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Statistics, Facts & Such

  • "29% of financial services companies don't respond to online inquiries. In addition, most display a substandard attitude toward online visitors." Donal Daley, CEO of The Customer Respect Group, reporting on the Forrester Research Study, Spring, 2003

  • There was a drop in the consumer loan dollar delinquency rate of approximately 28% in 2001. Overdraft protection had the highest dollar delinquency rate (2.8%), while home equity lines of credit had the lowest (.7%) 2003 Consumer Credit Collections Study, conducted in conjunction with the Consumer Bankers Association, Reported by BenchMark Consulting, International, 5/27/2003

  • About $4,400 is stolen in an average bank robbery. Federal Bureau of Investigation

  • A survey of almost 4,000 households, revealed that in 2002, 20% of U.S. consumers viewed billing statements online vs 1% four years ago. 13% paid bills online, vs. 2% in 1998. But 41% of online bankers and bill payers still choose to write checks and use the U.S. mail to pay the bills. "2002 Market Survey Results: Consumers Speak Out About Online Bill Payment and EBPP" www.towergroup.com. TowerGroup, MA

  • The most common password is "password" and the most common PIN is "0000". The next most popular PIN is "1234". Credit Union Tech Talk - July 2, 2003 (Note from Editor: Two men in Taipei, China who were arrested on July 1, 2003 for ATM card theft said they stole ATM cards from cars and motorcycles and accessing accounts was easy because many people had written PINs on the cards or used their birth dates as PINs.)

  • 78% of people asked to list the most important parts of their lives included the ATM. When asked to compare the importance of modern conveniences, those surveyed chose personal computers first (68%); microwave ovens next (63%); and then ATMs (56%). Harris Interactive Poll commissioned by eFunds, 6/24/03

  • ATM/debit cardholders use their card about four times a week. They are twice as likely to use the card to make a purchase as getting cash from an ATM. PULSE EFT Association

  • Losses due to credit card fraud are now over $4 billion annually in the United States alone. Over $2.7 million was the result of the ID theft credit fraud at a New York Based credit bureau. Hypercom.com.

Copyright © 2003 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 5, 7/22

First published on 07/22/2003

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