Since the year 2002, there has been a dramatic increase in the number of people who do online banking. It has grown by 47%, which just goes to illustrate how popular online banking truly is. This shows that about 53 million people in America are now using online banking as their preferred method of making purchases, transferring funds and paying bills.
It is estimated that around 44% of American households use the Internet. Now nearly one quarter of adults report that they use online banking to pay bills and check bank account information. In an average day, 13 million American people will sign on to check their online bank account, this is an increase of 58%.
People consider a number of different reasons when they decide to sign up for online banking. Many customers who sign up for online banking have a fast broadband connection, which makes the experience better. Sixty-three percent of people who have broadband at home also said that they have tried online banking.
Many people have a number of different reasons when they opt to sign up for online banking and
buying online using credit card. Most customers who use the online option, need to have a fast DSL connection which will make it much quicker. Sixty-three percent of customers using credit card consolidation who have DSL at home, also mentioned that they have tried banking online.
This number is comparable to the 32% of people who have a dial-up Internet connection and have used online banking. Approximately, 51% of customers who have six years or more of Internet experience have said they have tried online banking, compared to 27% who have less than six years. Age also plays a factor in the amount of people who have tried online banking, most are between the ages of 28 and 39, but once people are over the age of 60 the percentages drop dramatically.
People know they can trust online banking and are taking to it quite well. With a user friendly guide on many websites, online banking is now a much easier and more convenient way to manage your financial affairs.
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