Table 1

Net Banking Timeline (U.S.)
number of households using Web banking*

Source: Online Banking Report estimates, plus or minus 25%, 5/00

*Includes anyone using the Web to view statements and/or pay bills, does NOT include dial-up banking  **Originally, the Net-only unit of Carolina First was focused on the Atlanta area and named Atlanta Internet Bank

Wells Fargo began posting customer statements on the Web exactly five years ago but it wasn’t until year-end 1997 that the total U.S. Net banking user base hit 1 million (OBR estimates, plus or minus 25%). At that time Net banking accounted for a little more than 1 of every 5 online banking users. Since then much of the growth in online banking has been on the Web, which now accounts for about 7 of every 10 users (see chart right). This trend is expected to continue approaching 100% within 10 years.

Table 2

Web Banking vs. Total Online Banking (U.S.)

millions of households primarily using each method

Source: Online Banking Report estimates, 5/00 (+/- 25%);
CAGR = compound annual growth rate

¹Includes any access method other than Web: Quicken, Money, MYM, etc.

²Per OBR mid-range forecast