Mobile banking in the U.S.- statistics & facts

Mobile banking has gained significant popularity over the last decade. Many banking customers have realized the advantages of mobile banking and have changed the way they bank. Commonly mentioned benefits are convenience and saving time, as banking activities can be done from anywhere and anytime with a smartphone or computer, instead of physically visiting a bank branch during opening hours. With increasing popularity, the adoption of online banking grew significantly in recent years and is forecast to grow even more. The usage is particularly large in East Asia and Europe, but penetration rate is expected to grow steadily in the United States as well, along with the number of users.

User demographics

There seems to be a clear correlation between the usage of mobile banking and age, income, and education level. Younger generations are more likely to use mobile banking services than older generations. In 2021, 74 percent of individuals aged 15 to 24 reported using mobile banking in the past 12 months, compared to 15 percent of those aged 65 or older. There was a similar – though less sharp - tendency based on income. Households with higher annual incomes were more likely to use mobile banking services than those with lower incomes. Lastly, the level of education also seems to play a part in the usage of mobile banking. As of 2021, the share of people with college degree using mobile banking as a primary method to access their bank accounts was twice as high as those with no college and high school diploma.

Neobanks vs traditional banks

The rise of neobanks has disrupted the traditional banking industry and forced traditional banks to step up their game when it comes to mobile banking services. Neobanks have been able to offer customers a seamless and user-friendly mobile banking experience, making it easy for customers to manage their finances on the go. As a result, traditional banks have had to invest in their own mobile banking apps to remain competitive and retain customers. As of 2022, the largest traditional banks managed to maintain their leading positions, with the banking apps of Capital One, JPMorgan Chase, Bank of America having some of the highest number of banking app downloads. At the same time, usage of neobanks increased rapidly in recent years. In 2022, the leading mobile banking service provider in the U.S. was Chime, which had 5.8 million monthly active users.

This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.

Region with most active online banking users worldwide: Far East & China

Forecast number of digital banking users in the U.S. 2025: 216.8m

U.S. bank with most active mobile banking customers: JPMorgan Chase

Editor’s Picks Current statistics on this topic

Forecasted number of digital banking users in the United States from 2021 to 2025 (in millions)

Fintech (Mobile/online banking)

Estimated number of digital banking users in the U.S. 2021-2025

Banks

Mobile banking customers of four largest banks in the U.S. 2022

Number of mobile banking app downloads in the United States from 1st quarter 2019 to 4th quarter 2022 (in millions)

Fintech (Mobile/online banking)

Mobile banking app downloads in the U.S. 2019-2022

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Overview

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Online banking users worldwide in 2020 with forecasts to 2024, by region
Number of active online banking users worldwide in 2020 with forecasts from 2021 to 2024, by region (in millions)
Premium Statistic Estimated number of digital banking users in the U.S. 2021-2025
Estimated number of digital banking users in the U.S. 2021-2025
Forecasted number of digital banking users in the United States from 2021 to 2025 (in millions)
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Number of challenger banks users in the U.S. 2022
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Predicted penetration rate of digital banking in the U.S. 2021-2025
Forecasted penetration rate of digital banking in the United States from 2021 to 2025 (in millions)

User demographics

Premium Statistic Households using mobile banking as primary method to access account in the U.S. 2021
Households using mobile banking as primary method to access account in the U.S. 2021
Share of banked households using mobile banking as primary method to access bank account in the United States from 2015 to 2021
Premium Statistic Use of mobile banking as primary method to access account in the U.S. 2021, by age
Use of mobile banking as primary method to access account in the U.S. 2021, by age
Share of banked households using mobile banking as primary method to access bank account in the United States 2021, by age group
Premium Statistic Use of mobile banking as primary method to access account in the U.S. 2021, by race
Use of mobile banking as primary method to access account in the U.S. 2021, by race
Share of banked households using mobile banking as primary method to access bank account in the United States 2021, by ethnicity
Premium Statistic Use of mobile banking as primary method to access account in the U.S. 2021, by income
Use of mobile banking as primary method to access account in the U.S. 2021, by income
Share of banked households using mobile banking as primary method to access bank account in the United States 2021, by family income
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Use of mobile banking as primary method to access account in U.S. 2021, by education
Share of banked households using mobile banking as primary method to access bank account in the United States in 2021, by education level
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Use of mobile banking as primary method to access account in U.S. 2021, by location
Share of banked households using mobile banking as primary method to access bank account in the United States 2021, by location

Banking apps

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Share of locally headquartered finance app downloads in the United States from 2019 to 2022
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Leading banking apps in the United States in 2022, by downloads (in millions)

Mobile payments

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Consumer attitude

Premium Statistic Neobanking and neobrokerage popularity in the U.S. 2022, by brand
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Interest in using digital banks in the U.S. 2022
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Main reasons for consumers not to use digital banks in the United States in 2022
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Most popular mobile banking features among users in the U.S. 2022
Most valuable features of mobile banking for users in the United States as of November 2022

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Key figures

The most important key figures provide you with a compact summary of the topic of "Mobile banking in the U.S." and take you straight to the corresponding statistics.

Share of households using mobile banking in the U.S.
43.5%
Detailed statistics
Households using mobile banking as primary method to access account in the U.S. 2021
Age group with the highest mobile banking penetration
15-24 years
Detailed statistics
Use of mobile banking as primary method to access account in the U.S. 2021, by age
Share of households with college degree using mobile banking
48%
Detailed statistics
Use of mobile banking as primary method to access account in U.S. 2021, by education