That familiar ring? It’s your mobile phone, not your wedding band
June 20 2016 - 9:00AM
Business Wire
Americans love mobile technology and digital
banking more than ever, Chase survey shows
We know Americans love their mobile phones, but more than their
wedding ring?
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A new survey from Chase reveals that
consumers are more knowledgeable and comfortable with digital
banking than ever before, conducting many of their everyday account
transactions online and with their mobile phones. (Graphic:
Business Wire)
Absolutely, according to a recent Chase survey of 1,500
adults:
- One in three (32%) would hate to lose
their cell phone, compared to 19% upset about a lost wedding ring
and 20% over their birth certificate.
- Three in four say mobile tools help
them manage their lives and stay organized.
- Half say they check their mobile
banking app at work (51%) – Shhh, don’t tell the boss.
- 35% check their banking app during a
break at work.
- 31% look between bites at a restaurant
– though likely not when proposing with a diamond ring.
“We saw consumers really step up their use of digital banking
tools – especially mobile apps – in the last year,” said Donna
Vieira, Chief Marketing Officer of Consumer Banking at Chase. “We
continue to enhance our digital banking services to let customers
bank how, when and where they want.”
Consumers tap in more
Many more consumers are using technology to bank more easily
than last year.
- Mobile apps:
- 21% more are viewing account
balances
- 20% more are paying bills
- 8% more are transferring money
- Online & ATM:
- 37% more are paying bills online
- 35% more are transferring money
online
- 17% more are visiting the ATM
Not just the Millennials
Of course, Millennials have their hands wrapped around their
mobile phones. But GenXers and Boomers are becoming more aware of
tools on their mobile banking app:
Know they can
Millennials
GenXers
Boomers View account balances 93%
up 18% 84% up 18%
71%
up 16% Pay bills 85% up 20% 79%
up 19% 70% up 20% Transfer money 91% up
25% 80% up 22% 66% up 17%
No wallet, no problem
Nearly half said they would leave their wallet at home if a
digital wallet would do the trick.
- 48% prefer to pay using their phone vs.
credit card or cash
- 46% plan to make payments with mobile
phones more in the next five years
In fact, two in five (40%) have either lost or forgotten their
debit or credit card when they needed it most.
More bank for the buck
Chase continues to enhance its digital banking technology to
meet customers’ needs.
- Customers can now send and receive
money in real time to customers of a growing number of banks, with
the recent enhancement to Chase QuickPay.
- Customers will be able to use their
smartphone to take out cash from Chase ATMs later this year. No
card needed.
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
To uncover insights around digital banking knowledge and habits
of Americans, Chase conducted a telephone and online survey. The
telephone survey is among a nationally representative sample of
1,008 adults (18 years old and older) living in the continental
United States. The online survey is among a nationally
representative sample of 1,500 adults (18 years old and older)
living in the continental United States, with an oversample to
obtain 200 respondents in the following cities: New York, Los
Angeles, Chicago, Dallas, Phoenix, Columbus, Miami, and San Diego.
The surveys were conducted between April 19th and April 26th with a
margin of error of +/- 3 percent at the national level and +/-7
percent at the local market level with a 95% confidence level.
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 $2.4 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: 5,300 branches, 15,500 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/20160620005160/en/
ChaseMichael Fusco, 212-270-5089michael.f.fusco@jpmchase.com
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