This statistic illustrates the estimated number of E-Money alternative accounts in the United Kingdom (UK) as of October 2017, by age group. In a survey conducted by the Financial Conduct Authority (FCA) in October 2017 it was calculated that approximately 700 thousand adults within the UK held an E-Money alternative account.
E-Money accounts are an alternative to a traditional bank account. The main benefits usually associated to E-Money accounts are the speed and security of money transfers globally as well as ease of use through online or mobile applications.
Of the 700 thousand UK adults with an E-Money alternative account, the most likely age group to own such a product were those aged between 25 and 34, amounting to approximately 161 thousand individuals. By contrast, approximately 14 thousand E-Money accounts were registered to adults aged over 75 as of October 2017.
Number of E-Money alternative account holders in the United Kingdom (UK) as of October 2017, by age group
(in 1,000s)
Characteristic
Number of E-Money alternative accounts in thousands
Total number of UK adults with a current account equals 700 thousand. Figures have been rounded. Figures have been calculated from the FCAs findings from their financial lives survey
The European Central Bank (ECB) defines E-Money as "Electronic money (e-money) is broadly defined as an electronic store of monetary value on a technical device that may be widely used for making payments to entities other than the e-money issuer. The device acts as a prepaid bearer instrument which does not necessarily involve bank accounts in transactions."
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Statista estimates. (June 20, 2018). Number of E-Money alternative account holders in the United Kingdom (UK) as of October 2017, by age group (in 1,000s) [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/936168/number-of-e-money-accounts-in-the-united-kingdom-by-age/
Statista estimates. "Number of E-Money alternative account holders in the United Kingdom (UK) as of October 2017, by age group (in 1,000s)." Chart. June 20, 2018. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/936168/number-of-e-money-accounts-in-the-united-kingdom-by-age/
Statista estimates. (2018). Number of E-Money alternative account holders in the United Kingdom (UK) as of October 2017, by age group (in 1,000s). Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/936168/number-of-e-money-accounts-in-the-united-kingdom-by-age/
Statista estimates. "Number of E-money Alternative Account Holders in The United Kingdom (Uk) as of October 2017, by Age Group (in 1,000s)." Statista, Statista Inc., 20 Jun 2018, https://www.statista.com/statistics/936168/number-of-e-money-accounts-in-the-united-kingdom-by-age/
Statista estimates, Number of E-Money alternative account holders in the United Kingdom (UK) as of October 2017, by age group (in 1,000s) Statista, https://www.statista.com/statistics/936168/number-of-e-money-accounts-in-the-united-kingdom-by-age/ (last visited December 30, 2024)
Number of E-Money alternative account holders in the United Kingdom (UK) as of October 2017, by age group (in 1,000s) [Graph], Statista estimates, June 20, 2018. [Online]. Available: https://www.statista.com/statistics/936168/number-of-e-money-accounts-in-the-united-kingdom-by-age/
