updated 4/22/2008 11:27:30 AM ET 2008-04-22T15:27:30

Do you use your cell phone or PDA to check your bank balance or do simple transactions? If not, you're not alone — a survey finds most Americans are still hesitant about mobile banking. But at the same time, young people are increasingly coming around to the idea.

The IBM study finds 89 percent of consumers do not use their cell phones to conduct mobile transactions, even though it's available from most banks.

But at the same time, the study found that 21 percent of consumers age 18-34 do use their cell phone for mobile banking transactions, compared to about 10 percent of the general population.

These numbers — particularly for younger consumers — are expected to grow significantly.

Meeting the needs of these tech-savvy customers is seen as key for banks to stay competitive.

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