Where do we bank? Wherever we want, says poll
Internet banking drops, branches make comeback in ABA 2014 survey
By Juan Rodriguez and Laura Mohammad | Published: September 18, 2014
A smaller percentage of consumers preferred Internet banking in 2014 compared to the previous year, making it the only type of banking that declined in popularity of the top five methods listed in an American Bankers Association (ABA) poll.
Internet banking has remained at the top for six years, with 31 percent of those polled preferring that method in 2014, but is down from 39 percent the previous year. In contrast, the second-ranked method, branches, increased from 18 percent to 21 percent in preference. Mobile was also up, from 8 percent to 10 percent.
The data reflect an evolution of banking to an "anytime, anywhere" proposition, said ABA Senior Vice President Nessa Feddis. "Consumers can deposit their check through a teller or interactive kiosk at a local branch, at an ATM or through an app on their mobile device. Most people use a mix of these methods."
Ipsos Public Affairs polled 1,000 U.S. adults for ABA from Aug. 7-12, 2014; the poll had a margin of error of plus or minus 3.1 percentage points.
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