STATS
- There were 8,528 bank robberies in 2001; 7,703 in 2002; and 7,357 in 2003.
Federal Bureau of Investigation
- Customers are making purchases with check cards at a rate of 65 purchases every second.
Bank of America, www.bankofamerica.com, June 17
- The nation's top ten banks say online bank bill payment services grew by 37% in the first quarter of 2004 over the first quarter of 2003; and users logging on to their accounts grew by 29%.
U.S. comScore, Reston, Virginia, June 17
- Consumers paid an average of 14 bills online during the first quarter of 2004, with an average value of approximately $250.
Ibid.
- At the average bank, 40% of personal check accounts and 75% of business accounts obtain their checks through discount offers in ads or on the Internet.
Div Gen Mgr Mark Firmin, ACOM Solutions, Inc., Duluth, GA, May 19 www.inhousechecks.com
- "By 2008 60% of all consumer remittance payments will be electronic."
PayStream Advisors Research Analyst John McCormick, June 3
- By 2007 37% of all US households (42.5 million) are expected to be registered to bank online.
The TowerGroup, Credit Union Tech-Talk, June 2
- It costs $1.25 to accept a paper check at a teller station; $1 to accept it at an ATM. Truncating a check is 30¢ at a teller station and 27¢ at the ATM.
Diebold market research, Credit Union Tech-Talk, June 2
- "8,000 of the nation's 9,000 banks have less than $500 million in assets, and 3,350 of those banks have fewer than 25 employees."
Brad Rock, Chmn & CEO, Bank of Smithtown, NY - in Testimony before Congress, May 17
- "The total cost of compliance today for banks is between $26 billion to $40 billion per year."
Ibid.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 3, 7/05
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