ADVERTISEMENT

Infographic: Mobile banking coming up from behind

By  and 

In October 2012, more consumers did their banking the old-fashioned way (by telephone and mail) than the high-tech way (by smartphone or tablet). Now, for the first time, mobile banking has inched ahead of phone and mail in popularity, according to the American Bankers Association's annual survey of preferred banking methods.

The survey of 1,000 U.S. adults, released October 2013, found that mobile banking is now the preferred banking method of 8 percent of customers -- up from 6 percent in 2012. That 30 percent increase helped it edge out telephone calls (down to 7 percent from 9 percent in 2012) and snail mail (down to 7 percent from 8 percent in 2012) as a means of managing bank accounts.

All these methods are small pieces of the pie, however, compared with Internet banking (accessing bank accounts from a PC or laptop) and visiting a bank branch. The latter is still the preferred method for those who need assistance with more complex transactions, such as opening a new account or discussing loan options, according to the survey.

The chart below shows preferred banking methods for U.S. adults. The poll, conducted in July 2013 by Ipsos, had a margin of error of plus or minus 3.1 percentage points.

Mobile banking overtakes phone and mail

See related: Consumers prefer mobile banking to mobile payments, More infographics

To use the graphic on your site, use the following code:

 <center><a href="http://www.creditcards.com/credit-card-news/infographic-mobile-banking-coming-up-from-behind-1701.php"><img alt="CreditCards.com infographic: Mobile banking eclipses telephone and snail mail" border="0" src="http://www.creditcards.com/credit-card-news/images/infographic-mobile-eclipses-lg.jpg" /></a> </center>

Published: October 17, 2013


Join the discussion
We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company's business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.




Follow Us


Updated: 12-05-2016


Weekly newsletter
Get the latest news, advice, articles and tips delivered to your inbox. It's FREE.


ADVERTISEMENT