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Most Of Us Now Use Online Banking

Poll QuestionMore Americans are banking digitally than ever before, both on their computers and their mobile phones.

Pew Research Center found that 51% of U.S. adults now bank online using their computers, up from 46% in 2010.

Though not as widespread, there’s been a huge increase in mobile banking, with 32% of American adults reporting using their mobile phones to conduct bank business. That’s up considerably from 18% of cellphone users in 2011.

The Millennial Generation is leading the mobile banking trend, with 54% of 18- to 29-year-olds using the service.

We doubt anyone finds that surprising. Let’s face it: This group is rarely without a smartphone in hand.

But older demographics put up impressive numbers as well, with 40% of 30- to 49-year-olds using mobile banking and a quarter of 50- to 64-year-olds.

Younger adults also led in online banking, but only slightly over 30- to 49-year-olds.

Other findings:

  • Men are more likely to bank online than women, 63% to 58%, but both genders banked equally on their mobile phones.
  • Those who have completed some college are more likely to bank digitally.
  • Mobile and online banking is highest among those who earn more than $50,000 annually.
  • Nonwhites are more likely to bank on their cellular phones. Only 32% of whites reported using mobile services, while 39% of blacks and 41% of nonwhites, including Hispanics, did.
  • 66% of suburbanites reported banking online, while only 62% of city dwellers did — and 42% of people in rural areas.

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If you bank digitally, which activity are you most likely to do?
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Results from last week’s question: 36% of respondents said they would feel wealthy with at least $5 million in assets; 24% said it would only take $1 million.

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Comments (1)
4 votes, average: 5.00 out of 54 votes, average: 5.00 out of 54 votes, average: 5.00 out of 54 votes, average: 5.00 out of 54 votes, average: 5.00 out of 5 (4 votes, average: 5.00 out of 5)
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One Existing Comment
  1. A.Bundy said:
    on August 12th at 10:20 pm

    if you want any type of interest, than you need online banking. brick and mortar banks offer next to nothing in interest. i am stuck will ally’s .84%. I miss the 80’s when i used to get 20% interest on a savings account. Now i get next to nothing in return.