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Americans’ Reliance on Mobile Banking, Short-Term Funding Climbs

More than two out of three households in the U.S. preferred digital banking in 2023. 

By Katanga Johnson | November 18, 2024 at 03:35 PM

Of American households with bank accounts — and that’s nearly all of them — a record 48.3% primarily use their mobile phones for routine banking, according to new data from the Federal Deposit Insurance Corp. Combined with those who prefer a computer or tablet, more than two out of three US households preferred digital banking in 2023. 

The FDIC reported the continued increase for mobile services in its Survey of Unbanked and Underbanked Households, a biennial measurement of how Americans use banking and financial services that is part of the agency’s goal to “expand economic inclusion.”  

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