A new report by market research company OnePoll has found that 70 per cent of over-55s now use the internet to manage their finances . The findings, into the online preferences of 2,000 people aged 50 in the UK, revealed greater confidence levels by older internet users in general. It also showed that 43 per cent in that age group had used the internet to evaluate their pension options, where to look for independent financial advice and for information on share investing.
The survey also highlighted that about a quarter of internet users in the 55+ age group use online financial services so as to avoid having to deal with annoying shop assistants and high street crowds, while another 8 per cent believed that online banking was preferable due to personal safety issues in public. In addition, 37 per cent claimed that internet shopping was a more pleasant experience.
Some analysts argue that the take up of online banking services by the elderly has been due to improved interest rates, greater choice of products and ease of use of the online experience.
William Higham, managing director of OnePoll, commented "The over-50s are spending more and more time online."
He added "95 per cent of over-50 internet users have shopped online and 70 per cent have booked a holiday online, so it makes sense to see them banking online too. In fact, our survey shows that the over-50s are more confident in their online banking abilities now than those in their 30s or 40s."
Majority of people over 55 now use internet banking
Financial Services > e-banking > Banking news
Majority of people over 55 now use internet banking
Tue, 15 Feb 2011
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