Mobile access to banking has boosted people's awareness of of their financial situation and helped prevent them going into the red, according to research by Westpac bank.
The online survey of 843 Westpac customers confirmed expectations that the trend to use a smartphone or tablet to check your accounts is being taken up widely in the younger and more affluent crowd.
Of those surveyed 84 per cent of 26 to 35 years olds used mobile banking and 78 per cent of under 25 year olds used it.
But, surprisingly, 30 per cent of people aged over 55 also used their devices to bank.
Those earning over $50,000 a year were also more likely to use mobile banking.
The biggest perceived advantages to using mobile banking was the ability to bank anywhere, do banking on the go and bank at any time of the day.
But 64 per cent also said it had increased the awareness of their financial situation, more than half said they felt more in control of their money and 23 per cent said it meant their account was overdrawn less often.
Ian Blair, general manager retail bank at Westpac said the survey showed mobile banking had the power to change behaviour.
"Using mobile devices, Kiwis are checking in on various aspects of their finances a lot more regularly and are getting real benefits from doing so."
Blair said the rate at which mobile banking was being adopted was seven times faster than internet banking.
The research found the main reason people have not started using mobile banking was security.
"That's not dissimilar to when online banking was introduced and is something we have to educate customers about," Blair said.
The bank plans to conduct its Mobile Banking Report on a six monthly basis to monitor trends in the market.