Millions switching to banking from their phones

Millions move to online banking

RICHMOND, Va. (WWBT) - Ten years after launching its digital banking app, Bank of America reports it has 25 million mobile banking customers in the United States and 36 million digital users.

A lot of people are moving to mobile banking. You can now take a photo and deposit checks, pay your bills and even split tabs with friends and family all through your smartphone.

However, the Richmond Region Market President of Bank of America, Victor Branch, says there’s still quite a few reasons people want that face-to-face contact inside a bank.

Many use banking apps to set up digital appointments.

“People still want to go in and see their banker, talk about a mortgage if they have a life-changing event like a child. They want to go in and sit down and talk to their banker and map out a financial plan,” said Branch.

Though digital banking maybe easier, it also means you need to be more cautious.

  • Guard your passwords. Don’t give them to friends or family.
  • Check your accounts daily for fraud so you can report it immediately.
  • Be vigilant - financial institutions are trying to protect your money, but you need to keep a watch over it as well.

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