Yodlee survey shows UK consumers more likely to bank than shop online

Internet Business News, April 2, 2003

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Financial management software company Yodlee has published a report that claims more people in the UK bank over the Internet than shop online.

The results showed that 65% of all consumers with home Internet access regularly bank online while just 44% purchase goods over the Internet. Out of those that did not shop online 23% said that the main reason for not doing was that they had a preference for face-to-face dealings - just 14% cited the same reason for online banking.

The under 35 age group is the most likely to bank online as 73% of that group manage their finances over the Internet. This figure drops to 64% for the 36-50 age group and 61% for the over 50s.

The survey was carried out by research organisation Consumer Analysis Group and polled 500 UK-based consumers that were over 18, in regular employment and head of the household.

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