More U.S. Consumers Bank On The Go, Even on Dates
June 23 2015 - 9:00AM
Business Wire
Consumers increasingly handle finances
everywhere and anywhere, Chase survey shows
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 phone and online more than a
year ago -- and many are doing it at work, at the store or even
while on a date.
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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.
Millennials GenXers
Boomers Used a bank’s mobile app
67% 55% 33% Used a
bank’s website or online portal 78
75 67 Used the mobile app to
transfer money 26 19
8 Used the mobile app to pay a friend or
family 21 12
5
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.
The survey was commissioned in conjunction with Chase’s newly
launched Mastery campaign, featuring Serena Williams, Nick Cannon,
Tim Morehouse, Joel Silverman, The Rockettes, and world-renowned
tango dancers Miriam Larici and Leonardo Barrinuevo. While they’ve
spent years mastering their crafts, they mastered Chase’s digital
banking in a flash.
Chase offers its digital services in English and Spanish. For
more information in English, visit chase.com/wayyoubank. For more
information in Spanish, visit chase.com/DominaTusFinanzas.
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.
About Chase
Chase is the U.S. consumer and commercial banking business of
JPMorgan Chase & Co. (NYSE: JPM), a leading global financial
services firm with assets of $2.6 trillion and operations
worldwide. Chase serves nearly half of America’s households with a
broad range of financial services, including personal banking,
credit cards, mortgages, auto financing, investment advice, small
business loans and payment processing. Customers can choose how and
where they want to bank: More than 5,500 branches, 18,000 ATMs,
mobile, online and by phone. For more information, go to
Chase.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150623005382/en/
Media:ChaseMichael Fusco, (212)
270-5089michael.f.fusco@jpmchase.com
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