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Young Taiwanese prefer in-person rather than online banking: poll

Via Focus Taiwan : Most bank customers in Taiwan between the ages of 18 and 24 prefer to conduct their transactions in person rather than online, even more so than older customers, according to a survey by global information technology company Unisys.

In the survey that was conducted last September, it was found that 54 percent of Taiwan customers in the 18-24 age group favored visiting a bank in person for transactions of over NT$10,000 (US$312.5) instead of using the bank’s website or mobile banking app.

In comparison, only 38 percent of Taiwan customers in the 25-34 age group said they preferred in-person banking over the other two choices, while 32 percent in the 35-49 age category and 35 percent of over-50 customers indicated that they would rather go into a bank branch for such transactions, according to the poll.

For transactions of under NT$10,000, it was found that 18-24 year-olds in Taiwan were still more likely than older customers to visit a bank, as indicated by 30 percent of them, compared with 22 percent in both the 25-34 and 35-49 age groups, and 24 percent in over-50 category.

In general, 39 percent of Taiwanese said they preferred in-person visits to a bank for transactions of NT$10,000 or more, which was the second-highest percentage among the seven Asia-Pacific countries and areas in the survey.

Customers in the Philippines showed the highest preference for in-person transactions of NT$10,000 or more, as indicated by 54 percent, while Hong Kong was third with 30 percent, followed by Australia 29 percent, Malaysia 27 percent, Singapore 20 percent and New Zealand 18 percent, according to the survey.

The Philippines also showed the highest percentage (37 percent) in terms of customers who favor in-person banking for transactions of less than NT$10,000, followed by Taiwan with 24 percent, Australia 19, percent, Hong Kong 16 percent, Malaysia 13 percent, Singapore 10 percent and New Zealand 7 percent, according to the survey.

The Unisys Banking Insights Survey provides insights into the attitudes of banking customers in Taiwan, Australia, Hong Kong, Malaysia, New Zealand and the Philippines, according to the information technology company.

The online survey was conducted in September 2016 with a nationally representative sample of at least 1,000 people over the age of 18 in each country, the company said.

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