Online banking becomes more popular in U.S

WASHINGTON: Americans are increasingly skipping lines at teller windows to take care of their banking needs over the Internet, according to a survey.

On any given day, Internet users are nearly as likely to check their balances online as use instant-messaging software, the survey found. 32 per cent of those surveyed said they did their banking online, compared with 17 percent in 2000. While other activities like booking travel reservations and making purchases remained more popular, the Pew project found them growing at a slower rate.

Those surveyed were most likely to cite convenience and time saved as reasons they banked online. Younger Internet users were most likely to use online banking services, while those over 65 were the least likely -- although they were the most likely to track investments online. College-educated and more affluent Internet users were more likely to handle their money online than poorer, less educated Internet users.

The practice was equally popular across racial and ethnic lines. The Pew project based its report on a survey of 2,092 adults taken in September and October. It has a margin of error of between 2 percentage and 3 percentage points.