Roy Morgan Research
May 04, 2018

The way Australians bank

Topic: Press Release
Finding No: 7577
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New results from Roy Morgan show the changing landscape of banking channels within Australia. ATMs are the most used banking channel followed by Internet banking, and more now use mobile banking than visit a branch.

These latest results are from Roy Morgan’s Single Source survey of over 50,000 consumers per annum.

ATM most used service while mobile and phone banking grows

ATMs remain the most used banking channel in Australia, with 83.4% of Australians aged 14+ using an ATM in the last 12 months (down 0.8% points from 84.2%). Internet Banking was the second most used banking channel in Australia, with 54.2% using Internet Banking in the last 12 months (down 2.0% points from 56.2%). 

The rapid increase in the use of mobile banking, with its higher satisfaction levels compared to branches, appears to have affected the number who use it compared to visiting a branch. Mobile banking usage is at 46.5% (up 3.1% points from 43.4%), beating visiting a branch at 45.1% (down 3.5% from 48.6%).

Phone Banking also saw an increase on 2017, with 24.1% of Australians aged 14+ using Phone Banking (up 1.6% points from 22.5%).

Banking Channel Used in last 12 months

Source: Roy Morgan Single Source (Australia). Six months ended March 2018, n = 23,920. Six months ended March 2017 n = 23,926. Base: Australians 14+. 

Norman Morris, Industry Communications Director, Roy Morgan says:  

Block Quote

“ATMs are the most used banking channel by Australians, with 83.4% using one in the last 12 months, yet this declined over the same period the year before. Our research continues to show that mobile banking has the potential to be the leading banking method, with an outlook to surpass internet banking, which saw a decline over the last 12 months.

“With growing consumer trends towards frictionless mobile banking, where payments can be made and received to a mobile device, shopping online and in store can be used with a mobile, and even be used in lieu of a debit card to withdraw cash at an ATM, it’s no surprise the relationship with banking satisfaction can relate heavily to the services banks provide to their mobile banking.

“The Banking Channel Usage and Satisfaction Reports highlights the current state of banking services as well as changes in usage behaviour by the Australian population. As banking services form a key link between the banks and their customers, these reports provide an invaluable insight into shifting behavioural trends, as well as provide an understanding about how banks are performing in this critical area.

“By extension, understanding of the satisfaction levels with different services is important to financial institutions as it is the main form of contact/interaction with their customers.”

For comments or more information please contact:
Suela Qemal, General Manager - Financial Services & Consulting
Office: +61 (3) 9629 6888

Margin of Error

The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.

Sample Size Percentage Estimate
40% – 60% 25% or 75% 10% or 90% 5% or 95%
1,000 ±3.0 ±2.7 ±1.9 ±1.3
5,000 ±1.4 ±1.2 ±0.8 ±0.6
7,500 ±1.1 ±1.0 ±0.7 ±0.5
10,000 ±1.0 ±0.9 ±0.6 ±0.4
20,000 ±0.7 ±0.6 ±0.4 ±0.3
50,000 ±0.4 ±0.4 ±0.3 ±0.2

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