Netherlands, Finland lead online banking in Europe

Netherlands, Finland lead online banking in Europe

The Dutch and Finnish are the biggest online bank users, according to figures of online banking habits across Europe.

Nearly 4 in 5 Dutch people aged 16-75 do their banking online according to Statistics Netherlands. This brings the Netherlands to the top of the European Union. The share of people banking online has increased by more than half since 2005. The older generations have caught up.

79 percent of the Dutch aged 16-75 engaged in internet banking in 2011. The Netherlands together with Finland have the highest share of internet banking in the European Union. In Bulgaria and Rumania there is hardly any internet banking. In the EU An average of 37 percent of the 16-75 year-olds does their banking online.

Internet banking booming

The Dutch population has started online banking with a vengeance in recent years. Between 2005 and 2011 online banking rose from 50 to 79 percent. Growth occurred in all age groups. The share of online banking among 16-25 year-olds rose from 55 to 83 percent.

The share that grew relatively fastest was among 55-75 year-olds. Between 2005 and 2011 the share of the older online banking population doubled to over 60 percent. The growth rate has levelled off in recent years, which may indicate that internet banking has almost reached its saturation point.

One in ten uses the internet for other financial services as well

In 2011 nearly 10 percent of the Dutch aged 16-75 also used the internet for other financial services such as buying shares. This is more than double the number that did so in 2005. The use of the internet for these kinds of financial transactions increased particularly among 16-25 year-olds in recent years.

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