM:
    • 37% more are paying bills online
    • 35% more are transferring money online
    • 17% more are visiting the ATM

Not just the Millennials

Of course, Millennials have their hands wrapped around their mobile phones. But GenXers and Boomers are becoming more aware of tools on their mobile banking app:

             
Know they can Millennials   GenXers   Boomers  
View account balances 93% up 18% 84% up 18% 

71%

 up 16%
Pay bills 85% up 20% 79% up 19% 70% up 20%
Transfer money 91% up 25% 80% up 22% 66% up 17%
             

No wallet, no problem

Nearly half said they would leave their wallet at home if a digital wallet would do the trick.

  • 48% prefer to pay using their phone vs. credit card or cash
  • 46% plan to make payments with mobile phones more in the next five years

In fact, two in five (40%) have either lost or forgotten their debit or credit card when they needed it most.

More bank for the buck

Chase continues to enhance its digital banking technology to meet customers’ needs.

  • Customers can now send and receive money in real time to customers of a growing number of banks, with the recent enhancement to Chase QuickPay.
  • Customers will be able to use their smartphone to take out cash from Chase ATMs later this year. No card needed.

Chase offers its digital services in English and Spanish. For more information in English, visit chase.com/wayyoubank. For more information in Spanish, visit chase.com/DominaTusFinanzas.

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