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More than 70% of bank transactions conducted away from the teller line in Korea

October 31, 2004

The Korea Times:  According to the Bank of Korea, financial transactions through ATMs, Internet banking and telephone banking accounted for more than 70 percent of all banking business for the first time in September.

ATMs accounted for 30.4 percent of transactions, followed by Internet banking with 27.4 percent and telephone banking with 13 percent.

Central bankers said Internet banking subscribers numbered 25.81 million in September, up 6 percent from June, showing a quarterly growth of 6 percent to 7 percent. In the third quarter alone, 8.94 million chose to do their banking  via the Internet, up 2.7 percent from the second quarter.

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