Three in four people older than 65 use online banking, according to a new study.
Credit reference agency checkmyfile.com found that 72 per cent of older people access their bank accounts and banking services by using internet banking. This constitutes the highest proportion of all age groups using internet banking.
"The survey clearly shows that internet banking is not the preserve of the young," says Barry
Stamp, joint managing director of checkmyfile.
The proportion of surveyed people who have access to the internet is similar across all the age groups, he said.
Mr Stamp said the only difference in banking habits is that older people tend to use their banks for services other than borrowing money.
Respondents over 55 often make use of banks to purchase currency, whereas people under 35 very rarely use this bank service.
Seven in ten bank customers make use of the online banking services. Only 12 per cent of bank customers said they had the name and telephone number of their local branch.
One in eight bank customers no longer contact their bank through traditional routes, the survey said.
Credit Reporting Agency Limited is the UK's first internet based credit reference agency, aimed at serving consumers through the website checkmyfile. It provides individuals with access to information held about themselves, their home area, and their assets.
Other services provided free to UK consumers include links to help check statutory pension entitlements and to help find the correct address using the Royal Mail postcode address file.
Consumers can also use the free credit scoring service to find suitable credit card lenders, so that the risk of being turned down is reduced substantially.
Three quarters of over-65s use online banking
Financial Services > e-banking > Banking news
Three quarters of over-65s use online banking
Fri, 03 Jun 2005
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