Few Bank Shoppers Say Mobile Check Deposit Is A ‘Must Have’

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When switching banks, only 8% of shoppers indicated they must have mobile check deposit.

By Rob Rubin, Managing Director,

Within the last two years, more and more banks and credit unions have begun offering mobile check deposit on their mobile banking platforms. Today, there are 137 institutions listed on and 33% offer mobile check deposit (see table below). Many banks and credit unions plan to roll out the service within the next 12 months.

Institutions Listed on FindABetterBank.com with Mobile Check Deposit

National Banks
(1000+ Branches)
Regional Banks
(100-999 Branches)
Community Banks
and Credit Unions
(>100 Branches)
Direct Banks
(Online Only)
# listed on
14 53 66 4 137
# with mobile
check deposit
10 12 19 4 45
% with mobile
check deposit
71% 23% 29% 100% 33%

Banks and credit unions with mobile check deposit report high take-up and usage amongst customers that have downloaded their mobile banking apps because it makes depositing checks more convenient. For institutions, it’s less expensive to process checks deposited through mobile check deposit then deposits made at teller windows.

But is this a feature that propels people to switch banks? Probably not too many. Research shows that high fees are the number one reason consumers switch banks. Bank shoppers on FindABetterBank.com indicate which features are “must have” and in 2013 Q1, only 8% of these shoppers indicated they must have mobile check deposit (see chart below).


Insights from Rob Rubin is Managing Director of His research leverages insights captured from thousands of bank shoppers every day while they are actually thinking about- and in the process of shopping for a new bank.

This article was originally published on May 7, 2013. All content © 2018 by The Financial Brand and may not be reproduced by any means without permission.


  1. Mark P says:

    Interesting article and headline.

    I think the 8% is actually an amazing number. If the options listed were spontaneous then even more so.

    Another take is that within the 19% who say Mobile Banking is a must have there is a mobile hard core of 8% who see the bank account as an extension of their device. Expecting to use it to pay cheques in.

    Would need to know more about how the research was conducted.

  2. According to the 2013 J.D. Power Retail Banking Satisfaction Study 7% of customers currently use mobile check deposit. The 8% who say it is a must have is therefore right in line with current usage. As more customers try mobile check deposit at their current bank, we will see this becoming a much greater factor in selecting a new bank.

    Jim Miller – Senior Director, Banking – J.D. Power & Associates

  3. Exactly Jim. Those who don’t want it are those who don’t know about it and/or haven’t used it.

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