According to a representative survey by the digital association Bitkom, 90% of internet users in Germany carry out their banking transactions online. This trend is also increasingly affecting older internet users aged 65 and over, 80% of whom already use online banking. Four years ago, this figure was only 60%.
In the population as a whole, including non-users of the Internet, as many as 76% use online banking. Among the over 65s, the figure is still 45%. Whether someone uses online banking therefore depends primarily on their access to the internet. Other factors, such as age, only play a subordinate role.
Most people use online banking to view their account balance, make transfers and manage standing orders. Other functions such as managing credit cards, investment and pension products and taking out loans, on the other hand, are used much less frequently.
With a usage rate of 79%, smartphones are now the most important device for accessing online banking, followed by laptops. Due to the widespread use of online banking, aspects such as the user-friendliness of the online banking app, cyber security and the possibility of using mobile payment methods are increasingly important criteria when choosing a bank.
In this respect, however, the German banking landscape only receives an average rating of 3.1 from customers. Accordingly, a slight decline in customers can also be observed at traditional banks. By contrast, young people in particular are increasingly considering opening a current account with tech companies such as Amazon, Apple or Google.
