Survey College Students Turn to Internet Banking
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Survey Reveals College Students Favor Internet Banking
Overview
As technology continues to shape our lives, internet banking is on the rise, particularly among college students.
Findings
A recent survey highlights that 50% of college students use online bill-paying services, significantly higher than the 28% of the general banking population.
"College students today are redefining banking by opting for the convenience of online services," says Jerry McCoy, Chief Marketing Executive for NetBank, an internet-based bank. "This allows them to concentrate on academics and extracurricular activities without the need to visit a bank branch."
Key Insights
The survey also showed that 92% of students arrive at college with their own computers, and 87% have reliable internet access in their dorms or apartments. Two-thirds emphasize the importance of banks offering online banking and bill-paying options.
Internet banks appeal to students due to their user-friendly platforms and access to fee-free ATMs. With the ability to set up automatic payments, students are less likely to miss payment deadlines. Additionally, lower service fees and higher interest rates?"sometimes up to five times the national average?"make these banks financially attractive.
Advantages
With internet banking, students can establish checking accounts before arriving at college using just an email address and a driver's license. This eliminates the need to open new accounts in their college town, providing them with pre-printed checks and debit or credit cards upon arrival.
Parents also benefit from internet banking as they can quickly transfer funds to their student's account, ensuring students have access to money when needed.
In summary, internet banking is proving to be a preferred choice for college students, offering them flexibility, convenience, and financial benefits.
You can find the original non-AI version of this article here: Survey College Students Turn to Internet Banking.
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