For Immediate Release: September 21, 2006
Contact: press@decisionanalyst.com
Nearly 40 Percent Of Americans Conduct Most Banking Transactions Online, According to American Consumer Opinion®
Arlington, Texas – Nearly 40 percent of Americans now conduct most of their banking transactions online, according to a study by American Consumer Opinion®.
For its recent Financial Services Study, American Consumer Opinion® asked bank customers to describe how they most often conduct business at their primary financial institutions. Among all survey respondents, 49.6 percent said they usually conduct business in person and 38.1 percent said they most often conduct business online. Another 5.9 percent said they most often use the mail, while 5.6 percent said they usually conduct business by telephone.
Broken down by gender, 50.2 percent of women and 49.0 percent of men most often conduct business in person, while 41.2 percent of men and 35.3 percent of women most often conduct their transactions online.
Among those who most often conduct business in person, the highest percentage (59.8 percent) are older than 60, the study shows. Among those who most often conduct business online, the highest percentage (49.7 percent) are 30 to 44 years old.
By income, the highest percentage of those who usually conduct business in person earn $40,000 per year or less (55.9 percent). Among those who most often conduct business online, the highest percentage earn $75,000 per year or more (43.4 percent).
Methodology
For its Financial Services Study, conducted this summer, American Consumer Opinion® used a representative sample of 627 respondents who had bank loans, liens, or demand accounts. The margin of error is plus or minus four percent.
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