Mobile Device Users Leery of Mobile Banking, GOBankingRates Study Says

While some mobile banking users claimed to have no major concerns about mobile banking, more than 56 percent said they have fears when accessing their bank information on smartphones, a GOBankingRates study found. About 37 percent of smartphone users polled cited identity theft as a major concern, and almost 9 percent were worried about technical errors, GOBankingRates said Tuesday (http://bit.ly/1nmcjp1). Women were 65 percent more likely than men to worry about technical errors resulting in missing funds, it said. Men were 85 percent more likely than women to be worried about lack of paper statements, and 37 percent more likely to be concerned with misuse of information, it said. “Respondents in the Northeast and South were more concerned with identity theft than those in the West and Midwest.” To obtain the information, GOBankingRates surveyed 790 Americans, it said.