Digital Only Banking Adoption 2022
8% of adults in the United States have a digital bank account.
As it stands, 8% of US adults have a digital bank account, an increase of 2 percentage points from 2021 according to a recent global survey of 2,501 conducted by Finder in April 2022.
4% of American adults reported not having a digital-only banking account at all but plan to open one in the next 5 years. 3% of American adults who don’t currently have a digital-only banking account plan to open one in the next year. 2022’s figure of 8% is expected to hit 11% by 2023 and 15% by the year 2027 – an increase of 7 percentage points over the next 5 years.
Estimated number of digital bankers in the US
Men are still more likely to have a digital-only bank account
American men are more likely to have a digital bank account than women, with 10% of men compared to 6% of women saying they have an account.
People aged 18–24 are most likely to bank online
Americans ages 18–24 and 25–34 are most likely to have a digital bank account with 11% having an active service, followed by ages 35–44 (8%), 45–54 (7%), 55–64 (5%) and 65+ (5%).
Which country has the most digital bankers?
Brazil leads the way for digital bankers in 2022, with 43% of those surveyed saying they have an account. Brazil is followed by India (26%), Ireland (22%), Singapore (21%), Hong Kong (20%), United Arab Emirates (19%), Mexico (17%), Spain (17%) and South Africa (15%).
At the other end of the spectrum, the United States has the smallest percentage of adults with a digital-only bank account (8%), followed by both the Philippines and Malaysia at 13%, and Portugal and Germany with 14%.
During the previous survey, Mexico was projected to see an increase in digital bankers of 20 percentage points from 2021 to 2026, which was the highest growth rate of all of the selected countries. And that growth is expected to continue in the years to come with the number of digital bankers in Mexico projected to increase between 2022 to 2027 by almost 24 percentage points (once again the highest growth rate). The United Arab Emirates is close behind with a projected increase of 22 percentage points, followed by The Philippines (21 points) and India (19 points).
Did digital banks lose customers as a result of COVID-19?
Interestingly, 5 countries saw a drop in the number of adults who said they had a digital-only bank account from last year's survey.
Malaysia had the largest drop of 7 percentage points. The Philippines saw the second-biggest drop of 6 percentage points, while Germany saw a 5-point drop. Meanwhile, Ireland saw a drop of 3 percentage points.
However, in the majority of countries we looked we see an uptick in the number of people who say they had a digital-only bank account. Brazil sees an 11 percentage point bump in digital bankers between 2021 and 2022, with Mexico not far behind at 6 percentage points.
However, all countries are expected to see an increase again by 2027. On average, 34% of people worldwide will have a digital bank account within the next 5 years, up from an average of just 19% in 2022.
Are men or women more likely to have a digital-only bank account?
In 13 of the 14 countries surveyed, men are more likely to have a digital-only bank account. Of these, Hong Kong and the United Arab Emirates (9 points), Mexico, Singapore and Spain (8 points) had the biggest gender gaps.
Meanwhile, in Portugal, women are actually just as likely to have an online-only bank account with 14% of both men and women saying they have an account.
Adoption highest with younger peopleAcross the globe, individuals that are most likely to have a digital bank account in Brazil are ages 25–34 (55%), Malaysia ages 18–24 (20%), Philippines ages 35–44 (16%), Ireland ages 25–34 (34%), Mexico ages 25–34 (22%), Hong Kong ages 35–44 (23%), Singapore ages 18–24 (39%), United Arab Emirates ages 18–24 (31%), Germany ages 35–44 (17%), Spain ages 18–24 (22%), South Africa ages 35–44 (18%), India ages 18–24 (33%) and Portugal ages 18–24 (22%).
For all media inquiries, please contact:
Chelsea Wells-Barrett, PR, Media Relations and Communications
More guides on Finder
Top Bitcoin myths in the United States
The top 8 Bitcoin myths believed in the United States of America determined by a survey conducted by Finder.
Payment statistics 2021
Payment statistics show that 25% of Americans believe that cryptocurrency will take over fiat currency according to an online survey conducted by Finder.
States with the highest (& lowest) Christmas spirit
Iowa offers the most Christmas spirit in 2021. North Dakota is America’s Scroogiest state.
Americans will spend almost $6.1 billion on Christmas trees in 2021
Finder.com research reveals Americans will spend $6.1 billion on Christmas trees collectively in 2021, a 13.3% increase from 2020.
Don’t drink and –– invest?
7% of American adults — the equivalent of 18.7 million people — are investing under the influence of alcohol, according to a new report from Finder.com.
Financial literacy for students
According to a survey by Finder, 66.9% of American adults say they believe financial literacy classes should be required in school
Should the minimum driving age be raised?
Car accidents jump 620% for 16-year-old drivers. See how states’ minimum driving ages affect car accidents.
The United States of Crypto
Finder created an interest in crypto score based on search interest for cryptocurrencies combined with crypto infrastructure for each state. California has the highest interest in cryptocurrency in the United States.
Most diverse cities in the US
Finder compared 209 cities to find which were the most and least diverse. Scottsdale, Arizona was the least diverse city based on our analysis.
11 pieces of investment advice from experts for beginners
What is good and bad investment advice?
Ask an Expert