Consumers like mobile for banking, but not opening an account

In an age where convenience reigns king, consumers are increasingly demanding easy, quick, unlimited and free access to all things banking. That includes their cash.

A recent FindABetterBank survey of 2,300 consumers found 59 percent of respondents reported using ATMs at least once a week. Fifty-two percent said they use other financial institution’s (FI’s) ATMs at least 30 percent of the time.

Moreover, of the 28 percent of survey participants who indicated they must have mobile banking with any new checking account, 43 percent said they also must have access to surcharge-free ATMs. This isn’t surprising. As it gets increasingly easier for consumers to check balances, make transactions, move money between accounts and even cash checks with a tap on their mobile device, consumers expect the same ease of access to their cash.

Also not surprisingly, consumers who consider mobile banking and free ATMs a must are also more likely to state a desire for mobile check deposit, online bill pay and email alerts. Interestingly, just 10 percent of those polled said they would prefer to open their new account on a mobile device. Ninety percent cited opening their account in-person at a brick and mortar branch location as preferable.

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