Study: Customers embrace online banking
Almost half of those who use the Internet do their banking online, a 23 percent increase from early 2007, according to a report by HSBC Direct.
The research found that 62 percent of those ages 21 to 34 conduct most of their banking via the Internet, and about 40 percent of those ages 45 to 69 do most or all of their banking online.
“People are increasingly turning to Internet banking because of the increased convenience, independence and typically better value that it offers,” said Kevin Martin, HSBC executive vice president of personal financial services guaranteed payday loans.
The findings from HSBC Direct are in line with projections about the future of online banking from Forrester Research. It suggests that 92 million, or 76 percent of, American households are expected to be banking online by 2011.
Customers like banking online on days when their neighborhood bank is closed. In 2008, HSBC’s Web site experienced almost 25 percent of its traffic over the weekend.
Filed under: money by Specialist