Mobile banking more popular than telephone or branch banking

Some 37 per cent of UK mobile phone customers use the platform

Daily balance notifications are the most popular mobile service

Consumer preference for mobile banking is on the up and has overtaken branch-based and telephone banking in popularity, according to a survey.

Some 37 per cent of UK mobile phone customers currently use mobile banking, while 25 per cent of US mobile users have adopted the platform, says the research carried out by mobile billing firm mBlox.

The mobile banking platform was rated higher than telephone banking by users in the US and the UK, although by just one percentage point in the UK. Branch banking was cited as the preferred method by only three per cent of UK respondents and two per cent of those polled in the US.

Ability to access banking services anywhere, at any time was cited as the chief benefit of mobile banking, followed by convenience and time saving.

In both countries, the top four mobile banking services are daily balance notifications; suspicious activity notifications; fraud alerts and notifications about low balance, overdrafts and credit limits.

The survey covered 1,000 UK and 1,798 US mobile phone users.