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Third Annual TD Bank Checking Experience Index Finds Mobile, Debit Essential to Generation Z
Survey also finds that day-to-day experience with banks and checking accounts remains positive for a significant majority of Americans

CHERRY HILL, N.J., Oct. 12, 2015 /PRNewswire/ -- Mobile banking and debit cards may play an increasingly significant role in Americans' lives, if generation Z (gen Z) has anything to say about it.

According to the 2015 TD Bank Checking Experience Index, released today by TD Bank, America's Most Convenient Bank®, mobile and debit are vital to gen Z Americans (ages 17 – 20)*, with nearly three quarters (74 percent) reporting their debit card as "essential," compared to 56 percent of overall Americans. In addition, 41 percent of gen Z respondents consider their bank's mobile app as "essential," compared to 22 percent of overall Americans.

TD Bank surveyed approximately 1,500 Americans for the third annual TD Bank Checking Experience Index, which evaluates consumer behavior and attitudes involving their banks, banking products and checking accounts. Consistent with 2014 results, this year's survey found that 86 percent of Americans feel positive about their banking relationships, rating their checking accounts as "excellent" or "very good."  

"It's encouraging to see that most Americans are still satisfied with their banks and their checking accounts," said Ryan Bailey, Head of Deposit Products and Non-Real Estate Lending at TD Bank. "Our findings about gen Z validate the increasing significance of mobile, and suggest that traditional financial services, like debit cards, will remain valuable to consumers and a priority for banks."

The Habits and Preferences of Gen Z and How They Compare to Millennials

  • Thirty-nine percent of gen Z respondents ranked mobile banking as a top day-to-day banking service or feature, compared to only 17 percent of overall Americans and 32 percent of millennials.
  • Ninety-three percent of gen Z respondents rated their banks' debit offerings as either "excellent" or "very good," compared to just 84 percent of overall Americans and 88 percent of millennials.

Learn more about gen Z banking habits here, and more about millennial survey results here.

Slow Adoption, But Much Praise for Payment Platforms

  • About half (53 percent) of survey respondents said they have used a payment platform, such as PayPal or Venmo, to pay a person in the past three months, while only 11 percent have used a payment platform such as Apple Pay or Google Wallet to pay a business in the past three months.
  • Those who are using payment platforms to pay people are happy with them. Eighty-eight percent of those who've used PayPal said they are either "extremely" or "very" satisfied. Ninety-one percent are satisfied with Google Wallet, while 89 percent are satisfied with the peer-to-peer payment platform offered by their banks.

Americans Are Still Satisfied with Their Banks

  • Eighty-three percent of Americans surveyed said they are either "extremely" or "very" satisfied with their primary checking account – in line with 2014 survey results.
  • Eighty-six percent of Americans ranked their bank as "excellent" or "very good" when it comes to offering friendly and helpful service – up three percent from 2014.
  • Seventy-five percent of Americans ranked their bank's hours as "excellent" or "very good" – up three percent from 2014.

"Americans are not only still happy with their banks, but appear to be growing more satisfied," said Bailey. "There are more ways than ever to bank, whether it's in a store or through a mobile device, and consumers enjoy the convenience of banking on their own terms."

View additional highlights from the 2015 TD Bank Checking Experience Index at

Survey Methodology

The survey was fielded by Vision Critical September 10 – 16, 2015. The total sample includes 1,474 respondents with checking accounts, featuring a margin of error of +/- 2.6 percent. Data has been weighted by age, gender and region to reflect the population.

*The bank defined gen Z as those aged 17 – 20 years old. While younger Americans make up this generation, they were not included in this survey.

About Vision Critical

Vision Critical provides a cloud-based customer intelligence platform that helps companies build engaged, secure communities of customers they can use continuously, across the enterprise, for ongoing, real-time feedback and insight.

About TD Bank, America's Most Convenient Bank®

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit Find TD Bank on Facebook at and on Twitter at

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit


For further information: Eric Springer, 856-470-3898,