The vast majority of young and middle aged Australians prefer to do their banking online according to Bankwest’s latest online transactions report. Among older generations face-to-face service is valued extremely highly.
Gen Y engages most often with their finances, with almost half saying they use the internet for banking several times a week – 5.7 per cent do so several times a day.
“It’s not surprising that Gen Y is more engaged with online banking, but the fact that some of them check their balances several times a week and even several times a day suggests they are extremely engaged with their personal finances, which is encouraging,” Bankwest’s retail executive general manager Mark Reid said.
Source: The Adviser