Statistics, Facts & Such

• There are now more than 371,000 ATMs in the United States. The average number of transactions per month, per machine, in 2003 is 2,509 - up from 2.432 per machine in 2002. ATM & Debit New Reports
• The use of checks as a method of payment has been around since 1640. ElectricNews.net, 9/18/03
• 64% of people surveyed in UK say they use cash for goods and services, and only 23% of that group say they will use less cash in the future. Ibid.
• Of 500 Americans surveyed online in 2003, 57% said they pay at least one of their bills online, contrasting with 17% of the same group surveyed in 2000. Of those who do not pay their bills online, 76% said their reasons are security concerns - a fact and percentage figure that has not changed from the survey in 2000. Market Research, Sept., 2003, InsightExpress.com
• 72% of those who bank online report the most common activity is accessing bank statements, while 57% of the time online with their bank is to review account transactions, and 53% of the use is to transfer funds between accounts. Ibid.
• 27.3 million Americans have been the victims of Identity Theft over the last five years - 9.9 million during 2002. Losses to businesses and financial institutions related to ID theft totaled $48 billion last year, and consumer victim losses were $5 billion in out-of-pocket expenses. FTC Survey, September, 2003
• Of the 9.9 million ID Theft occurrences in 2002, 3.23 million involved the opening of new accounts, resulting in an average loss to businesses and financial institutions of $10,200 per victim and an average loss to the individual victim of $1,180. Ibid.
• Of the 9.9 million ID Theft victims in 2002, approximately 5 million discovered they were victims by monitoring their accounts. 26% reported they were alerted to suspicious account activity by credit card issuers or financial institutions. 8% found out about it when they applied for credit and were turned down. Ibid.

Copyright © 2003 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 7, 10/03