According to research carried out by the American Bankers Association, 2009 is the first year when more bank customers (25 percent) would rather do their banking over the internet than turn to other alternatives, such as branch, ATM or phone banking.
Survey results showed that the popularity of online banking was not exclusive to the youngest consumers, as internet banking was the preferred banking method for all bank customers under the age of 55. Consumers over 55 continue to show preference for banking via their local branches (26 percent), followed by ATMs (17 percent).
Among all consumers, the preference for online banking was followed by visiting branches (21 percent), and using ATMs (17 percent). The use of mobile banking (cell phones, PDAs, etc.) was preferred by one percent of consumers, primarily among 18 to 34 year olds. The research also indicated that the popularity of ATMs was down in all age groups.
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