Australians embrace internet banking

Over 20 per cent of Australians are signed up with one of the major banks to do their banking over the internet.

Internet banking has sustained strong growth with 4.1 million Australians registered for net-banking. Over the last 18 months the number of registered users has tripled.

A recent survey by the Market Intelligence Strategy Centre has shown that the number of online transactions has increased by 16 per cent over the September quarter with the most significant increase in bill payments. The strong growth in actual transactions suggests that Australians have moved past the enquiry stage and are utilising their bank’s online functionality to better suit their lifestyle and banking needs.

Continued growth in both registered users and online transactions is good news for the banks as it indicates that Australians are increasingly becoming more comfortable with carrying out their banking online as opposed to overseas experience which has shown that customers mainly use internet banking for enquiries only.

The Herald Sun, 19/12/01

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