The Fiserv-sponsored survey - which reflects the habits of the 88.2 million households in the United States with Internet access - was conducted by The Marketing Workshop and Harris Interactive. Fiserv has conducted the Consumer Billing and Payment Trends survey since 2001.
"We believe that consumers will continue to conduct more and more of their financial activities online," said Geoff Knapp, vice president, Online Banking & Consumer Insights, Fiserv. "Online banking and bill payment is a free service, and a convenient and environmentally friendly way to bank. Consumers are actively becoming fans of the user-friendly, secure services financial institutions are implementing."
With today's hectic lifestyles, consumers are looking for faster and easier ways to get things done, and it is estimated that people who pay their bills online save five hours a year compared to those that pay using checks. Of those surveyed, 41 percent of current online banking users indicated they planned to pay more bills online at their financial institution's website in the coming months, while 35 percent of those who pay bills directly at company websites said they planned to pay more bills online at those sites