Asians More Likely to Use Online Banking

Nielsen recently released a study showing that Asian Americans are much more likely to use online banking than other ethnic groups. 75.3% of Asians bank online versus 67.4% for everyone else. In addition, the younger and more affluent tend to bank online more as well, regardless of whether they are Asian (84% of under 35 with incomes over $100k regardless of ethnicity). But the less affluent Asians and older Asians tended to bank online more than their counterparts in any other ethnicity. Part of this is attributed to the fact that Asians keep more assets in bank accounts and keep up high deposit levels. The results of this study are no surprise; as even my mom who was pretty computer illiterate, insisted I check her bank account out online on a regular basis to verify deposits, clearing of checks, etc. She couldn’t use email, but she did know her daily online balance.