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Data for today’s episode is provided by Mercator Advisory Group’s report – ATM Banking: It’s Not Just About Cash Withdrawal Anymore.
- Nearly one-third (31%) of US adults age 65+ “never” use an ATM to withdraw cash
- Only 4% of 18-34 year olds report they “never” use an ATM to withdraw cash
- Same goes for other ATM activities like depositing cash/checks, checking balances, etc
- Over half (54%) of US adults age 65+ “never” use an ATM for activities beyond cash withdrawal
- Only 16% of 18-34 year olds report they “never” use other ATM activities beyond withdrawal
- Besides age, the other big demographic indicator for heavy ATM use is employment:
- 58% of heavy ATM users are employed full time
About the report
Mercator Advisory Group’s most recent Insight Summary Report, ATM Banking: It’s Not Just About Cash Withdrawal Anymore, reveals that U.S. customers are increasingly relying on ATMs to fulfill their banking needs. The report is from the Banking and Channels Survey in the bi-annual CustomerMonitor Survey Series, a part of Mercator’s Primary Data Service. It is based on findings from Mercator Advisory Group’s CustomerMonitor Survey Series online survey of 3,000 U.S. adult consumers in November 2018.
