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African-American man sipping coffee and looking at smartphone
African-American man sipping coffee and looking at smartphone

joining the digital banking revolution

More people use their phones to manage their finances. Here’s why you should, too.

You may feel like you don’t know how to get started managing your finances on your phone, but once you start, you won’t be able to stop! The proof is in the numbers: Almost half of U.S. adults with online access used their smartphones for banking activities at least once a month in 2019.1 And this number is growing rapidly.

Did you know?

  • 81% of Americans own a smartphone2
  • 63% of smartphone users have at least one financial app on their phone3
  • 48% of online adult Americans did some form of monthly banking on their smartphone1

Check out what your phone can do

Why is banking on smartphones so popular? Digital banking offers loads of convenience. Can’t get down to the bank or an ATM to deposit a check? No problem—use your phone. Need to pay your bill right now? Your phone can handle that, too.

While the features available through mobile banking can vary from bank to bank, most banks let you tackle the most important stuff on your phone, including1:

  • 95% checking your account balances
  • 88% paying bills
  • 86% depositing checks remotely
  • 84% setting up alerts for low balances and other notifications

Need to pay someone quickly?

Another key way people are making their financial lives easier is by using their phones to transfer money directly to friends, family, or coworkers—all safely and easily! Known as peer-to-peer or person-to-person (P2P) in the industry, this kind of digital banking is already popular since Americans are using less and less cash. In fact,

  • 70% of online U.S. consumers used P2P to transfer funds to someone else during late 20194
  • 29% of U.S. consumers say they make no purchases using cash in a typical week5

Beware of fraud

Consider these steps for keeping safe while doing your banking online.

  • Change your passwords regularly—as frequently as every 30 to 90 days
  • Opt-in to multi-factor authentication, if available
  • Don’t do your online banking while on public computers or public Wi-Fi networks
  • Review your account statements to identify any unauthorized transactions

It’s as easy as 1, 2, 3…

If you’re considering joining the digital revolution, First Financial Bank is here to help:

  1. Enroll in online banking
  2. Download the First Financial Bank mobile banking app
  3. Log in using your smartphone, review the disclosure agreements, and register your device.

You now have access to online services including remote deposit, balance check, bill pay, alerts, and money transfers—all right at your fingertips.

1 Boston Federal Reserve 2019 Mobile Financial Services Survey of Financial Institutions (https://www.bostonfed.org/publications/mobile-banking-and-payment-surveys/financial-institutions-across-the-us-participate-in-the-mobile-landscape-transformation.aspx)

2 Pew Research Center 2019 Mobile Fact Sheet (https://www.pewresearch.org/internet/fact-sheet/mobile/)

3 Bankrate 2018 Financial Apps Survey (https://www.bankrate.com/personal-finance/smart-money/americans-and-financial-apps-survey-0218/)

4 Early Warning, 2019 Digital Adoption Tracking Study (https://www.zellepay.com/press-releases/gift-giving-helps-zelle-wrap-2019-double-digit-growth#_ftn2)

5 Pew Research Center 2018 (https://www.pewresearch.org/fact-tank/2018/12/12/more-americans-are-making-no-weekly-purchases-with-cash/)

The information on this page is accurate as of January 2021 and is subject to change. First Financial Bank is not affiliated with any third-parties or third-party websites mentioned above. Any reference to any person, organization, activity, product, and/or service does not constitute or imply an endorsement. By clicking on a third-party link, you acknowledge you are leaving bankatfirst.com. First Financial Bank is not responsible for the content or security of any linked web page. Member FDIC / Equal Housing Lender.

Online banking terms and conditions apply to the use of these services.  Please refer to the Online Services User Agreement for further details.

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