When I was researching Australian financial services website compliance I found little data about internet banking usage.

So the release of details from the Commonwealth Bank’s inaugural E-Money survey – an annual index of electronic banking usage in Australia, is a welcome addition.

The results include:

• of 6.8 million Australians that have used online banking, 85 per cent prefer the internet to manage their day-to-day banking needs;
• Convenience is the main benefit of online banking for half of all online users (50%); followed by time savings (29%), ease of use over traditional banking methods (10%);
• customers aged 25-34 year olds and full-time workers were the most
  likely to use internet banking, while those over 50 years of age
  preferred using branches;
• The most popular online transaction is funds transfer/bill payment;
• among those yet to try internet banking, only 32 per cent are concerned about internet security.