US: 88% of millenials use online, m-banking - report

Wednesday 26 March 2014 08:29 CET | News

88% of US internet users with ages 18 to 34 used online banking to pay monthly bills, make deposits and withdraw money and nearly half said they performed such activities on a mobile device, recent findings indicate.

According to a study released by financial institution TD Bank, respondents were using digital banking more frequently than they had in the previous year, with 57% saying they used mobile more often and 50% saying the same for online banking.

76% of those between ages 18 and 34 said that online and mobile banking were more convenient. Three-quarters of respondents said that an advantage of digital banking was that it saved them time, and the same percentage cited the ability to bank at any time as a benefit.

Top activities millennials conducted via online and mobile banking were checking balances or activity (84%), paying bills (57%) and transferring money (56%).

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: US, millenials, online banking, m-banking, mobile banking, report, pay bills
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech

Industry Events