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CU System
One day without a phone? No way, says mobile report
CHARLOTTE, N.C. (7/1/14)--Americans are attached to their smartphones--enough so that nearly half say they wouldn't last a day without their technological teddy bear. According to a Bank of America survey released Monday, smartphones rival only cars and deodorant as "can't live without" items.

And forget binge-watching "Orange is the New Black" while drinking a cup of joe: 76% of owners say their smartphones are significantly more important to them than TV, and 60% rated phones higher than coffee.

The inaugural Consumer Mobility Report looked at the banking behaviors of people who own smartphones and have a relationship with a financial institution.

The report also found that the youngest millennials age 18 to 24 are most likely to consider view their mobile phones as very important (96%)--more than deodorant at 90% or a toothbrush (93%) and even their toothbrush (93 percent).

As far as mobile banking goes, almost two-thirds have tried using mobile banking, most often for checking account balances, transferring funds and depositing checks remotely.

Even as interest in mobile services grows, the survey found 84% had visited a branch within the past six months. Visits were strong across age groups--83% of millennials and 85% of those age 35 and older.


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