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Online Banking Continues to Increase In Popularity


Dec. 10 - Banking online continues to increase in popularity as a primary banking method for American consumers, according to a recent survey by Ally Bank, Midvale, Utah. According to the survey, almost a quarter (24 percent) of consumers bank primarily online, via computer or tablet. That figure shows an increase in both 18 to 34 and 35 to 44 year old age groups since 2012, and a 10 percent increase overall since 2010.

The survey also found that if given $10,000, only 6 percent of consumers would spend that money, compared to 12 percent in 2012. This year 29 percent surveyed say they would save it, 23 percent say they would use it to pay outstanding bills and another 23 percent would pay down debt.

"Our survey data indicates a shift over the last several years, as more consumers look online to manage their finances," said Diane Morais, Ally Bank deposits and line of business executive. "Banking with a direct bank offers the same, if not more, opportunities and advantages as traditional banks with physical branches, and consumers appear to be gravitating toward this approach."

Millennials Visiting Branches Less, Primarily Banking Online

Ally Bank's annual survey has been tracking the banking behaviors of millennials, Americans ages 18-34, in particular. The below results are specific to the 18-34 year old age group:

"This survey demonstrates that consumers are more in tune than ever with their financial health, and they expect convenient options for accessing and managing their money," Morais added. "We continually focus on enhancing the customer experience through 24/7 leading customer service and offering valued features, such as the recent upgrades to Ally Mobile Banking and the Webroot SecureAnywhere AntiVirus software offer, to position Ally Bank as the preferred alternative for consumers."

Editor's Note
A telephone survey was conducted by Opinion Research Corporation among a national probability sample of 1,001 adults comprising 501 men and 500 women 18 years of age and older, living in the continental U.S. Interviewing was completed during the period of September 12-15, 2013.

About Ally Bank
Ally Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposit required to open an account, no monthly maintenance fees and 24/7 live customer service. A subsidiary of Ally Financial Inc., the Bank offers online savings, interest checking, money market accounts, certificates of deposit with terms ranging from three months to five years, and IRA Plans and products. Member FDIC.

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