Page 56 - Consumers and Mobile Financial Services 2014

48 Consumers and Mobile Financial Services 2014

Table C.7. Thinking of the most recent time you took out a Table C.9. Are any of the general purpose cards or payroll
payday loan, what was the main reason for using a payday cards you have used reloadable?
loan or payday advance service rather than a bank loan or Percent, except as noted
credit card?
Percent, except as noted Q9
Refused 0.9
Q7
Yes 38
Refused 3.9 No 42.3
The location of the payday lender was more convenient 19 Don’t know 18.9
The payday loan was much quicker to get than a bank loan or Number of respondents 420
credit card advance 18.5
I thought it would be easier to get a payday loan than to
qualify for a bank loan or credit card 14.8
I didn’t think banks made loans for small amounts of money 10.5
Table C.10. In the past month, did you or anybody else load
It felt more comfortable to work with the payday lender than to
use a bank 3.2 money to your prepaid card(s)?
I didn’t want the loan to show up on my credit report 0.1 Percent, except as noted
I didn’t think I would qualify for a bank loan or credit card 27.6
Other (Please specify): 2.4 Q10
Number of respondents 117
Refused 0.2
Yes 49.7
No 50.1
Number of respondents 158
Table C.8a. Have you used a general purpose prepaid card
in the past 12 months?
Percent, except as noted
Table C.11. Have you used each of the following financial
Q8a
products in the past 12 months?
Refused 1.1 Percent, except as noted
Yes 15.3
No 83.6 Q11
Number of respondents 2,657
Debit card or check card 73.9
Paper check 76
Major credit card 69.3
Store-branded credit card good only at the store that issued
Table C.8b. Have you used a payroll card in the past the card 35.6
12 months? Auto title loan 6.9
Percent, except as noted Check cashing services 7.4
Money order 15.3
Q8b Pawn shop loan 2.5
Number of respondents 2,657
Refused 1.1
Yes 3
No 95.8
Number of respondents 2,657
Table C.12. Have you spoken with a teller or a bank
employee at a bank branch in the past 12 months?
Percent, except as noted
Table C.8c. Have you used a government issued prepaid Q12
card in the past 12 months?
Percent, except as noted Refused 0.6
Yes 82.3
Q8c No 17.2
Number of respondents 2,441
Refused 0.7
Yes 8.3
No 90.9
Number of respondents 2,657