Fed Issues Report Summarizing Attitudes on Direct Deposit and Direct Payment

On the heels of a Federal Reserve-sponsored comprehensive study on attitudes toward electronic payments, the Fed recently published a summary report that captures the results in a briefer format. The report was mailed to financial institutions across the nation last month.

Through text, charts and graphs, the 23-page booklet provides a synopsis of consumer and business attitudes on direct deposit and direct payment. The question-and-answer format allows readers to quickly skim the findings.

In addition, the summary also reveals how the researchers broke down the population into five segments and how each of these segments perceives direct deposit and direct payment. By analyzing these results, financial institutions can better understand the most logical directions to target their marketing of electronic payments.

For additional copies, call Cheryl McCarthy at (314) 444-8459. The complete results of the study are available at http://frbservices.org/communications/payment_system_research.html.

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