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Standard errors tables—2010 Survey of Consumer Payment Choice Table 1 Current Ownership of Accounts and Account Access Technologies Percentage of consumers 2008ʳ 2009ʳ 2010 Bank accounts Checking............................................................................................................................... Savings.................................................................................................................................. Traditional or passbook..................................................................................................... Money market.................................................................................................................... With check privileges..................................................................................................... 2.0 2.2 2.4 na na na 1.5 1.6 1.7 1.7 1.3 1.0 1.4 1.4 1.8 1.8 1.2 0.9 Bank account features Primary checking account with earned interest..................................................................... Overdraft protection.............................................................................................................. 2.6 2.7 1.7 1.6 1.7 1.5 Bank account access technologies Blank paper checks............................................................................................................... ATM or debit card................................................................................................................ ATM card.......................................................................................................................... Debit card.......................................................................................................................... Telephone banking................................................................................................................ Online banking...................................................................................................................... Mobile phone........................................................................................................................ Smart phone (iPhone, Android, BlackBerry, etc.)............................................................ Mobile banking..................................................................................................................... na 2.2 2.3 2.3 2.6 2.5 na na 2.0 1.7 1.6 1.5 1.6 1.7 1.8 1.2 na 1.0 1.6 1.6 1.7 1.6 1.7 1.7 0.9 1.6 1.2 Nonbank payment accounts Online payment service provider.......................................................................................... na 1.4 1.4 NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-1 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 2 Historical Ownership and Discarding of Accounts and Account Access Technologies Percentage of consumers Ever owned 2008ʳ 2009ʳ 2010 Bank accounts Checking............................................................................................................................... Savings................................................................................................................................. Traditional or passbook..................................................................................................... Money market................................................................................................................... Money market with check privileges............................................................................. 1.7 1.8 1.8 na na na 0.9 0.9 1.1 1.1 1.6 na 0.9 0.9 1.1 1.1 1.5 na Bank account features Primary checking account bears interest............................................................................... Overdraft protection............................................................................................................. na na na na na na Bank account access technologies Blank paper checks............................................................................................................... ATM or debit card................................................................................................................ ATM card.......................................................................................................................... Debit card.......................................................................................................................... Telephone banking............................................................................................................... Online banking..................................................................................................................... Mobile banking.................................................................................................................... na 2.0 2.7 2.1 2.6 2.5 na na 1.1 1.6 1.3 1.7 1.7 1.1 na 1.1 1.6 1.3 na 1.5 1.4 na na na Discarded* 2008ʳ 2009ʳ 2010 Deposit accounts Bank accounts Checking............................................................................................................................... Savings................................................................................................................................. Traditional or passbook..................................................................................................... Money market................................................................................................................... Money market with check privileges............................................................................. na 1.2 1.4 1.9 na na na na 1.3 1.3 1.5 1.6 1.1 na na 1.2 1.2 1.6 1.6 1.0 na Bank account features Primary checking account bears interest............................................................................... Overdraft protection............................................................................................................. na na na na na na Bank account access technologies Blank paper checks............................................................................................................... ATM or debit card................................................................................................................ ATM card.......................................................................................................................... Debit card.......................................................................................................................... Telephone banking............................................................................................................... Online banking..................................................................................................................... Mobile banking.................................................................................................................... na 1.3 2.3 1.2 1.1 0.7 na na 1.3 1.7 1.3 0.9 1.2 0.2 na 1.3 1.6 1.2 na 1.2 0.5 Nonbank payment accounts Online payment service provider.......................................................................................... na na na Nonbank payment accounts Online payment service provider.......................................................................................... * "Discarded" refers to the difference between historical and current ownership rates. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-2 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 3 Primary Bank Account Holdings, by Type of Account and Financial Institution Percentage of consumers 2008ʳ 2009ʳ 2010 Primary checking account Commercial bank................................................................................................................... Savings and loan.................................................................................................................... Credit union........................................................................................................................... Brokerage............................................................................................................................... Internet bank.......................................................................................................................... Other...................................................................................................................................... 2.5 0.5 1.7 na 0.4 0.6 1.8 0.8 1.3 0.1 0.4 0.4 1.8 1.0 1.2 0.2 0.2 0.7 Primary savings account Commercial bank................................................................................................................... Savings and loan.................................................................................................................... Credit union........................................................................................................................... Brokerage............................................................................................................................... Internet bank.......................................................................................................................... Other...................................................................................................................................... 2.6 0.5 2.2 na 0.6 0.6 1.5 0.7 1.4 0.3 0.4 0.3 1.5 0.7 1.3 0.2 0.3 0.6 Percentage of account adopters* 2008ʳ 2009ʳ 2010 Primary checking account Commercial bank................................................................................................................... Savings and loan.................................................................................................................... Credit union........................................................................................................................... Brokerage............................................................................................................................... Internet bank.......................................................................................................................... Other...................................................................................................................................... 2.1 0.6 1.9 na 0.5 0.6 1.6 0.9 1.4 0.1 0.4 0.5 1.6 1.1 1.3 0.3 0.3 0.8 Primary savings account Commercial bank................................................................................................................... Savings and loan.................................................................................................................... Credit union........................................................................................................................... Brokerage............................................................................................................................... Internet bank.......................................................................................................................... Other...................................................................................................................................... 2.8 0.7 2.7 na 0.8 0.8 1.9 1.0 1.9 0.5 0.6 0.4 1.9 1.1 1.8 0.4 0.4 0.9 * Adopters are respondents who have identified themselves as owning and/or using that type of account. For example, 1.6% of checking account adopters identified "commercial bank" as the location of their primary checking account in 2010. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-3 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 4 Current Adoption of Payment Instruments* Percentage of consumers 2008ʳ 2009ʳ 2010 Paper instruments Cash†.................................................................................................................................... Check.................................................................................................................................... Money order‡ ....................................................................................................................... Traveler's check‡ .................................................................................................................. 1.6 1.6 2.2 2.2 0.8 0.0 0.1 1.7 1.7 0.6 0.0 0.0 1.6 1.5 0.7 Payment cards Debit..................................................................................................................................... Credit.................................................................................................................................... Prepaid.................................................................................................................................. 2.0 2.3 2.5 1.6 1.4 1.6 1.9 1.6 1.4 1.6 1.8 1.6 Electronic payments Online banking bill payment................................................................................................. Bank account number payment‡........................................................................................... 2.3 2.6 2.5 1.8 1.7 1.8 1.7 1.7 1.8 Other means of payment Direct deduction from income‡............................................................................................. 2.4 1.2 1.2 * Adoption means the consumer had the instrument, unless otherwise noted. † Adoption means the consumer used the instrument in the given year, held it on person, held it on property, or had obtained it at least once in the given year ‡ Adoption means the consumer used the instrument or method in a given year. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. Survey of Consumer Payment Choice Version of January 2014 T-4 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 5 Historical Adoption and Discarding of Payment Instruments* Percentage of consumers Ever adopted 2008ʳ 2009ʳ 2010 Paper instruments Cash†.................................................................................................................................. Check.................................................................................................................................. Money order‡...................................................................................................................... Traveler's check‡................................................................................................................. na na na na na na 1.3 1.8 na na 1.4 1.8 Payment cards Debit................................................................................................................................... Credit.................................................................................................................................. Prepaid................................................................................................................................ 2.1 2.1 2.6 1.3 1.6 1.8 1.3 1.6 1.8 Electronic payments Online banking bill payment................................................................................................. Bank account number payment‡........................................................................................... 2.6 na 1.8 na 1.8 na Other means of payment Direct deduction from income‡............................................................................................. na na na Discarded** 2008ʳ 2009ʳ 2010 Paper instruments Cash†.................................................................................................................................. Check.................................................................................................................................. Money order‡...................................................................................................................... Traveler's check‡................................................................................................................. na na na na na na 1.7 1.7 na na 1.7 1.7 Payment cards Debit................................................................................................................................... Credit.................................................................................................................................. Prepaid................................................................................................................................ 1.2 1.8 2.1 1.3 1.6 1.5 1.2 1.5 1.4 Electronic payments Online banking bill payment................................................................................................. Bank account number payment‡........................................................................................... 1.0 na 1.1 na 1.0 na Other means of payment Direct deduction from income‡............................................................................................. na na na * Adoption means the consumer had the instrument, unless otherwise noted. † Adoption means the consumer used the instrument in the given year, held it on person, held it on property, or had obtained it at least once in the given year ‡ Adoption means the consumer used the instrument in a given year. ** "Discarded" refers to the difference between historical and current adoption rates. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-5 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 6 Current Adoption of Payment Instruments, by Instrument Features* Percentage of consumers 2008ʳ 2009ʳ 2010 Debit cards Rewards................................................................................................................................ 2.3 2.1 1.6 1.4 1.6 1.4 Credit cards† Rewards................................................................................................................................ Nonrewards........................................................................................................................... 2.5 2.7 2.6 1.9 1.7 1.6 1.8 1.8 1.6 General purpose.................................................................................................................... Rewards............................................................................................................................. Nonrewards........................................................................................................................ na na na 1.9 1.6 1.5 1.8 1.7 1.5 Charge................................................................................................................................... Rewards............................................................................................................................. Nonrewards........................................................................................................................ na na na 1.1 0.8 0.7 1.1 0.8 0.6 Branded................................................................................................................................. Rewards............................................................................................................................. Nonrewards........................................................................................................................ na na na 1.6 1.2 1.2 1.6 1.3 1.3 Prepaid cards‡ General purpose.................................................................................................................... Merchant specific.................................................................................................................. Payroll**............................................................................................................................... Government issued................................................................................................................ Electronic benefits transfer (EBT)**................................................................................. 1.6 na na na na na 1.6 1.3 1.1 0.5 na 1.1 1.6 1.5 1.2 0.7 0.8 na Reloadable............................................................................................................................ na 1.2 1.2 Bought for own use............................................................................................................... Received from others............................................................................................................ Both bought and received..................................................................................................... 1.1 1.5 0.9 na na na na na na Contactless Debit card.............................................................................................................................. Credit card............................................................................................................................. Prepaid card.......................................................................................................................... Electronic toll payment......................................................................................................... Key fob................................................................................................................................. Mobile phone††.................................................................................................................... 2.7 2.3 2.6 1.7 1.4 0.5 na 1.4 1.1 0.9 0.6 0.8 0.4 0.5 1.6 1.3 1.0 0.8 1.2 0.3 0.3 * Adoption means the consumer had the instrument, unless otherwise noted. †General purpose credit cards have a network logo such as Visa, MasterCard, Discover, or American Express; Branded cards also have a merchant's logo on the card. Charge cards require full payment of the balance at the end of each billing period. ‡ General purpose prepaid cards have a credit card network or PIN network logo and can be used at any merchant or retailer that accepts cards from that network. Specific purpose prepaid cards, such as gift cards or public transportation cards, are limited in use to one or several merchants, retailers, or service providers. ** Payroll cards and EBT cards may also be general purpose cards. †† Adoption means the consumer used the instrument in a given year. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-6 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 7 Number of Adopted Bank Accounts and Payment Cards* Mean number per adopter† 2008ʳ 2009ʳ 2010 Bank accounts Checking............................................................................................................................... Savings.................................................................................................................................. Traditional or passbook..................................................................................................... Money market.................................................................................................................... Money market with check privileges.............................................................................. 0.1 0.0 na 0.0 na na 0.1 0.0 0.1 0.0 0.1 na 0.1 0.0 0.0 0.0 0.0 na Nonbank payment accounts Online payment service provider.......................................................................................... na 0.1 0.1 ATM and debit cards ATM...................................................................................................................................... Debit..................................................................................................................................... 0.0 0.1 0.0 0.0 0.0 0.0 Credit Cards‡ Rewards................................................................................................................................ Nonrewards........................................................................................................................... 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 General purpose ................................................................................................................... Rewards............................................................................................................................. Nonrewards........................................................................................................................ na na na 0.1 0.0 0.1 0.1 0.0 0.1 Charge .................................................................................................................................. Rewards............................................................................................................................. Nonrewards........................................................................................................................ na na na 0.0 0.0 0.0 0.0 0.0 0.0 Branded ................................................................................................................................ Rewards............................................................................................................................. Nonrewards........................................................................................................................ na na na 0.1 0.0 0.0 0.1 0.0 0.1 Prepaid cards** General purpose.................................................................................................................... Merchant specific ................................................................................................................ Payroll††............................................................................................................................... Government issued................................................................................................................ Electronic benefits tansfer (EBT)†† ................................................................................. 0.2 na na na na na 0.1 0.1 0.1 0.0 na 0.1 0.1 0.1 0.1 0.0 0.0 na Bought for own use............................................................................................................... Received from others............................................................................................................ 0.1 0.2 na na na na *Adopters are respondents who have identified themselves as owning and/or using that type of account. † Bold-face numbers are per adopter of the instrument. The denominator for each of the subcategories is the number of adopters of the bold-faced instrument. ‡General purpose credit cards have a network logo such as Visa, MasterCard, Discover, or American Express; Branded cards also have a merchant's logo on the card. Charge cards require full payment of the balance at the end of each billing period. ** General purpose prepaid cards have a credit card network or PIN network logo and can be used at any merchant or retailer that accepts cards from that network. Specific purpose prepaid cards, such as gift cards or public transportation cards, are limited in use to one or several merchants, retailers, or service providers. †† Payroll cards and EBT cards may also be general purpose cards. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-7 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 8 Mean Number of Payment Instruments Adopted* 2008ʳ 2009ʳ 2010 9 9 9 Total Paper instruments.................................................................................................................. Card instruments................................................................................................................... Electronic instruments........................................................................................................... 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Adopter status 2008ʳ 2009ʳ 2010 Bank account nonadopters 0.4 0.1 0.2 Bank account adopters Checking and savings account adopters................................................................................ Checking account adopters, no savings................................................................................. Savings account adopters, no checking................................................................................. 0.1 0.1 0.1 0.4 0.0 0.0 0.1 0.5 0.0 0.0 0.1 0.2 Paper instrument adopters Cash adopters‡ .................................................................................................................... Check adopters...................................................................................................................... Money order adopters**........................................................................................................ Traveler's check adopters**.................................................................................................. 0.1 0.1 0.1 0.3 0.2 0.1 0.1 0.0 0.2 0.1 0.1 0.1 0.0 0.2 0.1 Payment card adopters Debit adopters....................................................................................................................... Credit adopters...................................................................................................................... Prepaid adopters.................................................................................................................... 0.1 0.1 0.1 0.2 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.1 Electronic payment adopters Online banking bill payment adopters.................................................................................. Bank account number payment adopters**........................................................................... 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 All consumers Available number of payment instruments† *Adoption means the consumer had the instrument or account, unless otherwise noted. † The nine available payment instruments are cash, check, money order, traveler's check, debit card, credit card, prepaid card, online banking bill payment, and bank account number payment (in 2008, bank account number payment was called "electronic bank account deduction"). ‡ Adoption means the consumer used the instrument in the given year, held it on person, held it on property, or had obtained it at least once in the given year. **Adoption means the consumer used the instrument or method in a given year NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. Survey of Consumer Payment Choice Version of January 2014 T-8 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Cash Holdings, Withdrawals, and Prepaid Card Reloadings Dollars per consumer, except as noted Mean Median 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 138 23 126 24 4 24 50 4 49 10 3 3 8 2 3 6 1 3 Excluding large-value holdings*.................................................................. On person.................................................................................................. On property............................................................................................... 8 4 8 8 2 6 6 2 5 8 2 2 5 2 3 5 1 1 Cash withdrawals per month †‡ Amount per withdrawal................................................................................ Withdrawals (number per month)................................................................. na na na 28 7 0.3 34 7 0.5 na na na 13 5 0 15 4 0 Most frequent location per month † Amount per withdrawal............................................................................. Withdrawals (number per month)............................................................. 110 16 0.5 21 7 0.1 27 8 0.2 7 4 0.2 7 1 0.2 4 4 0.2 All other locations per month † Amount per withdrawal............................................................................. Withdrawals (number per month)............................................................. na na na 16 7 0.3 16 7 0.4 na na na 1.7 4 0.0 2.0 4 0.0 Prepaid card reloadings per month † Amount per reloading, reloaders only.......................................................... Reloads, reloaders only (number per month)................................................ na na 1.6 49 30 0.4 32 9 0.4 na na 0.2 16.5 6 0.1 18.4 7 0.2 Reloaded in the past 12 months (percentage of consumers)......................... Reloaded in the past 12 months (percentage of adopters**)......................... 1.1 na 0.9 4.5 0.9 4.8 na na na na na na Cash holdings On person..................................................................................................... On property................................................................................................... * Estimates are for the subsample of respondents with cash holdings of less than or equal to the 95th percentile (Approximately $1,100 for total, $280 for on person, and $1,000 on property in 2008; $960 for total, $250 for on person, and $800 on property in 2009; and $1,200 for total, $260 for on person, and $1,000 on property in 2010.) † Amount per month is obtained from the amount per withdrawal times the number of withdrawals, calculated for each consumer. For further information please see Section 5.2, "Cash Values" in the technical appendix. ‡ In 2009 and 2010, this number is the withdrawal-weighted average of typical amounts per withdrawal from the primary and all other locations. ** Consumers who have adopted a reloadable prepaid card. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Dollar values are not adjuted for inflation. Survey of Consumer Payment Choice Version of January 2014 T-9 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 10 Cash Holdings, by Adoption of Bank Accounts and Payment Instruments*†‡ Dollars per consumer Mean Median Adopters 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Bank account On person........................................................................................... On property........................................................................................ 147 24 134 25 3 26 47 4 47 10 3 4 7 1 3 7 1 3 ATM or debit card On person........................................................................................... On property........................................................................................ 163 26 148 28 3 28 27 3 28 8 2 3 5 1 3 5 1 2 Credit card On person........................................................................................... On property........................................................................................ 40 19 36 26 4 26 61 5 60 10 3 4 5 2 3 6 3 3 Prepaid card On person........................................................................................... On property........................................................................................ 37 8 36 50 6 49 40 4 40 10 4 8 10 4 6 11 3 4 Money order** On person........................................................................................... On property........................................................................................ 74 48 37 166 13 166 16 8 11 13 4 6 Median 10 3 3 Nonadopters 28 10 25 Mean 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Bank account On person........................................................................................... On property........................................................................................ 199 114 99 65 26 52 318 29 316 39 24 na 131 22 47 17 12 5 ATM or debit card On person........................................................................................... On property........................................................................................ 101 59 63 39 13 35 260 20 257 34 18 22 38 10 24 20 7 10 Credit card On person........................................................................................... On property........................................................................................ 592 79 548 53 9 51 86 9 83 14 4 6 9 3 5 6 2 1 Prepaid card On person........................................................................................... On property........................................................................................ 167 28 152 26 5 26 76 6 75 13 2 2 9 3 3 8 4 2 Money order** On person........................................................................................... On property........................................................................................ 172 27 158 31 4 31 41 4 40 12 4 4 8 4 3 9 2 3 *On person is defined as cash held in the respondent's wallet, purse, and/or pocket. †On property is defined as cash held elsewhere by the respondent (in the respondents home, car, office, etc.) instead of on person. ‡ Adoption means the consumer had the instrument or account, unless otherwise noted. **Adoption means the consumer used the instrument in a given year. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. Dollar values are not adjuted for inflation. Survey of Consumer Payment Choice Version of January 2014 T-10 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 11 Monthly Cash Withdrawals, by Most Frequent Location* Dollars per consumer per location, except as noted Mean Median 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 ATM† Amount per withdrawal...................................................................... Withdrawals (number per month)...................................................... na na na 26 5 0.2 16 6 0.4 na na na 6 4 0.3 14 4 0.2 Bank† Amount per withdrawal...................................................................... Withdrawals (number per month)...................................................... na na na 33 15 0.1 49 14 0.4 na na na 16 10 0.1 25 7 0.1 Check† Amount per withdrawal...................................................................... Withdrawals (number per month)...................................................... na na na 146 62 0.6 328 76 0.6 na na na 252 na na na na na Retail† Amount per withdrawal...................................................................... Withdrawals (number per month)...................................................... na na na 25 11 0.6 13 2 0.3 na na na 10 5 0.2 7 2 0.3 Employer† Amount per withdrawal...................................................................... Withdrawals (number per month)...................................................... na na na 191 60 1.8 231 58 0.5 na na na 228 79 0.7 431 98 0.8 Family or friend† Amount per withdrawal...................................................................... Withdrawals (number per month)...................................................... na na na 38 10 0.3 103 17 1.1 na na na 15 8 0.3 17 5 0.2 Other† Amount per withdrawal...................................................................... Withdrawals (number per month)...................................................... na na na 155 132 0.6 140 42 2.4 na na na 179 69 0.4 146 31 0.7 Most frequent location 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 ATM...................................................................................................... Bank teller............................................................................................. Check cashing store............................................................................... Retail or grocery store........................................................................... Employer............................................................................................... Family or friend..................................................................................... Other...................................................................................................... 2.6 2.3 0.7 1.2 1.2 0.9 0.2 1.7 1.3 0.9 0.9 1.0 1.0 0.7 1.7 1.3 0.3 0.8 1.2 1.2 0.6 na na na na na na na na na na na na na na na na na na na na na * The amount for each location is the dollar amount of withdrawals at the specified location, only by consumers who named that location as their most frequent location. † Monthly amount is obtained from the amount per withdrawal times the number of withdrawals, calculated for each consumer. For further information please see Section 5.2, "Cash Values" in the technical appendix. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Dollar values are not adjuted for inflation. Survey of Consumer Payment Choice Version of January 2014 T-11 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 12 Monthly Cash Withdrawals, by Adoption of Bank Accounts and Payment Instruments*† Dollars per month, except as noted Mean Median Adopters 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Bank account Amount per withdrawal...................................................................... Withdrawals (number per month)....................................................... 114 15 0.5 27 6 0.3 32 7 0.5 7 3 0.2 11 4 0.3 15 4 0.2 ATM or debit card Amount per withdrawal...................................................................... Withdrawals (number per month)....................................................... 125 8 0.6 29 7 0.4 34 7 0.6 7 2 0.4 12 3 0.3 15 3 0.2 Credit card Amount per withdrawal...................................................................... Withdrawals (number per month)....................................................... 35 16 0.6 23 6 0.4 31 7 0.4 7 4 0.2 9 4 0.2 15 4 0.2 Prepaid card Amount per withdrawal...................................................................... Withdrawals (number per month)....................................................... 39 11 0.4 37 12 0.5 48 13 1.0 9 9 0.4 19 6 0.3 24 6 0.2 Money order‡ Amount per withdrawal...................................................................... Withdrawals (number per month)....................................................... 146 35 1.9 57 20 0.7 81 18 0.9 73 14 0.6 54 12 0.3 44 7 0.3 Mean Median Nonadopters 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Bank account Amount per withdrawal...................................................................... Withdrawals (number per month)....................................................... 426 111 1.6 137 59 1.3 203 53 2.5 374 83 1.7 284 58 0.8 172 66 0.9 ATM or debit card Amount per withdrawal...................................................................... Withdrawals (number per month)....................................................... 201 90 1.1 75 27 0.6 105 25 1.2 61 18 0.4 60 25 0.5 69 41 0.5 Credit card Amount per withdrawal...................................................................... Withdrawals (number per month)....................................................... 470 39 1.1 74 20 0.6 83 17 1.4 39 8 0.7 57 10 0.2 43 9 0.4 Prepaid card Amount per withdrawal...................................................................... Withdrawals (number per month)....................................................... 132 19 0.6 37 9 0.4 45 9 0.5 12 2 0.3 14 5 0.3 11 5 0.3 Money order‡ Amount per withdrawal...................................................................... Withdrawals (number per month)....................................................... 133 18 0.5 30 6 0.4 31 8 0.6 7 4 0.2 7 5 0.2 8 5 0.2 *Monthly amount is obtained from the amount per withdrawal times the number of withdrawals, calculated for each consumer. For further information please see Section 5.2, "Cash Values" in the technical appendix. † Adoption means the consumer had the instrument or account, unless otherwise noted. ‡Adoption means the consumer used the instrument in a given year. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. Dollar values are not adjuted for inflation. Survey of Consumer Payment Choice Version of January 2014 T-12 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 13 Share of Consumers Accessing Bank Account and Other Payment Practices Monthly Annual Percentage of consumers 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Bank account access Bank branch visit*.......................................................................... ATM............................................................................................... Telephone banking......................................................................... Online banking............................................................................... Mobile banking............................................................................... na na na na na na na na na na na na na na na na na na na na na na na na 1.5 1.8 1.7 1.6 1.8 1.0 1.5 1.8 1.8 1.6 1.8 1.2 Other payment practices Cash withdrawals............................................................................ Online payment service provider.................................................... Online payment service provider, adopters only......................... Prepaid card reloading†.................................................................. Prepaid card reloading, reloaders only†...................................... Mobile payments............................................................................ Text/SMS.................................................................................... Contactless.................................................................................. Other........................................................................................... 2.0 na na 1.0 6.9 na na na na 1.0 na na 0.8 5.7 na na na na 1.1 na na 0.7 7.0 na na na na 1.8 na na 1.1 1.4 na na na na 0.6 1.2 2.5 0.9 4.0 0.7 na 0.5 na 0.4 1.2 2.6 0.9 0.9 0.6 na 0.3 na Monthly Annual Percentage of adopters 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Bank account access Bank branch visit*.......................................................................... ATM............................................................................................... Telephone banking......................................................................... Online banking............................................................................... Mobile banking............................................................................... na na na na na na na na na na na na na na na na na na na na na na na na 0.5 1.5 1.3 2.2 1.0 3.4 0.6 1.5 1.4 2.1 1.2 2.9 1.3 na 6.9 na na na na 1.0 na 5.7 na na na na 1.1 na 7.0 na na na na 0.9 na 1.4 na na na na 0.6 2.5 4.0 na 0.6 0.5 na 0.4 2.6 0.9 na 0.6 0.3 na Other payment practices Cash withdrawals............................................................................ Online payment service provider.................................................... Prepaid card reloading, reloaders only†...................................... Mobile payments............................................................................ Text/SMS.................................................................................... Contactless.................................................................................. Other........................................................................................... * Bank branch visit is defined as visiting a bank and interacting with a teller or other bank employee. It does not include visiting an ATM located at a bank branch. † A reloader has adopted a reloadable prepaid card and, in the past 12 months, has added money to it. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-13 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 14 Share of Consumers or Adopters Using Payment Instruments Monthly Annual Percentage of consumers 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Paper instruments Cash........................................................................................ Check..................................................................................... Money order........................................................................... Traveler's check...................................................................... 1.8 2.1 2.7 1.5 0.3 0.8 1.1 1.9 1.3 0.1 0.8 1.0 1.8 1.3 0.0 1.8 2.1 2.6 2.2 0.8 0.7 1.0 1.9 1.4 0.6 0.7 0.9 1.8 1.4 0.5 Payment cards Debit....................................................................................... Credit...................................................................................... Prepaid................................................................................... 2.1 2.6 2.6 1.0 1.6 1.7 1.8 1.0 1.6 1.7 1.8 1.0 2.1 2.6 2.6 1.1 1.6 1.7 1.8 1.2 1.6 1.7 1.8 1.1 Electronic payments Online banking bill payment.................................................. Bank account number payment.............................................. 2.5 2.7 2.5 1.8 1.5 1.7 1.7 1.7 1.8 2.5 2.7 2.5 1.8 1.6 1.8 1.7 1.7 1.8 Other means of payment Direct deduction from income................................................ 2.4 1.2 1.2 2.4 1.2 1.2 Monthly Percentage of adopters†‡ Annual 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Paper instruments Cash**.................................................................................... Check..................................................................................... Money order*††..................................................................... Traveler's check*††................................................................ 1.0 1.6 2.4 6.3 6.4 0.8 1.1 1.6 3.9 0.8 0.7 1.0 1.4 3.9 0.8 0.9 1.5 2.3 0.0 0.0 0.7 1.0 1.5 3.9 3.3 0.7 0.9 1.2 3.4 6.0 Payment cards Debit....................................................................................... Credit...................................................................................... Prepaid................................................................................... 1.1 2.2 1.4 4.7 0.9 1.2 1.4 2.8 0.9 1.3 1.4 2.5 0.9 2.1 1.1 4.9 0.9 1.1 1.3 2.9 0.9 1.2 1.2 2.6 Electronic payments Online banking bill payment.................................................. Bank account number payment*††........................................ 1.5 3.9 0.8 1.3 2.1 1.4 1.1 2.0 1.3 1.3 3.7 0.0 0.9 1.9 0.0 0.7 1.8 0.0 Other means of payment Direct deduction from income*††.......................................... 1.3 1.8 2.0 0.0 0.0 0.0 * Estimates are 100 percent whenever adoption is defined solely as annual incidence of use. † Each payment instrument uses adopters of that particular payment instrument as the denominator. For example, in 2010, 1 percent of cash adopters used cash in a typical month. ‡Adoption means the consumer had the instrument, unless otherwise noted. **Adoption means the consumer used the instrument in the given year, held it on person, held it on property, or had obtained it at least once in the given year. †† Adoption means the consumer used the instrument or method in a given year. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. Survey of Consumer Payment Choice Version of January 2014 T-14 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 15 Share of Consumers Making a Transaction, by Type of Transaction Monthly Annual 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 1.7 2.1 1.7 0.4 1.6 0.6 0.3 1.5 0.6 1.7 2.1 1.7 0.0 1.5 0.6 0.1 1.4 0.6 Bill payments Automatic..................................................................................... Direct deduction from income.................................................. Other automatic........................................................................ Online.......................................................................................... By mail, in person, or by phone................................................... 1.8 2.7 2.4 2.7 2.5 2.2 0.8 1.7 1.2 1.7 1.8 1.4 0.8 1.8 1.2 1.8 1.8 1.3 1.8 2.7 2.4 2.7 2.5 2.0 0.7 1.7 1.2 1.7 1.8 1.2 0.5 1.8 1.2 1.8 1.8 1.1 Nonbill payments Retail goods and services Online or electronic...................................................................... By mail, in person, or by phone................................................... Retail goods.............................................................................. Services..................................................................................... 1.7 na 2.7 na 1.8 2.3 0.6 0.6 1.7 0.7 0.8 1.4 0.6 0.8 1.7 0.7 0.9 1.0 1.7 na 2.4 na 1.8 2.2 0.5 0.5 1.7 0.6 0.7 1.2 0.6 0.8 1.7 0.7 0.9 1.0 Person to person Online or electronic...................................................................... By mail, in person, or by phone................................................... na na na 1.7 1.1 1.7 1.7 1.2 1.7 na na na 1.7 1.2 1.7 1.5 1.3 1.6 Any Transaction Online or electronic By mail, in person, or by phone * Adjusted for changes from 2008 to 2009 in the survey definition of transaction categories to make the two years directly comparable. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-15 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 16 Share of Consumers Using Payment Instrument, by Type of Transaction Nonbill Payments Bill Payments Monthly Retail, services, and person to person* Online 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Paper instruments Cash............................................................ Check or money order................................. Check....................................................... Money order............................................ Traveler's check.......................................... 2.6 2.3 2.8 na 1.4 na 1.5 1.9 1.8 1.8 1.2 na 1.4 1.9 1.8 1.8 1.2 na 2.6 na 2.6 na na na 1.4 na 1.4 1.3 0.9 na 1.2 na 1.2 1.1 0.8 na 2.0 2.1 2.7 na 1.1 na 1.1 1.2 1.7 1.7 0.9 na 0.9 1.0 1.7 1.7 1.0 na Payment cards Debit........................................................... Credit.......................................................... Prepaid........................................................ 2.4 2.6 2.7 0.7 1.7 1.7 1.4 0.5 1.7 1.7 1.6 0.7 2.6 2.5 2.2 0.7 1.7 1.5 1.3 0.6 1.7 1.6 1.3 0.9 2.2 2.7 2.6 1.0 1.7 1.7 1.7 1.0 1.7 1.7 1.8 0.9 Electronic payments Online banking bill payment....................... Bank account number payment................... 2.5 2.7 2.8 1.8 1.5 1.7 1.8 1.7 1.7 2.5 na 2.5 1.4 na 1.4 1.5 na 1.5 na na na na na na na na na Other means of payment Direct deduction from income.................... 2.4 1.2 1.2 na na na na na na Nonbill Payments Bill Payments Annual Retail, services, and person to person* Online 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Paper instruments Cash............................................................ Check or money order................................. Check....................................................... Money order............................................ Traveler's check.......................................... 2.5 2.4 2.7 na 2.0 na 1.3 1.9 1.8 1.9 1.3 na 1.2 1.8 1.8 1.9 1.3 na 2.7 na 2.7 na na na 1.6 na 1.6 1.5 1.1 na 1.5 na 1.5 1.4 0.9 na 1.9 2.1 2.8 na 2.2 na 0.9 1.0 1.8 1.8 1.1 na 0.9 0.9 1.8 1.8 1.1 na Payment cards Debit........................................................... Credit.......................................................... Prepaid........................................................ 2.3 2.6 2.6 0.7 1.7 1.7 1.5 0.8 1.7 1.7 1.6 0.8 2.6 2.6 2.7 0.8 1.8 1.6 1.5 0.9 1.8 1.7 1.6 0.9 2.1 2.8 2.6 1.1 1.6 1.7 1.8 1.1 1.6 1.7 1.8 1.1 Electronic payments Online banking bill payment....................... Bank account number payment................... 2.5 2.7 2.8 1.8 1.6 1.7 1.7 1.7 1.8 2.8 na 2.8 1.6 na 1.6 1.6 na 1.6 na na na na na na na na na Other means of payment Direct deduction from income.................... 2.4 1.2 1.2 na na na na na na * Adjusted for changes from 2008 to 2009 in the survey definition of transaction categories to make the two years directly comparable. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-16 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 17 Share of Consumers Using Payment Instrument, by Type of Bill Payment Monthly Automatic By Mail or In Person Online 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Any instrument Excl. online banking bill payment*............. 2.7 2.7 1.7 1.7 1.8 1.7 2.5 na 1.8 na 1.8 na 2.2 na 1.4 na 1.3 na Paper instruments Cash............................................................. Check or money order................................. Check....................................................... Money order............................................. Traveler's check........................................... na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na 2.7 2.3 2.8 na 1.4 na 1.5 1.9 1.8 1.8 1.2 na 1.4 1.9 1.8 1.8 1.2 na Payment cards Debit............................................................ 2.6 2.3 1.5 1.3 1.6 1.5 2.8 2.6 1.7 1.6 1.7 1.6 2.7 2.6 1.6 1.6 1.7 1.7 Credit........................................................... Prepaid......................................................... 2.5 na 1.2 na 1.2 na 2.4 na 1.2 na 1.2 na 2.4 0.7 1.1 0.5 1.3 0.7 2.7 1.6 1.7 2.6 1.7 1.7 na na na Online banking bill payment........................ na 1.2 1.4 2.7 1.5 1.6 na na na Bank account number payment.................... 2.7 1.4 1.6 2.7 1.6 1.6 na na na Other means of payment Direct deduction from income..................... 2.4 1.2 1.2 na na na na na na Electronic payments Annual Automatic Online By Mail or In Person 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Any instrument Excl. online banking bill payment*............. 2.7 2.7 1.7 1.7 1.8 1.8 2.5 na 1.8 na 1.8 na 2.0 na 1.2 na 1.1 na Paper instruments Cash............................................................. Check or money order................................. Check....................................................... Money order............................................. Traveler's check........................................... na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na 2.6 2.4 2.7 na 2.0 na 1.3 1.9 1.8 1.9 1.3 na 1.2 1.8 1.8 1.9 1.3 na Payment cards 2.6 1.5 1.6 2.8 1.7 1.7 2.7 1.7 1.7 Debit............................................................ 2.3 1.3 1.5 2.7 1.7 1.7 2.6 1.7 1.7 Credit........................................................... 2.6 1.2 1.3 2.5 1.3 1.4 2.4 1.3 1.4 Prepaid......................................................... na na na na na na 0.7 0.8 0.8 Electronic payments Online banking bill payment........................ Bank account number payment.................... 2.7 na 2.7 1.6 1.2 1.5 1.7 1.4 1.7 2.6 2.7 2.7 1.7 1.5 1.7 1.8 1.6 1.7 na na na na na na na na na Other means of payment Direct deduction from income..................... 2.4 1.2 1.2 na na na na na na * Online banking bill pay is excluded to show direct comparison between 2008 and 2009 estimates for automatic bill payments. OBBP was not included as a payment choice for automatic bill payments in the 2008 SCPC. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-17 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 18 Share of Consumers Using Payment Instrument, by Type of Retail Goods* Percentage of consumers Monthly Total Essential Goods† Nonessential Goods† 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Any instrument 1.8 0.8 0.9 2.0 na na 2.2 na na Paper instruments Cash............................................................ Check or money order................................ Check...................................................... Money order............................................ Traveler's check.......................................... 2.1 2.1 2.7 na na na 1.3 1.4 1.5 1.4 0.7 na 1.3 1.4 1.5 1.6 0.8 na 2.7 2.7 2.3 na na na na na na na na na na na na na na na 2.7 2.7 2.4 na na na na na na na na na na na na na na na Payment cards Debit........................................................... Credit.......................................................... Prepaid........................................................ 2.2 2.8 2.6 1.0 1.7 1.7 1.7 0.9 1.7 1.8 1.7 0.9 2.4 2.8 2.7 0.9 na na na na na na na na 2.4 2.7 2.7 0.7 na na na na na na na na Electronic payments Online banking bill payment...................... Bank account number payment................... na na na na na na na na na na na na na na na na na na na na na na na na na na na Annual Total Essential Goods† Nonessential Goods† 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Any instrument 1.8 0.7 0.9 1.9 na na 2.0 na na Paper instruments Cash............................................................ Check or money order................................ Check...................................................... Money order............................................ Traveler's check.......................................... 2.0 2.1 2.7 na na na 1.2 1.2 1.6 1.6 1.0 na 1.3 1.3 1.6 na 0.9 na 2.2 2.3 2.6 na na na na na na na na na na na na na na na 2.5 2.5 2.7 na na na na na na na na na na na na na na na Payment cards Debit........................................................... Credit.......................................................... Prepaid........................................................ 2.1 2.8 2.6 1.1 1.7 1.7 1.8 1.1 1.7 1.7 1.8 1.0 2.3 2.8 2.7 1.1 na na na na na na na na 2.3 2.7 2.6 0.8 na na na na na na na na Electronic payments Online banking bill payment...................... Bank account number payment................... na na na na na na na na na na na na na na na na na na na na na na na na na na na * Adjusted for changes from 2008 to 2009 in the survey definition of transaction categories to make the two years directly comparable. † For definitions of essential and nonessential goods, see Appendix A.5 in Foster, Meijer, Schuh, and Zabek 2009. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-18 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 19 Share of Consumers Using Payment Instrument, by Type of Nonretail, In-Person Transactions* Monthly Total Services and Other Person to Person 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Any instrument 2.3 1.3 0.9 na 1.4 1.0 na 1.7 1.7 Paper instruments Cash...................................................... Check or money order........................... Check................................................. Money order...................................... Traveler's check.................................... 2.5 2.6 2.7 na na na 1.5 1.6 1.6 1.6 0.7 na 1.2 1.4 1.7 1.7 1.0 na na na na na na na 1.6 1.7 1.5 1.5 0.5 na 1.4 1.5 1.6 1.6 0.8 na na na na na na na 1.7 1.7 1.2 1.1 0.6 na 1.7 1.8 1.3 1.2 0.8 na Payment cards Debit..................................................... Credit.................................................... Prepaid.................................................. 2.8 2.5 2.6 0.5 1.8 1.7 1.5 0.7 1.7 1.8 1.7 0.8 na na na na 1.8 1.7 1.5 0.7 1.7 1.8 1.7 0.8 na na na na 0.9 0.9 0.6 na 0.9 0.9 0.7 na Electronic payments Online banking bill payment................. Bank account number payment............. na na na 0.8 0.6 0.7 1.0 0.9 0.7 na na na na na na na na na na na na 0.8 0.6 0.7 1.0 0.9 0.7 Annual Total Services and Other Person to Person 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Any instrument 2.2 1.1 0.8 na 1.2 1.0 na 1.7 1.5 Paper instruments Cash...................................................... Check or money order........................... Check................................................. Money order...................................... Traveler's check.................................... 2.4 2.6 2.9 na na na 1.3 1.4 1.8 1.8 0.9 na 1.1 1.3 1.8 1.8 1.1 na na na na na na na 1.5 1.6 1.7 1.8 0.8 na 1.3 1.5 1.7 1.7 0.9 na na na na na na na 1.7 1.8 1.4 1.4 0.8 na 1.6 1.7 1.6 1.5 0.9 na Payment cards Debit..................................................... Credit.................................................... Prepaid.................................................. 2.5 2.7 2.7 0.8 1.8 1.7 1.7 0.9 1.7 1.8 1.8 0.9 na na na na 1.8 1.7 1.7 0.9 1.7 1.8 1.8 0.9 na na na na 1.0 1.0 0.7 na 1.1 1.0 0.8 na Electronic payments Online banking bill payment................. Bank account number payment............. na na na 0.9 0.7 0.8 1.1 1.0 0.8 na na na na na na na na na na na na 0.9 0.7 0.8 1.1 1.0 0.8 * Adjusted for changes from 2008 to 2009 in the survey definition of transaction categories to make the two years directly comparable. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-19 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 20 Number of Consumer Payments in a Typical Month, by Type of Payment Instrument Mean Number per consumer Growth Rate (%) 2008ʳ 2009ʳ 2010 Total payments 3.6 1.8 2.4 – – Paper instruments Cash........................................................................................................ Check or money order............................................................................. Check................................................................................................... Money order........................................................................................ Traveler's check...................................................................................... 1.4 1.2 0.5 0.5 0.1 0.0 1.2 1.2 0.3 0.3 0.1 0.0 1.1 0.9 0.4 0.4 0.1 0.0 – – – – – – – – – – – – Payment cards Debit....................................................................................................... Credit...................................................................................................... Prepaid.................................................................................................... Prepaid, per adopter*.............................................................................. 2.3 1.8 1.0 0.2 0.8 1.1 0.9 0.6 0.1 0.3 1.5 1.4 0.7 0.1 0.3 – – – – – – – – Electronic payments Online banking bill payment................................................................... Bank account number payment............................................................... Bank account number payment, per adopter*...................................... 0.9 2.6 5.5 0.7 0.3 0.2 0.2 0.2 0.3 0.2 0.3 0.3 – – – – – – – – – – Other means of payment Direct deduction from income................................................................ 0.2 0.1 0.1 Share (%) Percentage share 2008ʳ 2009ʳ 08-09ʳ 09-10 Change 2010 08-09ʳ 09-10 Total payments – – – – – Paper instruments Cash........................................................................................................ Check or money order............................................................................. Check................................................................................................... Money order........................................................................................ Traveler's check...................................................................................... – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Payment cards Debit....................................................................................................... Credit...................................................................................................... Prepaid.................................................................................................... – – – – – – – – – – – – – – – – – – – – Electronic payments Online banking bill payment†................................................................. Bank account number payment†............................................................. – – – – – – – – – – – – – – – Other means of payment Direct deduction from income................................................................ – – – – – * Per adopter estimate is included due to changes in the survey design that affected the rates of adoption of payment instruments (see Table 4), making the per consumer estimates not comparable across years. Estimates are calculated using only adopters of a payment instrument, not all consumers. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Standard errors are not caculated for cells denoted with a dash. Survey of Consumer Payment Choice Version of January 2014 T-20 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 21 Number of Consumer Payments in a Typical Month, by Type of Payment Transaction Growth Rate (%) Mean Number per consumer 2008ʳ 2009ʳ 2010 3.6 – – 1.8 0.6 1.6 2.4 0.9 1.7 – – – – – – Bill payments Automatic...................................................................................... Direct deduction from income.................................................... Other automatic.......................................................................... Online............................................................................................ By mail, in person, or by phone..................................................... 1.7 – 0.2 0.7 0.7 0.6 0.6 0.3 0.1 – 0.3 0.4 1.1 0.4 0.1 – 0.3 0.5 – – – – – – – – – – – – Nonbill payments Retail and services Online or electronic...................................................................... By mail, in person, or by phone.................................................... Retail goods............................................................................... Services..................................................................................... 2.7 na 0.5 na 1.9 0.7 1.5 – 0.2 1.3 0.9 0.7 1.6 – 0.3 1.3 0.8 0.7 – – – – – – – – – – – – Person to person Online or electronic...................................................................... By mail, in person, or by phone.................................................... na na na 0.3 0.1 0.3 0.4 0.2 0.3 – – – – – – Total Online or electronic By mail, in person , or by phone 08-09ʳ Share (%) Percentage share 2008ʳ Total Online or electronic By mail or in person 2009ʳ 09-10 Change 2010 08-09ʳ 09-10 – – – – – – – – – – – – – – – Bill payments Automatic...................................................................................... Direct deduction from income.................................................... Other automatic.......................................................................... Online............................................................................................ By mail, in person, or by phone..................................................... – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Nonbill Payments Retail and services Online or electronic...................................................................... By mail, in person, or by phone.................................................... Retail goods............................................................................... Services..................................................................................... – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Person to person Online or electronic...................................................................... By mail, in person, or by phone.................................................... – – – – – – – – – – – – – – – NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Standard errors are not caculated for cells denoted with a dash. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-21 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 22 Use of Payment Instruments in a Typical Month, by Type of Transaction Nonbill payments Bill Payments Number per consumer Retail, Service and Person to Person Online 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Paper instruments Cash...................................................... Check or money order........................... Check................................................. Money order...................................... Traveler's check.................................... 0.4 0.3 0.2 – 0.0 na 0.3 0.3 0.1 0.1 0.1 na 0.3 0.3 0.1 0.1 0.1 na 0.1 na 0.1 na na na 0.1 na 0.1 0.1 0.0 na 0.1 na 0.1 0.1 0.0 na 1.2 1.1 0.3 na 0.0 na 1.1 1.1 0.2 0.2 0.1 na 0.9 0.7 0.3 0.3 0.1 na Payment cards Debit..................................................... Credit.................................................... Prepaid.................................................. 0.8 0.7 0.3 0.0 0.4 0.3 0.2 0.0 0.7 0.7 0.2 0.0 0.4 0.3 0.2 0.0 0.2 0.2 0.1 0.0 0.2 0.1 0.1 0.0 1.6 1.3 0.7 0.1 0.8 0.7 0.4 0.1 0.9 0.8 0.5 0.1 Electronic payments Online banking bill payment................. Bank account number payment............. 0.9 0.4 0.6 0.2 0.2 0.1 0.2 0.2 0.1 0.1 na 0.1 0.1 na 0.1 0.2 na 0.2 na na na 0.1 0.0 0.1 0.0 0.0 0.0 Other methods of payment Direct deduction from income.............. 0.2 0.1 0.1 na na na na na na Nonbill Payments Bill Payments Percentage share Retail, Service and Person to Person Online 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Paper instruments Cash...................................................... Check or money order........................... Check................................................. Money order...................................... Traveler's check.................................... – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Payment cards Debit..................................................... Credit.................................................... Prepaid.................................................. – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Electronic payments Online banking bill payment................. Bank account number payment............. – – – – – – – – – – – – – – – – – – – – – – – – – – – Other methods of payment Direct deduction from income.............. – – – – – – – – – NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Standard errors are not caculated for cells denoted with a dash. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-22 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 23 Use of Payment Instruments in a Typical Month, by Type of Bill Payment Automatic By Mail, in Person, or by Phone Online Mean number per consumer 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Paper instruments Cash................................................................................. Check or money order..................................................... Check........................................................................... Money order................................................................. Traveler's check............................................................... na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na 0.4 0.3 0.2 na 0.0 na 0.3 0.3 0.1 0.1 0.1 na 0.3 0.3 0.1 0.1 0.1 na Payment cards Debit................................................................................ Credit............................................................................... Prepaid............................................................................ 0.4 0.3 0.2 na 0.2 0.1 0.1 na 0.3 0.3 0.1 na 0.4 0.3 0.1 na 0.2 0.2 0.1 na 0.3 0.3 0.1 na 0.3 0.3 0.1 0.0 0.2 0.2 0.1 0.0 0.3 0.2 0.1 0.0 Electronic payments Online banking bill payment*......................................... Bank account number payment....................................... 0.3 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.6 0.4 0.2 0.2 0.1 0.1 0.2 0.1 0.1 na na na na na na na na na Other means of payment Direct deduction from income......................................... 0.2 0.1 0.1 na na na na na na Automatic By Mail, in Person, or by Phone Online Percentage share 2008 2009 2010 2008 2009 2010 2008 2009 2010 Paper instruments Cash................................................................................. Check or money order..................................................... Check........................................................................... Money order................................................................. Traveler's check............................................................... – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Payment cards Debit................................................................................ Credit............................................................................... Prepaid............................................................................ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Electronic payments Online banking bill payment*......................................... Bank account number payment....................................... – – – – – – – – – – – – – – – – – – – – – – – – – – – Other means of payment Direct deduction from income......................................... – – – – – – – – – *The 2008 automatic bill payment number for online banking bill payment is derived from the ratio of total electronic automatic bill payments to total number of online banking bill payments in the 2009 SCPC. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Standard errors are not caculated for cells denoted with a dash. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-23 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 24 Use of Payment Instruments in a Typical Month, by Type of Retail Goods Total* Mean number per consumer Essential Goods† Nonessential Goods† 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Paper instruments Cash................................................................................. Check or money order..................................................... Check........................................................................... Money order................................................................. Traveler's check............................................................... 0.9 0.9 0.1 na na na 0.6 0.6 – 0.1 0.0 na 0.4 0.4 – 0.1 0.0 na 0.7 0.7 0.1 na na na na na na na na na na na na na na na 0.5 0.5 0.1 na na na na na na na na na na na na na na na Payment cards Debit................................................................................ Credit............................................................................... Prepaid............................................................................ 1.2 1.1 0.5 0.1 0.6 0.5 0.3 0.1 0.6 0.5 0.3 0.0 0.9 0.8 0.3 0.1 na na na na na na na na 0.5 0.4 0.2 0.0 na na na na na na na na Electronic payments Online banking bill payment........................................... Bank account number payment....................................... na na na na na na na na na na na na na na na na na na na na na na na na na na na Total* Percentage share Essential Goods† Nonessential Goods† 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Paper instruments Cash................................................................................. Check or money order..................................................... Check........................................................................... Money order................................................................. Traveler's check............................................................... – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Payment cards Debit................................................................................ Credit............................................................................... Prepaid............................................................................ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Electronic payments Online banking bill payment........................................... Bank account number payment....................................... – – – – – – – – – – – – – – – – – – – – – – – – – – – * Adjusted for changes from 2008 to 2009 in the survey definition of transaction categories to make the two years directly comparable. † For definitions of essential and nonessential goods, see Appendix A.5 in Foster, Meijer, Schuh, and Zabek 2009. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Standard errors are not caculated for cells denoted with a dash. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-24 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 25 Use of Payment Instruments in a Typical Month, by Type of Nonretail, In-Person Transactions Total* Mean number per consumer Services and Other Person to Person 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 2008ʳ 2009ʳ 2010 Paper instruments Cash................................................................................. Check or money order...................................................... Check............................................................................ Money order................................................................. Traveler's check................................................................ 0.5 0.3 0.2 na na na 0.7 0.7 0.1 0.1 0.0 na 0.6 0.5 0.2 0.3 0.0 na na na na na na na 0.6 0.7 0.1 0.1 0.0 na 0.4 0.3 0.1 0.1 0.0 na na na na na na na 0.3 0.3 0.1 0.1 0.0 na 0.3 0.2 0.2 0.2 0.0 na Payment cards Debit................................................................................ Credit............................................................................... Prepaid............................................................................. 0.4 0.3 0.2 0.0 0.4 0.3 0.2 0.0 0.5 0.4 0.2 0.0 na na na na 0.3 0.3 0.2 0.0 0.4 0.4 0.2 0.0 na na na na 0.1 0.1 0.0 na 0.1 0.1 0.1 na Electronic payments Online banking bill payment............................................ Bank account number payment........................................ na na na 0.1 0.0 0.1 0.0 0.0 0.0 na na na na na na na na na na na na 0.1 0.0 0.1 0.0 0.0 0.0 Total* Services and Other Person to Person Percentage share 2008 2009 2010 2008 2009 2010 2008 2009 2010 Paper instruments Cash................................................................................. Check or money order...................................................... Check............................................................................ Money order................................................................. Traveler's check................................................................ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Payment cards Debit................................................................................ Credit............................................................................... Prepaid............................................................................. – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Electronic payments Online banking bill payment............................................ Bank account number payment........................................ – – – – – – – – – – – – – – – – – – – – – – – – – – – * Adjusted for changes from 2008 to 2009 in the survey definition of transaction categories to make the two years directly comparable. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Standard errors are not caculated for cells denoted with a dash. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-25 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 26 Payment Instruments Used in a Typical Period, by Type of Instrument and Transaction Mean number per consumer Typical month 2008ʳ 2009ʳ 2010 All payments (9 instruments available)* Paper instruments.................................................................................................................. Payment cards....................................................................................................................... Electronic payments.............................................................................................................. 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Bill payments (8 instruments available)† Paper instruments.................................................................................................................. Payment cards....................................................................................................................... Electronic payments.............................................................................................................. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Online payments (6 instruments available)‡ Paper instruments.................................................................................................................. Payment cards....................................................................................................................... Electronic payments.............................................................................................................. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 In-person payments (8 instruments available)** Paper instruments.................................................................................................................. Payment cards....................................................................................................................... Electronic payments.............................................................................................................. 0.1 0.0 0.0 na 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Typical year 2008ʳ 2009ʳ 2010 All payments (9 instruments available)* Paper instruments.................................................................................................................. Payment cards....................................................................................................................... Electronic payments.............................................................................................................. 0.1 0.1 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Bill payments (8 instruments available)† Paper instruments.................................................................................................................. Payment cards....................................................................................................................... Electronic payments.............................................................................................................. 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Online payments (6 instruments available)‡ Paper instruments.................................................................................................................. Payment cards....................................................................................................................... Electronic payments.............................................................................................................. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 In-person payments (8 instruments available)** Paper instruments.................................................................................................................. Payment cards....................................................................................................................... Electronic payments.............................................................................................................. 0.1 0.0 0.0 na 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 * The 9 available payment instruments include cash, check, traveler's check, money order, debit card, credit card, prepaid card, OBBP, and BANP. † Traveler's check is not accepted as a payment instrument for bill payments. ‡ Cash, traveler's check, and OBBP are not accepted as payment instruments for online payments. ** OBBP is not accepted as a payment instrument for in-person payments NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-26 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 27 Loss, Theft, or Fraudulent Use of Payment Instrument Percentage of consumers 2008ʳ 2009ʳ 2010 Lost or stolen in past 12 months Cash............................................................................................................................................ Checks......................................................................................................................................... Credit card................................................................................................................................... Debit card.................................................................................................................................... na na na na na na na na na na 1.2 1.0 0.5 0.5 0.6 Percentage of adopters 2008ʳ 2009ʳ 2010 Lost or stolen in past 12 months Cash............................................................................................................................................ Checks......................................................................................................................................... Credit card................................................................................................................................... Debit card.................................................................................................................................... na na na na na na na na na na 1.2 1.0 0.6 0.7 0.8 Mean dollar value* (adopters) 2008ʳ 2009ʳ 2010 Amount lost or stolen in past 12 months Cash............................................................................................................................................ na na 153 Amount of fraudulent charges in past 12 months† Checks......................................................................................................................................... Credit card................................................................................................................................... Debit card.................................................................................................................................... na na na na na na 27 247 179 * Amount reported is the total amount of loss or fraud over the past 12 months among consumers who experienced loss, theft, or fraud. † The amount of fraudulent charges may not be the actual amount of the loss borne by consumers. Actual consumer loss depends on the policies of depository institutions and card network agreements. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Dollar values are not adjuted for inflation. Survey of Consumer Payment Choice Version of January 2014 T-27 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 28 Importance Rankings of Characteristics of Payment Instruments Percentage of consumers 2008r Characteristics Acceptance for payment........................................................ Acquisition and setup............................................................ Control over payment timing................................................. Cost....................................................................................... Ease of use............................................................................. Payment records.................................................................... Payment speed....................................................................... Security.................................................................................. 2009r Characteristics Acceptance for payment........................................................ Convenience.......................................................................... Cost....................................................................................... Security.................................................................................. 2010 Characteristics Acceptance for payment........................................................ Acquisition and setup............................................................ Convenience.......................................................................... Cost....................................................................................... Payment records.................................................................... Security.................................................................................. Most Important 2nd Most 3rd Most 4th Most 5th Most Least Important 1.7 0.2 1.4 1.8 2.6 1.1 0.9 2.3 na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na 1.9 2.5 2.1 1.1 1.0 1.6 1.7 0.5 Most Important 2nd Most 3rd Most 4th Most 5th Most Least Important 1.5 1.6 1.7 1.7 1.6 1.5 1.5 1.4 1.4 1.4 1.3 1.2 na na na na na na na na 1.4 1.4 1.3 0.8 Most Important 2nd Most 3rd Most 4th Most 5th Most Least Important 1.4 1.1 1.5 1.6 1.2 1.7 1.4 1.2 1.5 1.5 1.3 1.5 1.3 1.0 1.4 1.1 1.2 1.2 1.3 1.4 1.3 1.4 1.4 1.2 1.0 1.3 1.0 0.9 1.2 0.8 1.2 1.5 0.6 0.8 1.2 0.3 NOTES: Superscript "r" denotes that numbers in the section may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Each survey asked about a different set of characteristics, as indicated in this table. Survey of Consumer Payment Choice Version of January 2014 T-28 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 29A Assessments of Payment Instruments: Acceptance for Payment Percentage of consumers Cash 2008r……………………………. 2009r……………………………. 2010…………………………….. Check 2008r……………………………. 2009r……………………………. 2010…………………………….. Debit card 2008r……………………………. 2009r……………………………. 2010…………………………….. Credit card 2008r……………………………. 2009r……………………………. 2010…………………………….. Prepaid card 2008r……………………………. 2009r……………………………. 2010…………………………….. Bank account number payment* 2008r……………………………. 2009r……………………………. 2010…………………………….. Online banking bill payment* 2008r……………………………. 2009r……………………………. 2010…………………………….. Rarely Accepted Occasionally Accepted Often Accepted Usually Accepted Almost Always Accepted 0.7 0.6 0.4 1.2 0.4 0.3 1.9 1.2 1.0 1.4 1.0 1.2 2.5 1.5 1.5 0.7 1.1 0.6 1.8 1.3 1.2 2.4 1.6 1.6 2.5 1.5 1.6 2.2 1.2 1.4 0.7 1.0 0.5 1.3 0.2 0.4 2.0 1.4 0.9 2.6 1.5 1.6 2.6 1.7 1.7 0.9 1.0 0.5 0.1 0.4 0.4 1.9 1.1 0.8 2.6 1.5 1.6 2.7 1.7 1.7 1.0 1.1 0.7 1.4 0.8 0.9 2.2 1.5 1.5 2.5 1.5 1.6 2.4 1.5 1.6 1.7 1.6 1.6 1.8 1.3 1.3 2.4 1.4 1.6 2.3 1.0 1.1 2.2 1.3 1.0 1.7 1.3 1.1 1.8 0.9 0.8 2.4 1.6 1.6 2.3 1.4 1.6 2.2 1.4 1.5 * In 2008 respondents were asked to assess "electronic deduction." In the 2009 and 2010 SCPC, we disaggregated the rating of electronic deduction into "bank account number payment" and "online banking bill payment". NOTES: Superscript "r" denotes that numbers in the row may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. Survey of Consumer Payment Choice Version of January 2014 T-29 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 29B Assessments of Payment Instruments: Acquisition and Setup Percentage of consumers Very Hard to Get Hard to Get or Neither Hard nor Easy to Get or Set Very Easy to Get or Set Up Set up Easy Up or Set Up Cash 2008r……………………………. 2009……………………………. 2010…………………………….. Check 2008r……………………………. 2009……………………………. 2010…………………………….. Debit card 2008r……………………………. 2009……………………………. 2010…………………………….. Credit card 2008r……………………………. 2009……………………………. 2010…………………………….. Prepaid card 2008r……………………………. 2009……………………………. 2010…………………………….. Bank account number payment* 2008r……………………………. 2009……………………………. 2010…………………………….. Online banking bill payment* 2008r……………………………. 2009……………………………. 2010…………………………….. 0.7 na 0.7 1.7 na 1.7 1.7 na 1.7 2.7 na 2.7 2.8 na 2.8 1.1 na 1.1 1.8 na 1.8 2.0 na 2.0 2.7 na 2.7 1.7 na 1.7 0.7 na 0.7 1.7 na 1.7 2.1 na 2.1 2.7 na 2.7 2.0 na 2.0 1.2 na 1.2 1.8 na 1.8 2.0 na 2.0 2.7 na 2.7 1.9 na 1.9 1.0 na 1.0 2.0 na 2.0 2.3 na 2.3 2.6 na 2.6 1.8 na 1.8 1.1 na 0.7 2.1 na 1.1 2.2 na 1.6 2.7 na 1.5 1.5 na 1.6 1.1 na 0.8 2.1 na 1.0 2.2 na 1.6 2.7 na 1.5 1.5 na 1.5 * In 2008 respondents were asked to assess "electronic deduction." In the 2009 and 2010 SCPC, we disaggregated the rating of electronic deduction into "bank account number payment" and "online banking bill payment". NOTES: Superscript "r" denotes that numbers in the row may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-30 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 29C Assessments of Payment Instruments: Control Over Payment Timing Percentage of consumers Very Low Control Cash 2008r……………………………. 2009……………………………. 2010…………………………….. Check 2008r……………………………. 2009……………………………. 2010…………………………….. Debit card 2008r……………………………. 2009……………………………. 2010…………………………….. Credit card 2008r……………………………. 2009……………………………. 2010…………………………….. Prepaid card 2008r……………………………. 2009……………………………. 2010…………………………….. Electronic deduction* 2008r……………………………. 2009……………………………. 2010…………………………….. Low Control Neither Low nor High Control High Control Very High Control 1.4 na na 1.9 na na 1.7 na na 2.4 na na 2.6 na na 1.2 na na 2.5 na na 2.1 na na 2.4 na na 1.8 na na 1.4 na na 2.0 na na 2.0 na na 2.6 na na 1.9 na na 1.3 na na 2.1 na na 2.0 na na 2.6 na na 1.9 na na 1.5 na na 2.1 na na 2.3 na na 2.6 na na 1.7 na na 1.5 na na 2.1 na na 2.1 na na 2.6 na na 2.0 na na * In 2008 respondents were asked to assess "electronic deduction." In the 2009 and 2010 SCPC, we disaggregated the rating of electronic deduction into "bank account number payment" and "online banking bill payment." NOTES: Superscript "r" denotes that numbers in the row may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-31 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 29D Assessments of Payment Instruments: Convenience* Percentage of consumers Very Inconvenient Cash 2008r……………………………. 2009r……………………………. 2010…………………………….. Check 2008r……………………………. 2009r……………………………. 2010…………………………….. Debit card 2008r……………………………. 2009r……………………………. 2010…………………………….. Credit card 2008r……………………………. 2009r……………………………. 2010.................................................. Prepaid card 2008r……………………………. 2009r……………………………. 2010…………………………….. Bank account number payment 2008r……………………………. 2009r……………………………. 2010…………………………….. Online banking bill payment 2008r……………………………. 2009r……………………………. 2010…………………………….. Inconvenient Neither Inconvenient nor Convenient Convenient Very Convenient 0.6 0.5 1.0 2.3 0.6 1.0 2.3 1.3 1.1 2.2 1.4 1.4 2.6 1.7 1.7 0.7 1.1 1.3 2.2 1.2 1.4 2.4 1.6 1.5 2.6 1.4 1.5 1.5 1.3 1.1 0.7 0.9 0.9 1.6 0.5 0.4 2.4 1.3 1.0 2.3 1.4 1.5 2.6 1.7 1.7 0.7 0.9 0.9 1.7 0.4 0.6 2.2 1.3 1.0 2.4 1.4 1.5 2.7 1.7 1.7 0.9 1.0 0.9 1.8 1.1 1.3 2.7 1.6 1.5 2.0 1.3 1.5 2.2 1.5 1.4 1.2 1.3 1.4 2.0 1.3 1.3 2.5 1.6 1.5 2.3 1.2 1.4 2.1 1.4 1.1 1.2 1.1 1.0 2.0 0.8 0.7 2.5 1.6 1.3 2.3 1.4 1.5 2.1 1.6 1.7 * In 2008, the survey referred to this concept as "Ease of use". The numbers are not directly comparable due to differences in the definitions of "Ease of use" and "Convenience." NOTES: Superscript "r" denotes that numbers in the row may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. Survey of Consumer Payment Choice Version of January 2014 T-32 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 29E Assessments of Payment Instruments: Cost Percentage of consumers Cash 2008r……………………………. 2009r……………………………. 2010…………………………….. Check 2008r……………………………. 2009r……………………………. 2010…………………………….. Debit card 2008r……………………………. 2009r……………………………. 2010…………………………….. Credit card 2008r……………………………. 2009r……………………………. 2010…………………………….. Prepaid card 2008r……………………………. 2009r……………………………. 2010…………………………….. Bank account number payment* 2008r……………………………. 2009r……………………………. 2010…………………………….. Online banking bill payment* 2008r……………………………. 2009r……………………………. 2010…………………………….. Very High Cost High Cost Neither High nor Low Cost Low Cost Very Low Cost 0.7 0.5 0.3 1.8 0.7 0.6 2.6 1.3 1.6 1.3 0.9 0.9 2.9 1.6 1.7 0.8 0.9 0.5 2.1 0.9 0.9 2.6 1.7 1.7 2.5 1.5 1.7 1.8 1.5 1.4 0.8 0.9 0.3 2.0 0.9 0.9 2.7 1.6 1.7 2.2 1.5 1.6 2.2 1.6 1.6 2.1 1.6 1.2 2.6 1.6 1.4 2.2 1.4 1.7 1.8 1.0 1.3 1.3 1.1 1.1 1.0 1.0 0.6 2.1 1.3 1.2 2.7 1.7 1.7 1.6 1.3 1.4 1.7 1.3 1.4 1.0 1.0 0.6 2.0 0.7 0.7 2.7 1.7 1.8 1.9 1.4 1.4 2.3 1.5 1.5 1.0 0.9 0.7 2.0 1.0 0.6 2.7 1.6 1.7 1.9 1.4 1.5 2.3 1.6 1.6 * In 2008 respondents were asked to assess "electronic deduction." In the 2009 and 2010 SCPC, we disaggregated the rating of electronic deduction into "bank account number payment" and "online banking bill payment." NOTES: Superscript "r" denotes that numbers in the row may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. Survey of Consumer Payment Choice Version of January 2014 T-33 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 29F Assessments of Payment Instruments: Payment Records Percentage of consumers Cash 2008r……………………………. 2009.……………………………. 2010…………………………….. Check 2008r……………………………. 2009.……………………………. 2010…………………………….. Debit card 2008r……………………………. 2009.……………………………. 2010…………………………….. Credit card 2008r……………………………. 2009.……………………………. 2010…………………………….. Prepaid card 2008r……………………………. 2009.……………………………. 2010…………………………….. Bank account number payment* 2008r……………………………. 2009.……………………………. 2010…………………………….. Online banking bill payment* 2008r……………………………. 2009.……………………………. 2010…………………………….. Very Poor Records Poor Records Neither Good nor Poor Good Records Very Good Records 2.4 na 1.6 2.2 na 1.3 2.5 na 1.6 1.5 na 1.1 1.5 na 1.2 0.6 na 0.2 1.8 na 0.6 2.1 na 1.1 2.6 na 1.7 2.5 na 1.6 1.0 na 0.3 1.8 na 0.6 2.5 na 1.1 2.4 na 1.7 2.4 na 1.7 0.7 na 0.4 1.8 na 0.9 2.2 na 1.0 2.4 na 1.6 2.6 na 1.7 1.4 na 1.4 2.2 na 1.1 2.6 na 1.6 1.4 na 1.4 2.1 na 1.1 1.0 na 0.5 1.9 na 0.6 2.5 na 1.3 2.2 na 1.7 2.4 na 1.6 1.0 na 0.4 1.9 na 0.5 2.5 na 1.1 2.2 na 1.6 2.4 na 1.7 * In 2008 respondents were asked to assess "electronic deduction." In the 2009 and 2010 SCPC, we disaggregated the rating of electronic deduction into "bank account number payment" and "online banking bill payment." NOTES: Superscript "r" denotes that numbers in the row may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-34 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 29G Assessments of Payment Instruments: Payment Speed Percentage of consumers Cash 2008r……………………………. 2009…………………………….. 2010…………………………….. Check 2008r……………………………. 2009…………………………….. 2010…………………………….. Debit card 2008r……………………………. 2009…………………………….. 2010…………………………….. Credit card 2008r……………………………. 2009…………………………….. 2010…………………………….. Prepaid card 2008r……………………………. 2009…………………………….. 2010…………………………….. Electronic deduction 2008r……………………………. 2009…………………………….. 2010…………………………….. Very Slow Slow Neither Slow nor Fast Fast Very Fast 0.6 na na 1.7 na na 2.4 na na 2.3 na na 2.7 na na 1.4 na na 2.3 na na 2.8 na na 1.9 na na 1.1 na na 0.9 na na 1.9 na na 2.4 na na 2.5 na na 2.3 na na 0.9 na na 1.9 na na 2.3 na na 2.6 na na 2.3 na na 1.1 na na 1.8 na na 2.6 na na 2.4 na na 2.0 na na 1.0 na na 1.9 na na 2.6 na na 2.3 na na 2.3 na na NOTES: Superscript "r" denotes that numbers in the row may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-35 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 29H Assessments of Payment Instruments: Security Percentage of consumers Cash 2008r……………………………. 2009r……………………………. 2010…………………………….. Check 2008r……………………………. 2009r……………………………. 2010…………………………….. Debit card 2008r……………………………. 2009r……………………………. 2010…………………………….. Credit card 2008r……………………………. 2009r……………………………. 2010…………………………….. Prepaid card 2008r……………………………. 2009r……………………………. 2010…………………………….. Bank account number payment* 2008r……………………………. 2009r……………………………. 2010…………………………….. Online banking bill payment* 2008r……………………………. 2009r……………………………. 2010…………………………….. Very Risky Risky Neither Risky nor Secure Secure Very Secure 2.6 1.5 1.6 2.2 1.0 1.3 1.7 1.3 1.3 1.3 1.0 0.9 2.3 1.7 1.6 1.7 1.5 0.9 2.6 1.5 1.7 1.7 1.3 1.4 2.2 1.5 1.4 1.9 0.9 1.2 1.5 1.5 0.8 2.6 1.4 1.6 2.1 1.5 1.3 2.1 1.4 1.6 2.0 1.1 1.3 1.7 1.5 1.0 2.6 1.4 1.6 1.7 1.4 1.1 2.2 1.4 1.6 2.0 1.1 1.3 2.0 1.5 1.4 2.5 1.3 1.5 2.2 1.6 1.5 1.7 1.3 1.2 1.9 1.1 1.1 1.5 1.7 1.4 2.5 1.4 1.6 2.2 1.4 1.4 2.0 1.2 1.2 2.2 1.0 1.2 1.5 1.5 1.1 2.5 1.4 1.5 2.2 1.4 1.4 2.0 1.4 1.5 2.2 1.1 1.3 * In 2008 respondents were asked to assess "electronic deduction." In the 2009 and 2010 SCPC, we disaggregated the rating of electronic deduction into "bank account number payment" and "online banking bill payment." NOTES: Superscript "r" denotes that numbers in the row may have been revised since the last time they were published. Numbers in italics are not comparable across years due to changes in the survey questionnaire or methodology. Numbers may not sum exactly due to rounding or missing values. Survey of Consumer Payment Choice Version of January 2014 T-36 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 29I Assessments of Payment Locations: Security Percentage of consumers Very Risky Risky Neither Risky nor Secure Secure Very Secure In person 2008…………………………….. 2009…………………………….. 2010…………………………….. na na 0.1 na na 0.4 na na 0.9 na na 1.4 na na 1.6 Online 2008…………………………….. 2009…………………………….. 2010…………………………….. na na 1.3 na na 1.6 na na 1.1 na na 1.6 na na 1.0 na na 1.3 na na 1.5 na na 1.5 na na 1.6 na na 0.7 na na 1.1 na na 1.7 na na 1.4 na na 1.5 na na 0.7 na na 1.3 na na 1.7 na na 1.4 na na 1.3 na na 0.6 By mail 2008…………………………….. 2009…………………………….. 2010…………………………….. By phone 2008…………………………….. 2009…………………………….. 2010…………………………….. Mobile 2008…………………………….. 2009…………………………….. 2010…………………………….. NOTES: Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-37 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 29J Assessment of Debit Authorization Mode Percentage of consumers Very Risky Risky Neither Risky nor Secure PIN debit card 2008.……………………………. 2009.……………………………. 2010…………………………….. na na 0.7 na na 1.2 na na 1.5 na na 1.6 na na 1.5 Signature debit card 2008.……………………………. 2009.……………………………. 2010…………………………….. na na 0.6 na na 1.3 na na 1.5 na na 1.7 na na 1.2 na na 1.7 na na 1.6 na na 1.3 na na 1.1 na na 0.6 na na 1.3 na na 1.7 na na 1.5 na na 1.2 na na 0.7 Security No PIN and no signature debit card 2008.……………………………. 2009.……………………………. 2010…………………………….. Using a debit card online 2008.……………………………. 2009.……………………………. 2010…………………………….. Secure Very Secure NOTES: Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Table 29K Preferred Way of Authorizing Debit Card Payments Percentage of consumers 2008 PIN...................................................................................................................... Signature.............................................................................................................. Either one is fine/I'm indifferent.......................................................................... Neither one/ I prefer not to enter a PIN or give my signature.............................. na na na na 2009 2010 na na na na 1.8 1.7 1.4 0.6 NOTES: Numbers may not sum exactly due to rounding or missing values. The notation "na" indicates that the estimate is not available. Survey of Consumer Payment Choice Version of January 2014 T-38 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 30 Demographics: Gender, Age, Race, and Education* Percentage of consumers 2008ʳ 2009ʳ 2010 Gender Male................................................................................................................................... Female................................................................................................................................ 2.7 2.7 1.7 1.7 1.7 1.7 Age 18–24................................................................................................................................. 25–34................................................................................................................................. 35–44................................................................................................................................. 45–54................................................................................................................................. 55–64................................................................................................................................. 65 and older....................................................................................................................... 2.5 2.4 1.7 1.7 1.7 1.8 1.2 1.8 1.2 1.1 0.9 1.1 1.2 1.8 1.3 1.1 0.9 1.1 Race White.................................................................................................................................. Black.................................................................................................................................. Asian.................................................................................................................................. Other.................................................................................................................................. 2.8 2.7 0.8 1.3 1.9 1.7 0.5 1.3 1.9 1.7 0.5 1.3 Ethnicity Hispanic or Latino.............................................................................................................. 2.2 1.6 1.6 Education No high school diploma..................................................................................................... High school........................................................................................................................ Some college...................................................................................................................... College............................................................................................................................... Post-graduate study............................................................................................................ 2.1 2.9 1.9 1.1 1.2 1.3 1.8 1.3 0.8 0.7 0.9 1.9 1.3 0.8 0.8 * Estimates are weighted. The table of unweighted sample demographics is available upon request. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers may not sum exactly due to rounding or missing values. Survey of Consumer Payment Choice Version of January 2014 T-39 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 31 Income and Labor Force Status* Percentage of consumers 2008ʳ 2009ʳ 2010 Household income Less than $25,000................................................................................................................. $25,000–$49,999.................................................................................................................. $50,000–$74,999.................................................................................................................. $75,000–$99,999.................................................................................................................. $100,000–$124,999.............................................................................................................. $125,000 or more.................................................................................................................. $125,000–$199,999........................................................................................................... $200,000 or more.............................................................................................................. 2.4 2.6 1.6 2.0 1.0 1.0 0.9 0.5 1.8 1.5 1.2 0.9 0.6 0.7 0.6 0.4 1.8 1.5 1.3 1.0 0.7 0.7 0.5 0.4 Respondent income Highest in household............................................................................................................ About equal to highest.......................................................................................................... 2nd highest............................................................................................................................ 3rd highest or lower.............................................................................................................. 2.7 2.1 2.5 1.2 1.7 1.2 1.5 1.3 1.7 1.4 1.4 1.1 Labor force status Working now........................................................................................................................ Unemployed and looking for work....................................................................................... Temporarily laid off, on sick or other leave.......................................................................... Disabled................................................................................................................................ Retired.................................................................................................................................. Homemaker........................................................................................................................... Other..................................................................................................................................... 2.4 0.8 0.1 0.9 2.0 0.8 0.6 1.4 0.4 0.3 0.5 1.1 0.4 0.4 1.6 1.3 0.4 0.9 1.1 0.9 0.5 * Estimates are weighted. The table of unweighted sample demographics is available upon request. NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers may not sum exactly due to rounding or missing values. Survey of Consumer Payment Choice Version of January 2014 T-40 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 32 Consumers' Financial Responsibility in the Household Percentage of consumers 2008ʳ 2009ʳ 2010 Budgeting All......................................................................................................................................... Most...................................................................................................................................... Shared equally....................................................................................................................... Some...................................................................................................................................... None...................................................................................................................................... 2.5 1.4 2.3 2.5 1.3 1.7 1.1 1.5 1.0 1.3 1.7 1.2 1.3 1.1 1.2 Bill payment All......................................................................................................................................... Most...................................................................................................................................... Shared equally....................................................................................................................... Some...................................................................................................................................... None...................................................................................................................................... 2.6 1.2 2.2 2.6 1.4 1.7 1.0 1.3 1.2 1.2 1.7 1.2 1.2 1.2 1.2 Shopping All......................................................................................................................................... Most...................................................................................................................................... Shared equally....................................................................................................................... Some...................................................................................................................................... None...................................................................................................................................... 2.4 1.3 2.6 2.1 1.5 1.6 1.0 1.5 1.5 1.0 1.6 1.2 1.4 1.5 1.0 Asset management All......................................................................................................................................... Most...................................................................................................................................... Shared equally....................................................................................................................... Some...................................................................................................................................... None...................................................................................................................................... 2.5 1.2 2.6 1.9 1.7 1.6 0.9 1.4 1.1 1.5 1.6 1.2 1.4 1.0 1.5 NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers may not sum exactly due to rounding or missing values. Survey of Consumer Payment Choice Version of January 2014 T-41 ©2008–2014 Federal Reserve Bank of Boston Standard errors tables—2010 Survey of Consumer Payment Choice Table 33 Selected Assets and Liabilities Percentage of consumers, except as noted 2008ʳ 2009ʳ 2010 Credit card debt Carried unpaid balance at any time during the past 12 months ............................................ 2.8 1.6 1.6 Mean credit card balance unpaid, previous month (dollars) Per credit card adopter...................................................................................................... Per adopter with unpaid balance....................................................................................... 466 740 304 504 333 559 Median credit card balance unpaid, previous month (dollars) Per credit card adopter...................................................................................................... Per adopter with unpaid balance....................................................................................... 75 565 76 407 76 249 Change in unpaid balance since a year ago Much lower........................................................................................................................ Lower................................................................................................................................. About the same.................................................................................................................. Higher................................................................................................................................ Much higher....................................................................................................................... 2.4 3.7 3.0 2.2 3.0 1.3 1.9 2.1 1.7 1.5 1.4 2.2 2.2 1.6 1.3 Home ownership Home ownership rate ........................................................................................................... 2.8 1.8 1.8 NOTES: Superscript "r" denotes that numbers in the column may have been revised since the last time they were published. Numbers may not sum exactly due to rounding or missing values. Survey of Consumer Payment Choice Version of January 2014 T-42 ©2008–2014 Federal Reserve Bank of Boston