Americans Trust Banks Most to Keep Their Payments Safe, Survey Reveals



Despite all the Web-related security issues in today's world, Victory State Bank’s customers can rest assured that Staten Island’s only community-based commercial bank works diligently in their behalf to ensure the safety of their accounts.


According to a recent survey conducted by Morning Consult for the American Bankers Association, Americans have great confidence in their banking community.

The survey revealed that nearly 6 in 10 Americans — 59 percent — trust banks most to keep their payments safe. Only 12 percent of consumers trust alternative payment providers, such as Apple, PayPal or Venmo, most to secure their payments.

 “Across the board, banks continue to set the gold standard for payment security,” said Steve Kenneally, ABA’s vice president of payments and cybersecurity policy. “As new payment options enter the marketplace, consumers remain confident in their bank’s ability to secure their data and provide safe and convenient payment options for everyday transactions.”

 When asked “Which of the following do you trust most to keep your payments safe?” consumers provided the following answers:

  • Banks — 59 percent
  • Don’t Know/No opinion — 23 percent
  • Alternative payment providers, such as Apple, PayPal or Venmo — 12 percent
  • Major retailers, such as Walmart or Macys — 4 percent
  • Telecom companies, such as Sprint or Verizon — 2 percent

The survey also found that younger adults — aged 18-29 — are more likely to use mobile payment apps than any other generation at 37 percent, compared to 19 percent of individuals aged 45-64 and 10 percent of those aged 65 and older.


About the Survey

This poll was conducted by Morning Consult on behalf of the American Bankers Association from August 24-26, 2017, among a national sample of 2,000 adults. The interviews were conducted online and the data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment, and region. Results from the full survey have a margin of error of plus or minus 2 percentage points.






About Victory State Bank


VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at


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