While respondents aged 65 and over were the only group to still prefer telephone baking as opposed to using the internet, Mr Staib said many elderly people are beginning to appreciate banking from the "safety of their own home".
The survey found that 15 per cent of internet banking users are aged 65 and over while 54 per cent of users are aged 25 to 34.
Mr Staib said that some elderly people are becoming familiar with internet baking from using a PC in order to contact family members, but admitted that "many will remain wary and unlikely to be early adopters of innovations".
Older people are now using the internet as a "secondary channel" for their banking in order to check their balances, make payments and transfer money, he said.
"There is nothing about internet banking that would be too difficult for any one age group," Mr Staib added.
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