Luxembourg residents in top 3 for banking on the go

banking

Luxembourg residents recorded the third highest use of mobile banking in Europe, the ING International Survey on Mobile Banking 2016 suggests.

According to its survey conducted with 500 people in the Grand Duchy, over half (52%) of those polled said they used mobile banking and a further 10% said they planned to over the next 12 months. Only in the UK (55%) and Netherlands (63%) was take-up higher.

Luxembourg also showed the second-fastest annual growth in mobile banking take-up, rising 11 points from 2015. It was beaten to the top spot by Austria where the proportion of respondents using mobile banking rose by 13%.

Conversely, Luxembourg and Austria had the least positive views about mobile banking when it comes to the impact it had on their ability to manage their money.

Only half said that mobile banking had changed the way they managed their finances for the better.

Luxembourg-based respondents were the most negative about bitcoin, with just 14% saying it was the future of spending online, compared to 33% on average in Europe.

Luxembourg respondents were also most sceptical about contactless payments. Only a quarter said that they felt their money was secure in contactless payments, compared to 28% in 2015. The European average was 46% in 2016.

Finally, Luxembourg respondents were the least likely to have paid for something using a mobile applications, with just one in five admitting to having done so compared to four out of ten across Europe.