Digital banking technology keeps making it much easier for U.S. consumers to manage their finances on the go. So easy, in fact, that a third of them bank on their phones and online more than they did a year ago — and many are doing it at work, at the store or even while on dates.
According to, "More U.S. Consumers Bank On The Go, Even on Dates," the Chase survey found:
- More than half (54%) use their mobile banking app at work. One in 10 checked it during a client meeting.
- Many use it at a restaurant (39%), in a check-out line at a store (38%) and during a date (17%) — likely to ensure there's enough to avoid an embarrassing situation.
- They're also checking it during coffee or smoking breaks (37%), commuting (28%) and waiting to pick up a child from school (24%).
"This survey tells us what our customers have shown us over the last two years," said Barry Sommers, CEO of Chase Consumer Banking. "They love the ease of handling their routine banking online, on their phone and at an ATM."
More consumers are using their mobile app (33%) or banking online (35%) than last year while only 16% are stopping by branches more often.
Overall, more of the 1,500 adults Chase surveyed are using a bank's website or online portal (70%) than using a bank's app on a mobile phone or tablet (47%).
Millennials know there's an app for that
Millennials are all about digital — especially the mobile app — signaling the future of banking.
Hispanics are doing more with digital
Hispanic consumers turn to banking technology at a higher rate than others. Nearly half are using banking apps (45%) and a bank's website (48%) more than a year ago.
They are also using their banking app on the go more than the rest of the population.
- 64% use it while at work
- 49% use it in a check-out line at a store
- 47% use it at a restaurant.
ATMs aren't just for cash anymore
As ATMs get smarter, the survey found that Americans recognize the numerous capabilities of ATMs:
- Viewing account balances and transactions (70%)
- Transferring money from one account to another (46%) and
- Depositing checks (64%).
One third (33%) of Millennials are using their bank's ATMs now more than a year ago, compared to 16% of GenXers and 10% of Boomers.
About the Survey
Chase commissioned a telephone survey conducted by independent research firm Braun Research among a nationally representative sample of 1,502 U.S. Americans aged 18 or older. This survey was conducted from May 19 through 25, 2015, with a +/- 2.53 percent margin of error.
AudienceSCAN research finds that 58% of U.S. consumers used browsers, tablets or smartphones to conduct online banking in the past 30 days. Did you know Online Bankers are 27% more likely than average consumers to be frequent flyer program members? They could be checking their balances to book their next flights. You know they're checking their balances regularly, so your advertisers might find it helpful to promote purchases this audience intends to buy anyway. Here are a few items: New tires (19%), Cosmetics (28%), Vitamins (37%) and Museum tickets (26%).
AudienceSCAN data is available as part of a subscription to AdMall for Agencies. Media companies can access AudienceSCAN data through the Audience Intelligence Reports inåÊAdMall.