46 percent of all respondents reported using the Internet to do some of their everyday banking activities, a significant increase compared to a few years ago.7
25 percent reported using telephone banking, a significant decline over the past 3 years or so.
42 percent of all respondents relied solely on conventional ways of banking (not using the Internet or the telephone).
Age was the key determinant of the ways (conventional or non-conventional) everyday banking was done.
However, although those most likely to bank in-person were still older respondents, even among them, on-line banking was more prevalent than telephone banking.
Of those banking on-line:
65 percent perceived risks associated with on-line banking; and,
45 percent claimed they were taking actions to minimize the risks associated with on-line banking.
Of all respondents:
11 percent had visited a website and used its financial calculator(s); and,
26 percent claimed to have used the Internet over the past 3 months to look for information to help them with their personal finances.
Footnote 1 A 2003 survey by Ekos for the Public Interest Advocacy Centre estimated that at that time just over one-third of Canadians were using the Internet (33 percent) and the telephone (34 percent) to manage their personal finances.