Older German Embrace online banking: record numbers and trends!

Older German Embrace online banking: record numbers and trends!

Waiblingen, Deutschland - Digital banking is becoming increasingly important in Germany - and not just among young people. More and more older people have discovered the advantages of online banking, as current surveys show. A new report by ZVW reveals that 83 percent of the 65- to 74-year online banking now use. This is a clear increase compared to the previous year when it was only 77 percent. And the 75+ generation is no longer offside: now 43 percent of this age group use the Internet for banking transactions, a leap of only 26 percent in the previous year.

These numbers are promising. Almost nine out of ten respondents (86%) stated to use online banking. In addition, the proportion of those who only handle digital banking has increased from 42% to 44%. There are now more people who use online banking than those who regularly go to a branch-only 41% do this. A survey by the industry association Bitkom also shows that a total of 81 percent of German online banking.

Important criteria for bank selection

What makes a bank so attractive now? A number of criteria play a role. When choosing a bank, 96 percent of the respondents value the amount of the bank fees, closely followed by 95 percent, which prioritize the amount of deposit protection. The number of free ATMs (87%) and a toll -free access to cash abroad (85%) are also crucial. The desire for a user-friendly online banking app, which 78 percent of those questioned, expressed is particularly striking.

Here is an interesting age difference: While only 37% of 16 to 29-year-olds consider a well-developed branch network as important, it is impressive 71% of the over 65 year olds who see this crucial. This clarifies that digitality and tradition often go hand in hand when it comes to banking.

The influence of mobile end devices

What makes online banking so accessible to users? Mobile access is a crucial factor. Around 76 percent of online banking users use their smartphone for banking. This can also be seen in the frequency of use across different age groups. Among the 16- to 29-year-olds are even 97 percent that use online banking actively, while the use of seniors is 33 percent who use their smartphone to do their banking business.

The survey of Statista illustrates that online banking is now the common method of banking. While the proportion of online banking users in Germany was still 50 percent in 2021, this trend has continuously developed upwards. People are increasingly decided to handle their shops online, which has been reinforced not least by the pandemy situation. The interest in digital offers and user-friendly banking solutions is therefore unbroken.

In today's fast -moving world, it turns out: Banking on the Internet is not only practical, but also forward -looking. The trend will continue to increase, and digital banking once again makes it clear that it can be simple and effective for every age group. The time of waiting in long snakes is a thing of the past-maybe it is time to convince the long-established bank visitors of the advantages of online banking.