Americans mostly happy with their FI's online, mobile experience

Almost all Americans (93 percent) rate their bank's online and mobile app experience as «excellent,» «very good,» or «good,» according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. But one in six (16 percent) would still be willing to switch banks for a better digital experience

The survey also found that 70 percent of Americans use a mobile device to manage their bank account at least once per month, and 46 percent do so more than three times per month, according to a press release.

More than one-quarter (29 percent) of U.S. adults used a mobile app to make a payment or transfer money within the past year; that number jumps to 44 percent among adults 18-34 years old. The most-used mobile payment apps included PayPal (67 percent), their bank's app (33 percent), Venmo (29 percent), Zelle (23 percent), Apple Pay (20 percent) and Starbucks (12 percent).

«As fewer people carry around cash and checkbooks, more and more consumers are turning to mobile payment apps to split a tab, send money to family or even pay their rent,» Nessa Feddis, ABA senior vice president and deputy chief counsel for consumer protection and payments, said in the press release. «This survey shows that Americans increasingly appreciate and like the innovative and personalized services banks offer. These data also reveal why bank investment in new technology is so important.»

The survey data are the latest in a series gauging consumer preferences and opinions of banks and services. Results of a prior survey highlighted consumers' preferred banking methods and revealed that Americans are not only highly satisfied with their bank, but also that they trust banks more than any other entity to keep their personal information safe and secure.

Following are selected questions and responses from the latest survey:

1) How would you rate your primary bank's online and mobile app experience?

• Excellent – 32 percent.
• Very Good – 34 percent.
• Good – 27 percent.
• Fair – 5 percent.
• Poor – 1 percent.

2) In the past month, how often have you used a mobile device (i.e., smartphone, tablet) to access and manage your bank accounts (i.e., check balances, deposits, bill payments)?

• More than 3 times – 46 percent.
• 1 to 3 times – 24 percent.
• Never – 23 percent.
• I don't own a mobile device – 3 percent.
• Don't know/no opinion – 3 percent.

3) In the past 12 months, have you used a mobile app (e.g., Apple Pay, Zelle or Venmo) to make a payment or transfer money to family or friends?

• Yes – 29 percent.
• No – 67 percent.
• Don't Know/No opinion – 4 percent.

4) Which mobile apps have you used to make a payment or transfer funds?

• PayPal – 67 percent.
• FI's app – 33 percent.
• Venmo – 29 percent.
• Zelle – 23 percent.
• Apple Pay – 20 percent.
• Starbucks – 12 percent.
• Samsung Pay – 7 percent.
• Android Pay – 6 percent.
• Other – 6 percent.
• Popmoney – 2 percent.

5) Would you change banks for a better digital experience?

• Yes – 16 percent.
• No – 58 percent.
• Don't know/No opinion – 26 percent.

6) Which digital features would you consider switching banks for?

• Bill pay – 17 percent.
• Mobile payments – 17 percent.
• Budgeting – 14 percent.
• Online loan application – 11 percent.
• Smart assistant integration – 8 percent.
• Other – 2 percent.
• none – 61 percent.

7) In the past 12 months, have you deposited a check by taking a picture of it with your mobile device?

• Yes – 46 percent.

How often per month?

• Three or more times – 15 percent.
• Twice – 22 percent.
• Once – 22 percent.
• Less than once – 40 percent.
• Don't Know/No opinion – 1 percent.

The poll was conducted by Morning Consult on behalf of the American Bankers Association, Sept.11-12, among a national sample of 2,201 adults. Interviews were conducted online and data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment and region.

Source: ATM Marketplace