Implications For Internet Banking In New Data?

WASHINGTON—Just as more consumers are dropping their land lines in favor of cell phone coverage, more people are ditching their home Internet service in favor of their smartphone.

A survey from the Pew Research Center found 80% of U.S. adults had Internet access this year, either through a smartphone or a home Internet connection, up from 78% two years ago. But the percentage of people who got Internet access via a cable or home phone provider fell from 70% in 2013 to 67% this year. 

Meanwhile, the percentage of people relying on cellphones alone for Internet rose to 13% this year, up from 8% in 2013, the study revealed. 

The dip in home Internet use could just be temporary, pointed out Network World, which cited that home Internet adoption flat-lined five years ago around the time of the recession and the period following the economic collapse of 2008. 

But John Oldshue, founder of SaveOnPhone.com, points out a new reason for ditching the home service. “It's too expensive.”

Among those without home wired Internet, 33% say the biggest reason is the monthly cost is too high, while 10% say a computer is too expensive. Another 12% say they don't need it because a smartphone is sufficient, according to the Pew Study.

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