Internet Financial News February 20, 2009

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Online Banking Usage Up In Down Economy

Online Banking Usage Up In Down Economy

The biggest online spenders and the most frequent shoppers are more likely to click on personalized ads than non-personalized ads, according to a recent ChoiceStream survey.

U.S. consumers are paying closer attention to their finances and using online banking more frequently to manage their accounts during the current financial crisis, according to a study by Forrester Consulting conducted for Fiserv.

Nearly three quarters (71%) of consumers said they are keeping a closer watch on their finances then they did a year ago. More than three-quarters said they use online banking, with non-users making up the remaining one quarter.

Online banking usage increased more than any other banking channel, with 28 percent of consumers saying they are using online banking more then they did a year ago, and 63 percent said managing all of their accounts online from one site would help them feel more in control of their finances.



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