U.S. consumers and electronic banking, 1995-2003

Federal Reserve Bulletin,  Winter, 2004  by Christoslav E. Anguelov,  Marianne A. Hilgert,  Jeanne M. Hogarth

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(13.) Mantel, "Why Don't Consumers Use Electronic Banking Products?"

(14.) Unless otherwise noted, differences discussed in the text are statistically significant at the 95 percent level of confidence or higher.

(15.) Although vendors are marketing many stored-value cards as "debit" cards, the focus here is on debit cards tied to a consumer bank account.

(16.) Arthur B. Kennickell and Myron L. Kwast, "Who Uses Electronic Banking? Results From the 1995 Survey of Consumer Finances" (paper presented at the annual meeting of the Western Economic Association, Seattle, Washington, July 1997) (www.federalreserve.gov/pubs/feds/1997/199735/199735pap.pdf); Eun-Ju Lee and Jinkook Lee, "Haven't Adopted Electronic Financial Services Yet? The Acceptance and Diffusion of Electronic Banking Innovations," Financial Counseling and Planning, vol. 11, no. 1 (2000), pp. 49-60; Robert Rugimbana, "Predicting Automated Teller Machine Usage: The Relative Importance of Perceptual and Demographic Factors," International Journal of Bank Marketing, vol. 13, no. 4 (1995), pp. 26-32; and Valerie A. Zeithaml and Mary C. Gilly, "Characteristics Affecting the Acceptance of Retailing Technologies: A Comparison of Elderly and Nonelderly Consumers," Journal of Retailing, vol. 63, no. 1 (1987), pp. 49-86.

(17.) See, for example, Jane Kolodinsky and Jeanne Hogarth, "Closing the Digital 'Age' Divide: Adoption of Electronic Financial Services by Consumers Age 60+," Consumer Interests Annual, vol. 50 (forthcoming 2004).

(18.) Matthew Josefowicz and Sang Lee, "Ethnic Minorities, Financial Services, and the Web" (Celent Communications, January 2003); and Lee and Lee, "Haven't Adopted Electronic Financial Services Yet?"

(19.) U.S. Department of Commerce, National Telecommunications and Information Administration, "A Nation Online: How Americans Are Expanding Their Use of the Internet," February 2002 (www.ntia.doc.gov/ntiahome/dn/index.html).

(20.) "The UCLA Internet Report: Surveying the Digital Future, Year Three" (report prepared at the UCLA Center for Communication Policy), February 2003 (www.ccp.ucla.edu/pdf/ucla-internet-report-year-three.pdf).

(21.) See Fred D. Davis, "Perceived Usefulness, Perceived Ease of Use, and User Acceptance of Information Technology," MIS Quarterly, vol. 1 (September 1989), pp. 319-39; Everett M. Rogers, Diffusion of Innovations (Free Press, 1995); and David Gefen and Detmar W. Straub, "Gender Differences in the Perception and Use of E-Mail: An Extension to the Technology Acceptance Model," MIS Quarterly, vol. 21 (December 1997), pp. 389-99.

(22.) Susannah Fox, "Online Banking: A Pew Internet Project Data Memo" (Pew Research Center, November 2002) (www.pewinternet.org/ reports/pdfs/PIP_Online_Banking.pdf); and Andrew Lockett and Dale Littler, "The Adoption of Direct Banking Services," Journal of Marketing Management, vol. 13 (November 1997), pp. 791-811.