{"id":94492,"date":"2013-08-07T00:00:00","date_gmt":"2013-08-07T05:00:00","guid":{"rendered":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/2013\/08\/07\/51-of-u-s-adults-bank-online\/"},"modified":"2024-04-14T04:18:35","modified_gmt":"2024-04-14T09:18:35","slug":"51-of-u-s-adults-bank-online","status":"publish","type":"post","link":"https:\/\/alpha.pewresearch.org\/pewresearch-org\/internet\/2013\/08\/07\/51-of-u-s-adults-bank-online\/","title":{"rendered":"51% of U.S. Adults Bank Online"},"content":{"rendered":"

Fifty-one percent of U.S. adults, or 61% of internet users, bank online. Thirty-two percent of U.S. adults, or 35% of cell phone owners, bank using their mobile phones.<\/p>\n\n

These findings are based on nationally representative surveys by the Pew Research Center designed to track an activity that is often held up as a proxy for consumer trust in online transactions and as an example of how one industry has enabled data to flow among different institutions.[1. For example: \u201cWhat Should Health Care Look Like in the Future?\u201d (Kaiser Permanente) http:\/\/xnet.kp.org\/future\/<\/a>]<\/p>\n\n

Both types of digital banking are on the rise. In 2010, 46% of U.S. adults, or 58% of internet users, said they bank online. In 2011, 18% of cell phone owners said they have used their phone to check their balance or transact business with a bank.<\/p>\n\n

\"Online<\/figure>\n\n

It is worth noting that 85% of U.S. adults say they use the internet, but someone\u2019s likelihood to have access declines with age.<\/p>\n\n

\"Demographics<\/figure>\n\n

Because of the gaps in access among age groups, differences among those who bank online are more pronounced. For example, since only 56% 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%.<\/p>\n\n

The following table displays data based only on internet users:<\/p>\n\n

\"Online<\/figure>\n\n

Ninety-one percent of U.S. adults say they own a cell phone. Of those, 35% transact business with a bank using a cell phone.<\/p>\n\n

\"Mobile<\/figure>\n\n

Young adults (ages 18-29) and whites report the most significant increases for online banking. In 2010, 55% of 18-29 year-olds said they banked online; in 2013, 66% of that group did so. In 2010, 47% of whites said they banked online; in 2013, 54% of that group did so.<\/p>\n\n

Younger adults are also leading the mobile banking trend. However, in contrast with online banking trends, non-white cell phone owners are more likely than whites to engage in mobile banking.<\/p>\n\n

These findings dovetail with surveys conducted by Ipsos Public Affairs for the American Bankers Association (ABA).\u00a0 In 2012, 39% of U.S. adults said they prefer to bank online (up from 36% in 2010) and 6% said they prefer to bank on a mobile device (up from 3% in 2010). Adults between the ages of 18-34 years old are driving the growth in both online and mobile banking, according to the ABA.[2. See \u201cABA Survey: Popularity of Mobile Banking Jumps\u201d (October 9, 2012). Available at: http:\/\/www.aba.com\/Press\/Pages\/100912PreferredBankingMethods.aspx<\/a>]<\/p>","protected":false},"excerpt":{"rendered":"

32% of adults transact bank business on their mobile 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