RegioBank survey: teens overconfident about secure payments and online payment fraud

76% of young people say they know what to look for to pay safely. But they don't always recognize WhatsApp fraud and what a money mule is is a mystery. Of teens, 1 in 4 also don't talk to parents about the different ways to pay that are available. This and more emerges from research into the payment behavior of high school students commissioned by RegioBank among 1,614 teenagers between the ages of 11 and 17.

Pay safely

Three-quarters of teens surveyed say they know well what to look for to pay safely. Yet one-third do not recognize WhatsApp fraud and two-thirds do not know what a money mule is. While more and more people are becoming victims of this form of fraud. Also, a quarter say they never or sometimes shield their PIN and 15% do not keep their PIN secret.

"Quarter of young people don't talk to parents about money matters"

With the use of payment instruments comes a responsibility to handle them safely. Especially with digital payment methods, there are all kinds of ways cybercriminals can victimize. Consequently, more than two-thirds (68 percent) of all Dutch people aged 15 years or older say they have received a phone call, e-mail or other message at least once in a year, probably from a scammer (Source: CBS).

Rein Wispelweij, director of RegioBank: "Children should recognize the different risks that payment requests, debit card payments and other payment methods entail. Now that schools are starting up again, young people will be making more payments and refunds. A good time to have a conversation with your teen about this. For example, do they shield their PIN when paying and how do they recognize a genuine payment request? With the Jongwijs education program we provide information about safe payments and payment fraud via letters and e-mails to make young people more resilient and help parents with this. Our independent advisors also give free lessons on handling money in schools and bank branches. During the first half of 2023, together they have already provided 244 lessons on handling money to 5,612 children."

Top 5 payment methods teens have access to:

1. Cash (93%)
2. Debit card (88%)
3. Payment request (51%)
4. Bank's mobile app (40%)
5. App/wallet on smartphone (15%)

About RegioBank

RegioBank has been serving the neighborhood for over 100 years with more than 440 independent advisors. In that time, the bank has grown into a familiar face in villages and small towns. The independent advisors know the people who live there and the entrepreneurs who are active there. RegioBank has a heart for its customers and the neighborhood. As a bank that knows what matters, RegioBank and its independent advisors are committed to creating a liveable neighborhood. With financial products, services and social initiatives, such as the VoordeBuurt Fonds, together with the Oranjefonds, and Samen voor de buurt. This is how the bank contributes to a neighborhood where people can live, work and relax. That is why RegioBank is the neighbourhood bank. RegioBank is part of Volksbank, together with SNS, ASN Bank and BLG Wonen.

The Independent Advisors of RegioBank within Alpina are located in Aalten, Apeldoorn, De Lier, Didam, Emmeloord, Lemmer, Nijverdal, Sint Odiliënberg, Vollenhove and Wehl.