Statistics, Facts, & Such
- Over 22 million prepaid debit cards (stored value cards) will be issued in 2004. It is anticipated that there will be over 50 million of them in circulation by 2009.
The PELORUS Group Research Report, Raritan, NJ, July 20, 2004
- The median balance of students who use their card for incidental expenses was $1,600. If the credit card was used to fund undergraduate study the median balance was $3,400. At an interest rate of 15%, it would take the first group $78 a month for two years and the second group five years to clear the balance after graduation.
Nellie Mae, 2002 National Student Loan Survey BankRate.com, 7/19/04
- 83% of Americans shred or destroy bank and/or credit card information. Less than 50% read privacy statements and/or bank liability clauses.
Insight Express, 4/27/04
- VISA reports global debit card volume reached $1.48 trillion at the end of 2003; global credit volume went to $1.45 trillion. It's the first time debit card volume has surpassed credit card volume.
Visa International Press Release, 4/20/04
- Community banks account for 34% of all small business loans
ICBA, 4/16/04
- Since the CRA law passed in 1977, more that $1.7 trillion has been invested by the banks in depressed and minority neighborhoods, nearly half in affordable housing.
New York Times, 4/14/04
- The average ATM surcharge is now $1.47, with more charging $2.00 than last year. 85% of Internet banks do not charge for the use of another institution's ATM. 88% of traditional banks do.
Bankrate.com, 8/04
- Less than 15% of retail check deposits are made at an ATM. If that percentage could be increased to 40%, it would save one hour per day per teller.
Celent Communications Report: The Check Stops Here: The Forces Moving Check Truncation to the ATM", ATM Marketplace.com
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 07, 10/04
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