Uptake of online banking

In the US 53 million people (44% of internet users and one-quarter of all adults) say they use online banking. This is an increase of 47% over the number of Americans who were performing online banking in late 2002.

These latest results come from a survey done by the Pew Internet & American Life Project in late November 2004. Of all the major internet activities tracked by the Project since its inaugural survey in March 2000, online banking has grown the fastest.

Not surprising higher income and better educated people are far more likely to use online services. What does make you think is the increase of use by the different age groups (see chart).

The 28-39 had the fast rate of growth (76%) but in 2004, 88% more people aged 50-58 were using online banking.Dick Stroud www.20plus30.com

US data about online banking