US citizens increasingly use their smartphones for banking. According to a 2012 survey, the number of Americans who use their cell phones for banking rose by 33%.
The Federal survey found that US citizens tend to check balances, pay bills and deposit checks using cell phones such as the Samsung Galaxy S3. They are more reluctant to do so on their iPhones, though.
Six percent of smartphone users used their phones to buy goods in the past 12 months, and 20% of users say they would like to use their phones to make purchases, the Fed added.
Bank of America is accepting more checks from smartphones every day. According to reports, the bank processes around 100,000 checks a day submitted from smartphones. It started offering this service a year ago.
Over 70% of leading banks offer smartphone banking. Only 27% of community banks offered similar services in 2011, according to the latest data from the American Bankers Association.
More and more banks are trying to offer mobile banking services, and smaller banks tend to rely on interbank service providers. Some banks appear to buy apps from outside developers in order to provide better mobile services to their customers, said Mr Johnson.