51% of U.S. Adults Bank Online

Fifty-one percent of U.S. adults, or 61% of internet users, bank online. Thirty-two percent of U.S. adults, or 35% of cell phone owners, bank using their mobile phones.

These findings are based on nationally representative surveys by the Pew Research Center designed to track an activity that is often held up as a proxy for consumer trust in online transactions and as an example of how one industry has enabled data to flow among different institutions. Both types of digital banking are on the rise. In 2010, 46% of U.S. adults, or 58% of internet users, said they bank online. In 2011, 18% of cell phone owners said they have used their phone to check their balance or transact business with a bank. Because of the gaps in access among age groups, differences among those who bank online are more pronounced. For example, since only 56% of U.S. adults age 65 and older have access to the internet, the percentage of that age group who bank online is just 26%.

[Aug 7]