Digital Transactions Rising: 51% of U.S. Adults Bank Online

Digital Transactions Rising: 51% of U.S. Adults Bank OnlineA majority, or 51 percent of U.S. adults, bank online (that’s about 61 percent of Internet users), according to a survey from the Pew Research Center.
About 32 percent of U.S. adults, or 35 percent of cell phone owners, bank using their mobile phones.
Both types of digital banking are on the rise.
In 2010, 46 percent of U.S. adults, or 58 percent of Internet users, said they bank online.
In 2011, 18 percent of cell phone owners said they have used their phone to check their balance or transact business with a bank.
There are large gaps between age groups. For example: since only 56 percent of U.S. adults age 65 and older have access to the Internet, the percentage of that age group who bank online is just 26 percent.
Household income is another indicator.  Among households that earn less than $30,000 annually, 48 percent bank online. For those earning $50,000 or more, the percentage surges to 71 percent and higher.
Pew’s findings mirror surveys conducted by Ipsos Public Affairs for the American Bankers Association (ABA).
In 2012, 39 percent of U.S. adults said they prefer to bank online (up from 36 percent in 2010), and 6 percent said they prefer to bank on a mobile device (up from 3 percent in 2010), according to the ABA findings.
Adults between the ages of 18-34 years old are driving the growth in both online and mobile banking, according to the ABA.
Digital Transactions Rising: 51% of U.S. Adults Bank Online

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