Senior citizens now favour online banking too

Online banking is on the increase among the elderly, shows Finance Finland’s (FFI) survey “Saving, borrowing and paying in Finland”. According to the survey, 81% of 65–74-year-olds now use online banking.

​Online banking overtook direct debiting as the most common method of paying bills among senior citizens already in 2009, and the figure has risen steadily since. A total of 66% of respondents in the age group 65–74 used online banking in 2014, and the figure was up to 75% in 2015.

“On a European scale, Finnish seniors are at the forefront of online banking”, praises FFI’s Communications Manager Kristiina Siikala, who coordinates the soon-to-start collaboration between FFI and senior service organisations.

Online banking is now the preferred payment method for Finns aged 75–79, with more than half (57%) typically paying their bills online. Of all EU countries, the Nordic countries are the most active online bankers in all age groups.

The survey also shows that 90% of all Finns use online banking. The figure is up by three percentage points from 2015. In comparison, only 2% of Finns preferred to pay their bills online 25 years ago.

The survey was conducted by IROResearch early this year and consisted of telephone interviews with 2500 respondents.

Survey report (in Finnish)