What matters the most to Americans holding checking and digital-only bank accounts

Understanding the preferences of US adults when it comes to banking is essential for financial marketers and brands. YouGov's new tool, Financial Services CategoryView, provides valuable insights into these habits and preferences.

According to the data, 78% of US adults have a checking account, and the features they value most are varied. Leading the list, 68% of account holders consider online and mobile banking crucial. Close behind, 66% appreciate low or no monthly maintenance fees. ATM access is a priority for 58%, and 52% find online bill payment services essential. Only 15% consider mobile wallet integration as an important feature.

Additionally, three in 10 US consumers have a bank account with a digital-only bank (30%), meaning their banking services are handled exclusively online. Among these digital-only bank customers, three-quarters say their main account is with a digital-only bank (75%). The primary reason for this preference is the ease of money transfer, noted by 55% of users. 

Setting up an account easily was a reason for 48% of adults, and 47% appreciated the user-friendliness of mobile and online apps. However, some features aren't as critical. Promotions are only important to 11% of digital bank users, followed by the range of products (14%) and recommendations from people they trust (16%).

Methodology: YouGov Financial Services CategoryView collects data on brands & consumers across the US every month. The data is based on the interviews of more than 9,000 American adults aged 18+ between March and June, 2024. Learn more about YouGov Financial Services CategoryView.

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