People are apparently so comfortable with mobile banking apps that they're now using them at work, during client meetings and even on dates, according to a new survey by Chase and Princeton, N.J.-based Braun Research.
Respondents in the survey of 1,502 U.S. adults said they're using mobile banking apps in a variety of places, with work being the most popular location (54%). Restaurants and checkout lines were also popular, with 39% and 38% of the respondents, respectively, saying they use mobile banking apps there. Coffee and smoking breaks (37%), commuting (28%) and waiting to pick up children from school (24%) were common as well. Notably, 17% of the respondents said they've used their mobile banking apps while on dates, and 10% said they used them while in meetings with clients.
A third of the respondents to the survey, which was conducted from May 19 to May 25, 2015, said they're banking on their phones and online more now than they were a year ago. Banking via websites or online portals appears to be the preferred method, with 70% reporting using those channels, though about half (47%) of the respondents said they're using mobile apps or tablets as well. The preference for banking via websites and online portals versus apps spanned the millennial, Gen X and baby boomer generations, the survey found.
The survey also said Hispanic consumers are more likely to use mobile banking apps on the go – 49% use them in checkout lines, 47% use them at restaurants and 64% use them at work. And nearly half of the Hispanic respondents said they are using banking apps (45%) and banking websites (48%) more now than they were a year ago, the survey noted.
ATM and branch use is staying the same or declining for most respondents, according to the survey. Only 16% of Gen Xers and 10% of baby boomers said they use their financial institution's ATMs more often now compared to a year ago, though a third of millennials said they're doing so. Only 16% of the respondents said they're going to branches more often now versus a year ago.
The survey also found that 70% of respondents use ATMs to view account balances and transactions, 64% use them to deposit checks and 46% use them to transfer money between accounts.
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