OECD/INFE survey instrument to

measure digital financial literacy

 1

Table of contents
1 The purpose of the OECD/INFE survey instrument to measure digital financial
literacy 2
Background 2
Use and objectives 3
Content 4
Scope 4
Sources and development 5

2 Methodology 7
Target population 7
Data collection methods 7
Minimum sample size 8
Use in combination with other surveys and adaptations 8
Coordinating and sharing with the OECD/INFE 9
Preparing the fieldwork 9

3 OECD/INFE questionnaire on digital financial literacy 13

Colour coding 13
Links to questions in the OECD/INFE 2022 Toolkit to measure financial literacy and inclusion 13
The questionnaire 14

References 28
Annex A. Overview of questions and scores 30
Overview of questions 30
Creating the scores 34

Annex B. Digital financial products and services 35

Tables
Table A A.1. Summary of questions 30
Table A B.1. Description of the DFS mentioned in the questionnaire 35

Boxes
Box 2.1. Key definitions 5
2

1 The purpose of the OECD/INFE

survey instrument to measure
digital financial literacy

Background

The OECD Recommendation on Financial Literacy recognises that new financial products and services,
including digital financial services, may change the way in which consumers make financial decisions and
product choices (OECD, 2020[1]). While the digitalisation of financial products and services may bring
benefits, it also contributes to the complexity of retail finance, in particular among the most vulnerable. It
also exposes individuals to new risks such as digital financial exclusion, online fraud or personal data
hacks.
This raises policy concerns as recent international financial literacy surveys (OECD, 2020[2]) indicate that
substantial sectors of the population across all economies surveyed do not possess adequate levels of
basic financial knowledge and are ill prepared to make savvy financial decisions. Low levels of digital
financial literacy can compound these weaknesses and have a negative impact on personal financial well-
being, with potential repercussion on financial inclusion and stability.
Higher levels of digital financial literacy can equip individuals with the knowledge, skills and attitudes
needed to successfully navigate an increasingly digital retail financial market. Digital financial literacy can
help individuals to benefit from innovative digital financial products and services while protecting
themselves from related risks such as digital financial exclusion, digital frauds and scams.

The need for an international measure for digital financial literacy

The OECD has developed internationally recognised instruments and encouraged the collection of
comparable data on financial literacy of adults, of owners of micro small and medium enterprises and of
students. This provided insights into the needs of individuals and households and allowed policy makers
and researchers to understand how equipped these are to benefit from developments in financial products
and services and to protect themselves from risks to their financial well-being. The collection of financial
literacy data and evidence continues to be a priority for the OECD and remains fundamental to the work
of the OECD/INFE.
Over the years, the OECD/INFE has created important tools to measure the financial literacy and inclusion
of adults (OECD, 2022[3]), MSMEs owners (OECD, 2020[4]) and students via the PISA assessment (OECD,
2019[5]) which have significantly improved the ability of countries to understand levels of financial literacy
and inclusion, benchmark themselves and monitor progress. These survey instruments have been updated
over the years to cover elements related to the use of digital financial services and other digital tools.
 3

Since 2022, thanks to work undertaken through the OECD/INFE Working Group on Digital Financial
Literacy towards an international definition and a set of questions, the OECD/INFE financial literacy survey
instruments also cover digital financial literacy.
Digital financial literacy is defined as:

a combination of knowledge, skills, attitudes and behaviours necessary for individuals to be aware of and safely
use digital financial services and digital technologies with a view to contributing to their financial well-being.

It is intended as a sub-set of financial literacy, required to be financially literate in the 21st century. Digital
financial literacy is measured by OECD/INFE Toolkit to measure financial literacy and inclusion 2022
(hereinafter the “OECD/INFE FL Toolkit”) (OECD, 2022[3]). Initial results on levels of digital financial literacy
in 39 countries and economies around the world are available in the OECD/INFE 2023 International Survey
of Adult Financial Literacy (OECD, 2023[6]).
However, policy makers and institutions might require a separate and more in-depth measure of digital
financial literacy when digital is the focus, for example to support the development of digital financial literacy
and inclusion strategies or to understand the risks and benefits faced by consumers in the light of the
increasing digitalisation of retail financial services.

Use and objectives

This OECD/INFE survey instrument to measure digital financial literacy (hereinafter “the DFL Survey
Instrument”) is designed to measure digital financial literacy in an internationally comparable way. It is
meant to be used as a stand-alone instrument to measure digital financial literacy, and to provide additional
insights into the relationship between individuals and the digitalisation of retail financial services compared
to the OECD/INFE FL Toolkit.
Policy makers and institutions using the OECD/INFE FL Toolkit and wishing to investigate additional
aspects of digital financial literacy not covered by it, could use questions from the DFL Survey Instrument
to expand the range of issues to investigate.
The implementation of the DFL Survey Instrument can offer valuable insights to design and implement
digital financial literacy and inclusion strategies, financial literacy programmes on digital financial services,
and to support user-centric product design, by providing information for the whole population and specific
target groups on:
• Digital literacy
• Digital financial literacy and its three components: knowledge, attitudes, and behaviours
• Digital financial inclusion, through digital product and services awareness, choice, and use
• The risks faced by consumers in the light of their access to and understanding of specific digital
products and services, such as digital payments, digital credit products, open banking
• Consumer awareness and understanding of elements of the regulatory framework applicable to
digital financial products and services in their jurisdiction
• Attitudes to personal data sharing.
The use of the DFL Survey Instrument can also add to the evidence base for efforts to support and monitor
the implementation of policy instruments such as the OECD Recommendation on Financial Literacy
(OECD, 2020[1]), the Updated G20/OECD High-Level Principles on Financial Consumer Protection (OECD,
2022[6]) and the G20 High-level Principles on Digital Financial Inclusion (G20, 2016[7]; G20 GPFI, 2022[8]).
4

Content

The OECD/INFE Survey Instrument to Measure Digital Financial Literacy incorporates:

• Methodological guidance
• Questions designed to measure digital financial literacy, including elements of digital access and
digital literacy, and personal characteristics
• Guidance on how to create the Digital Literacy score (DL score), the Digital Financial Services
Access and Use score (DFS score), and the Digital Financial Literacy score (DFL score).

Complementarity with the OECD/INFE Toolkit for Measuring Financial Literacy and
Financial Inclusion 2022

The DFL Survey Instrument includes the core questions developed to capture digital financial literacy and
calculate a Digital Financial Literacy score included in the OECD/INFE FL Toolkit.
In addition to these core questions, the DFL Survey Instrument contains:
• A larger set of questions to capture digital financial literacy and explore further elements of digital
financial literacy not covered by OECD/INFE FL Toolkit
• More questions on digital literacy than in the OECD/INFE FL Toolkit, allowing the calculation of a
Digital Literacy score (DL score)
• More questions on access and use of DFS than in the OECD/INFE FL Toolkit, allowing the
calculation of a Digital Financial Services Access and Use score (DFS score).

Scope

For the purposes of this instrument, digital financial literacy is measured in accordance with the definition
of developed by the OECD/INFE in previous work (OECD, 2022[9]), building on existing international
publications and on discussions with OECD/INFE policy makers and researchers (see Box 1.1).
The questionnaire covers:
• Behaviours linked to digital financial literacy
• Attitudes linked to digital financial literacy
• Digital financial knowledge.
In addition, the questionnaire collects information on:
• Digital access and digital literacy
• Digital financial inclusion, through questions that capture awareness, holding and use of digital
financial products and services
• Questions about socio-demographic variables.
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Box 1.1. Key definitions

Financial literacy: a combination of financial awareness, knowledge, skills, attitudes and behaviours
necessary to make sound financial decisions and ultimately achieve financial well-being.
Digital financial literacy: a combination of knowledge, skills, attitudes and behaviours necessary for
individuals to be aware of and safely use digital financial services and digital technologies with a view
to contributing to their financial well-being.
Digital financial inclusion refers broadly to the use of digital financial services to advance financial
inclusion. It involves “the deployment of digital means to reach financially excluded and underserved
populations with a range of formal financial services suited to their needs, delivered responsibly at a
cost affordable to customers and sustainable for providers.” Digital is a means of distribution and reach
of formal financial services, and not a goal in itself.
Digital financial services (DFS) can be defined as financial operations using digital technology,
including electronic money, mobile financial services, online financial services, i-teller and branchless
banking, whether through bank or non-bank institutions. DFS can encompass various monetary
transactions such as depositing, withdrawing, sending and receiving money, as well as other financial
products and services including payment, credit, saving, pensions and insurance. DFS can also include
non-transactional services, such as viewing personal financial information through digital devices.
Sources: (OECD, 2020[1]; OECD, 2022[9]; OECD, 2017[10]; OECD, 2020[11]).

Development

The DFL Survey Instrument has been developed through an iterative process in 2022/23 and approved in
November 2023. OECD/INFE members have reviewed and discussed it through the Working Group on
Digital Financial Literacy as well as the Technical Committee.

Sources

The development of this survey instrument has been informed by several outputs of the OECD/INFE, as
well as work undertaken by the OECD/INFE Secretariat with the European Commission and the G20.
These include:
• The OECD/INFE 2023 International Survey of Adult Financial Literacy (OECD, 2023[6]).
• The development of a digital financial literacy survey as part of the project to develop a Digital
Financial Literacy Strategy for Portugal, with the support of the European Commission DG
REFORM. The current survey instrument and the one developed for Portugal refer to the same
concepts but the survey for Portugal is tailored to the national context and the needs of the project
(OECD, 2023[15]).
• The Financial competence framework for adults in the European Union (European Union/OECD,
2022[14]).
• The Implementation Guide for the G20 High-Level Principles for Digital Financial Inclusion (G20
GPFI, 2022[8])
• The report “Personal Data Use in Financial Services and the Role of Financial Education: A
Consumer-centric Analysis” (OECD, 2020[13]).
• The report “Cryptoassets in Asia. Consumer attitudes, behaviours and experience” (OECD,
2019[16]).
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• The G20/OECD-INFE Policy Guidance on Digitalisation and Financial Literacy (OECD, 2018[12]).
In addition, the OECD/INFE Working Group on Digital Financial Literacy reviewed existing descriptions of
digital financial literacy and digital literacy, which have inspired this work. Notable references include in
particular:
• European Commission (2021), Survey on the use of ICT in households and by individuals
(European Commission, 2021[17])
• Morgan P., Huang B. and Trinh, L (2019), The Need to Promote Digital Financial Literacy for the
Digital Age (Morgan, Huang and Trinh, 2019[18])
• Josephine Kass-Hanna, Angela C. Lyons, Fan Liu (2022), Building financial resilience through
financial and digital literacy in South Asia and Sub-Saharan Africa (Kass-Hanna, Lyons and Liu,
2022[19])
• Lyons, Angela and Kass-Hanna, Josephine (2021), A Multidimensional Approach to Defining and
Measuring Financial Literacy in the Digital Age (Lyons and Kass-Hanna, 2021[20]).

Pilot

In March 2023, ahead of its finalisation, the DFL Survey Instrument has been piloted by the Central Bank
of Austria, the Investor and Financial Education Centre, Hong Kong (China), the Reserve Bank of India,
the Central Bank of Italy, the Central Bank of Mexico and the Saudi Central Bank (SAMA). In addition,
Central Bank of Malaysia (Bank Negara Malaysia), provided feedback on the digital financial literacy
questions included in the OECD/INFE FL Toolkit.
As part of the pilot, the DFL Survey Instrument was translated into Arabic, Assamese, traditional Chinese,
German, Gujarati, Hindi, Italian, Kannada, and Spanish and implemented on samples as large as over 500
adults. The survey was distributed online and face-to-face, including through Computer-Assisted Personal
Interviews (CAPI).
The feedback from the pilot exercise has confirmed the applicability of the DFL Survey Instrument across
a very diverse range of jurisdictions and has been very useful in fine-tuning the questionnaire. Minor
revisions have been made throughout the questionnaire, for example clarifying statements that could lead
to confusion, or removing statements that proved difficult to understand.
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2 Methodology
The questionnaire included in this survey instrument is designed to collect relevant information about digital
financial literacy, including digital literacy and digital financial inclusion, within a jurisdiction or selected
groups of the population1, and to compare such levels across countries. It can be undertaken alone or can
be used in full or in part as a complement to financial literacy or digital literacy surveys.

Target population

The sample should be representative of adults in the country. For the sake of international comparisons,
the intended population is adult individuals aged between 18 and 79. If additional respondents outside
of this age range are included, the sample size should be increased as necessary, to ensure a sufficiently
large sample of individuals within the international target. In countries where 79 is outside of the normal
range for surveying, it would be preferable to set the upper age boundary to 69, in keeping with the
suggested age bands used for analysis.

Data collection methods

Institutions wishing to undertake or commission the DFL Survey Instrument should carefully choose the
most appropriate data collection method in order to obtain a representative sample of the target population
in their country. The methods used can be identified in the dataset and taken into account during analyses.
Users should balance the advantages and disadvantages of different methods of data collection in their
own national context and may consider the use of mixed methods.
The use of online data collection is suitable in countries with very high levels of literacy and high levels of
internet penetration, or among segments of the population that may be hard to reach in other ways
(potentially including young people). In some countries, online data collection methods have become
commonplace as they have several advantages, including reduced cost and ease of collecting and
managing the resulting data. They also allow people to respond to potentially sensitive questions in an
anonymous and private manner.
However, as with all approaches to collecting data, online surveys also pose certain challenges.
Responding to an online survey requires levels of reading and digital literacy that can be higher than what
is required to access and use basic digital financial services. Adopting a fully online data collection method
might therefore exclude from the sample groups that, depending on the economy, might represent an
important sector of the population using DFS and an important potential target of digital financial literacy
policies and programmes.

1
The questionnaire can also be used to measure the digital financial literacy of a smaller population, such as the
population of a region, or the employed population. Users should note that there may be relatively little variation in
scores if the population being surveyed is particularly homogenous.
8

Therefore, even in countries with high levels of internet penetration and functional literacy, the use of
telephone or face-to-face interviews may be considered as a complement to online methods to reach
audiences with low levels of digital literacy and ensure that the sample is truly representative of the adult
population.

Minimum sample size

The descriptive power of a sample size does not depend on the size of the population. A minimum
achieved sample size of 1,000 participants per country should be collected for international comparisons
and to analyse the national data by key socio-demographics such as gender and age. To interview 1,000
participants, survey agencies should have an original sample of 1,700 valid contact details from which to
draw participants.2 With an achieved sample of 1,000 participants, this will give a 95% confidence interval
on a finding of 50% of around 47% to 53% (assuming a random sample). Countries should be aware that
if they intend to undertake detailed analyses of differences within differences (such as financial literacy by
gender within regions), or if they wish to increase the precision of the estimates, they will require larger
sample sizes.3

Use in combination with other surveys and adaptations

Use to complement the OECD/INFE Toolkit to measure financial literacy and inclusion

Countries and institutions using the OECD/INFE Toolkit to measure financial literacy and inclusion 2022,
or subsequent versions of the OECD/INFE Toolkit, could use parts or entire questions from this survey to
capture additional elements of DFL not measured by the OECD/INFE 2022 Toolkit and complement some
of its questions (see questions colour coded in blue).

Use to complement other surveys

There are various approaches to using the questions contained within this questionnaire, depending on
whether they will be used alone, or in combination with questions from other sources:
• If the core questions will be added to a larger survey, they should be grouped with other questions
that address similar topics (and care should be taken not to make the questionnaire too long).
• If additional questions are going to be added to the questions they should be grouped with similar
topics. The length of the questionnaire should be taken into account.
• If the questions are used without any additional questions, the question order should be retained.

Adaptations

Some questions should be adapted to the national context to be fully relevant to respondents. This refers,
in particular, to questions containing lists of financial products and services. This is indicated in <> within
the text of certain questions.

2
It is important to strive for a good response rate. However recent statistics suggest that it is becoming increasingly
difficult to encourage participation in surveys, and so it may be necessary to adjust the original sample accordingly to
interview 1000 respondents.
3
There are many tools developed to help with sample size determination. See for example
https://www.surveysystem.com/sscalc.htm
 9

A description of the DFS included in the questionnaire is provided in Annex A. Users planning to translate
and adapt the questionnaire should consider these definitions to maintain the original meaning of the
questions.

Coordinating and sharing with the OECD/INFE

This survey instrument is made available for public use by interested parties. Institutions wishing to use
the questionnaire are invited to inform the OECD/INFE Secretariat, to ensure that they have the most up-
to-date questionnaire. While no separate data collection using this toolkit is organised at this stage,
countries and institutions using the questionnaire on representative national samples are encouraged to
consider giving the OECD permission to use and/or share the anonymised raw data for research purposes
and for further international comparisons.
Institutions using the questionnaire are requested to cite it and to inform the OECD/INFE
Secretariat ([email protected]) about any publication using data collected with the
questionnaire.

Preparing the fieldwork

Institutions seeking to commission a survey based on this questionnaire should identify a reputable agency
(this may be a private company or a government body), with proven experience and the capacity to
complete the process within the required timeframe. Where a survey agency is engaged to conduct the
survey, it should be able to provide information about all aspects of the process including, but not limited
to the following:

Achieving a robust sample

It is important to discuss with the survey agency how the sample will be drawn. It should be possible to
draw a sample where each individual has a known probability of being selected. In some cases, it may
also be necessary to stratify the population to reach particular groups, or even to replace probability
sampling with quotas in order to ensure that the sample includes certain minorities. A good survey agency
will be able to recommend the best approach for a given population. 4 In many countries, the approach
taken is to randomly select locations to sample from, and then set a quota to make sure that the
interviewees are representative of the groups of interest. Commissioning institutions should discuss with
survey agencies the benefit of setting quotas and/or including booster samples of hard-to-reach groups
and the implications in terms of sample size and confidence in the results. They should also consider the
policy implications of (not) having robust data on certain subgroups.
The survey agency should have a reputation and strategies in place for ensuring good response rates. It
is recommended that survey agencies are given a target response rate of 60% - that means that at least
60% of the people that they contact to take part in the survey should be interviewed. This may mean
attempting to contact a sampled individual several times before quitting. The agency should be able to
show that they have strategies in place (such as contacting people at different times of the day) in order to
reach a representative cross-section of the population.

4
For further information on sampling refer to Dorofeev, S. and P. Grant, (2006), Statistics for Real-life Sample Surveys,
Cambridge University Press, Cambridge.
10 

Preparing the questionnaire for fieldwork

The entire questionnaire (except any optional questions that have not been chosen), including all
interviewer instructions, should be translated into national languages, as appropriate.
It is important that questions are translated so that they retain the same meaning; translators should have
a good understanding of vocabulary describing digital financial services as well as words that could be
translated in more than one way, such as ‘saving’. It is advisable to have more than one translator work on
the document in parallel, and to discuss any discrepancies/disagreements with the commissioning body
before fielding the translated document.
Whether or not the questionnaire will be translated, it will be necessary to modify contextual information
and some examples given on specific questions– these questions are indicated in the questionnaire.
The translated and modified questions should be tested on a few individuals before starting fieldwork to
make sure that the translation is easy to understand, and the options are clear. If the questions are not
well understood, or there is any concern that the question wording is ambiguous, then this must be
addressed before fieldwork begins.
One question asks the respondent about their household. For this survey, please consider a household to
be represented by the following basic definition: A household is composed of either a) a group of people
(adults and/or children) living in the same dwelling space who each acknowledge the authority of the same
person or couple as the head(s) of household or b) a lone individual. A young adult living at home should
be encouraged to discuss their own financial situation rather than that of their parents. Interviewers are
invited to explain the definition when asking question QD13. If the survey is administered online, the
definition of household should be provided together with question QD13.
Once the questionnaire has been prepared in the national language(s) it may be necessary to enter it into
a software package designed to make it easier for the interviewer to collect the data. Care should be taken
to make sure that the package allows responses to be stored in the required formats (e.g., letters or digits,
decimal places) and that the questions fit a single page of the screen where possible – to aid the interviewer
when reading. The programme will need to take into account all filters indicated in the paper questionnaire,
in order to make sure that the intended respondents are questioned in sufficient depth and unintended
respondents are not asked irrelevant questions.

Interviewers’ briefing

If the survey is undertaken face-to-face or through the telephone or through a combination of methods that
includes these, interviewers and their manager(s) should be provided with a thorough briefing before
undertaking the survey. This would ensure that they fully understand the purpose of the survey and the
mechanics of the questionnaire. The interviewers are working on behalf of the commissioning body, and a
poorly prepared interviewer will not only collect low quality data but will also risk damaging the public image
of the body commissioning the research. For detailed guidance on how to brief interviewers, please see
the OECD/INFE Financial Literacy Toolkit (OECD, 2022[3]).

Fieldwork and data collection

The survey agency will describe the purpose of the survey and its likely length to the potential participant
and encourage them to take part in this important research. The institution commissioning the survey
should work with the agency to ensure that the description is clear and unambiguous.
It is important that interviews are conducted at different times of day and throughout the week. It is also
important to try to contact the identified person several times, if the first attempt is unsuccessful. Without
these steps, it is very likely that people who are most often home, such as the elderly, homemakers,
  11

students or the unemployed, will be more likely to participate than would be the case in a truly random
selection and the results may well be biased as a result.
When introducing the questionnaire, the interviewer should make it clear to the respondent that the
commissioning body is interested in their own personal situation and views rather than that of the
household or main earner, unless otherwise stated. For languages that differentiate between ‘you’ in the
singular, and ‘you’ in the plural, the singular version should be used for translation purposes in all questions
that do not explicitly ask for information about the household.
The interviewers should ask the questions in the order that they are laid out in the national questionnaire,
without changing the wording and they should immediately record the responses. If necessary, they can
go back to previous questions to make a correction or clarify a point (such as when asking about the
product chosen most recently). The questionnaire is designed so that respondents do not need to read
any of the questions or write down their answers. 5 It is important to inform and reassure respondents that
their responses are confidential and encourage them to participate to have complete information. However,
they must never be put under pressure or rushed to answer anything that they do not want to answer –
doing so is unethical and is also likely to significantly bias their responses.
Interviewers should not read out response category options that are written in italics (such as “don’t know”).
However, if the respondent spontaneously gives a response that matches an option in italics, the
interviewer should record this accordingly.

Data handling and preparation for analysis

The information provided by participants will become the raw data for the financial literacy measure. This
raw data will need to be held in a software package such as Excel, SPSS or Stata in order to facilitate
detailed analysis. For international comparison it is important to use the coding guide provided in the right-
hand column of the questionnaire when inputting data in order to have data that can be included in the
cross-country analyses. Similarly, for international comparisons, it will be important to store the data in the
dataset template prepared by the OECD/INFE Secretariat, available upon request in SPSS, Stata, and
Excel formats.
Commissioning institutions should check that the data are being stored and handled securely and in
accordance with appropriate national or international data protection regulations and guidelines. At a
minimum, the survey agency should not store any financial data (such as household income) alongside
personal information such as name, phone number or address. They must also ensure that none of the
contact details collected during fieldwork are used for any purpose other than to validate the survey
responses or to follow up the respondent during the next phase of fieldwork (if conducting a longitudinal
study). Data confidentiality statements should be provided to participants and adhered to.
The survey agency will be responsible for providing appropriate weights 6 for the analysis, taking into
account the probability of selection and making sure that the data are representative of the population in
terms of i) individuals (not households); ii) gender mix; and iii) age profiles. It may also be necessary to
weight the data according to region; if this is likely to be the case the survey agency should ensure that
this information is recorded. It is important for international comparisons that the weights are labelled
appropriately, and that documentation is created describing how they were established, and their purpose,
with clear instructions for use.

5
In practice, some agencies have preferred to create a card of potential options for respondents to read through. Such
a decision should be made at the country level taking into account the levels of literacy and possible bias that such an
approach may have.
6
Weighting is designed to adjust samples when certain groups are over or under-represented in the sample.
12 

The survey agency will need to prepare the data for analysis (using the dataset template provided by the
OECD/INFE). The survey agency should check that values have been entered correctly, for example, and
add relevant labels. They may create basic tables at this stage, to show that each of the questions has
been asked, and to report the number of valid responses to each question. This will enable the
commissioning institution to check the quality of the data and to identify potential issues (such as
oversampling of certain groups).
It is important that the commissioning body also can go back to the original records collected by the survey
agency, and to individual interviewers, if necessary, in order to clarify any issues that are highlighted by
the analysis process. It is recommended that this is written into any contract with the survey agency for a
minimum of 4 months after the receipt of data (12 months is recommended).
  13

3 OECD/INFE questionnaire on digital

financial literacy

These questions can be administered through online surveys or can be read out loud by an interviewer (by
telephone or face to face).
The right-hand column of each question indicates the variable name and label that should be used to
facilitate international comparison as well as the corresponding question in the OECD/INFE FL Toolkit
when relevant.
Some questions would benefit from the inclusion of national examples to help respondents understand the
content of the questions.

Colour coding

The questions in the questionnaire are categorised by colour:

• Questions in black are equivalent to questions included in the OECD/INFE FL Toolkit.
• Questions in green are optional.
• Questions in blue are new questions that are not included in the OECD/INFE FL Toolkit. They can
be used to capture additional elements of DFL not measured by the OECD/INFE FL Toolkit.

Links to questions in the OECD/INFE Toolkit to measure financial literacy and

inclusion 2022

When applicable, the questionnaire explains the relationship with questions in the OECD/INFE FL Toolkit,
indicating whether these are equivalent or if there is a partial correspondence.
14 

The questionnaire

Personal characteristics

ASK ALL
NOTE TO AGENCY: the option “Other answer” may be removed if deemed sensitive in the country.
RECORD OR ASK ALL
Gender QD1
Equivalent to FL Toolkit
question: QD1
Label: Gender
Male 1
Female 0
Other answer -98
Refused -99

NOTE TO AGENCY: If this question is read out (for a telephone interview) or included in an online
questionnaire, the respondent should be asked about the community they live in. Those who are away
from their usual community, such as temporary migrants, adults being cared for away from home, or
students in a different city, can provide information about the community they are living in at the time of
the interview, even if it is not their usual community.
RECORD ALL OR ASK ALL.
Could you tell me which of these best describes the community you currently live in, please? QD3
Equivalent to FL Toolkit
question: QD3
Label: Urban
A village, hamlet or rural area (fewer than 3 000 people) 1
A small town (3 000 to about 15 000 people) 2
A town (15 000 to about 100 000 people) 3
A city (100 000 to about 1 000 000 people) 4
A large city (with over 1 000 000 people) 5

ASK ALL
Please could you tell me how old you are, currently? QD7
Equivalent to FL Toolkit
question: QD7
Label: Age
Age: Minimum value='18' __
Refused -99
  15

Note to agency: For face-to-face interviews this can be put onto a showcard, and the respondent can give
the corresponding letter. Do not include ‘refused’ on a showcard. If the interviewer is reading out the
categories, it is not necessary to start from 18 if it is clear that the respondent is older.
ASK THOSE WHO REFUSED TO ANSWER QD7
Would you {instead} tell me which of these age bands you fall into? QD7_a
Equivalent to FL Toolkit
question: QD7_a
Label: Age bands
18-19 1
20-29 2
30-39 3
40-49 4
50-59 5
60-69 6
70-79 7
80+ 8
Refused -99

Access to the internet

Note to agency: this question is relevant if data collection takes place face-to-face or via the telephone. It
may therefore need to be adapted or dropped depending on the method of data collection.
Note to agency: access to the internet in this question covers cases in which the responding individual has
independent access, i.e., through their mobile phones, the household’s broadband, hot-spots or wi-fi at
school or work. It does not cover access to the internet through the mobile of a family member or mobile
subscription plans that only give access to social networks and messaging apps: this might be specified
by the interviewer or in the online survey in jurisdictions in which this is widespread.
ASK ALL
Do you have access to the internet, including through your mobile phone, your household’s broadband QDL1
connection, hot-spots. or wi-fi, at home, at school or at work? Similar to FL Toolkit
question: QD14, with
edits
Label: Internet
Yes 1
No 0
Do not know -97
Refused -99

IF QDL1= DO NOT KNOW or REFUSED, STOP INTERVIEW

IF QDL1= NO, go to QDL1_a
16 

OPTIONAL QUESTION
ASK if QDL1 = No THEN STOP THE INTERVIEW
INTERVIEWER READ OUT: I will now read you a list of possible reasons which might explain why you do
not have access to the internet. Please tell me if these describe your situation, you can choose more than
one.
Please indicate whether these reasons describe why you do not have access to the internet QDL1_a
MULTICODED. Create a single variable for each response. Record responses as: 1='Yes, this reason applies to me,' Label: <Label using
0='No, this reason does not apply to me,' -97='Don’t' know, -99=Refused. statements>
I do not have Internet coverage where I live 1
I cannot afford the subscription to the Internet 2
I think the internet subscription is too expensive even if I could afford it 3
I cannot afford the equipment to use the Internet 4
I do not have the equipment to use the Internet 5
I do not want it 6
I do not need it 7
I do not have time to use it 8
It is too complicated to use 9
It is not safe 10
Other reason (please specify) 11

After answering to QDL1_a, STOP INTERVIEW

Online behaviours and digital literacy

ASK if QDL1 = Yes

Thinking about the last 12 months, how often have you used the Internet? QDL2
Label: <Internet past 6
months>
Never 1
About once a month 2
About once a week 3
Almost every day 4
Don’t' know -97
Refused -99

ASK if QDL1 = Yes

Thinking about the last 12 months, how often have you used each of the following devices to access the QDL3
internet?
MULTICODED. Record responses as 1='Never,' , 2= About once a month or less,' 3= About once a week, 4='Almost Label: Devices
Every day' -97='Don’t' know. -99=Refused
Desktop or laptop computer _1
Mobile phone/Smartphone (e.g., iPhone, Samsung Galaxy, <other examples>) _2
Tablet (e.g., iPad) _3
Other device (smart TV, smart speakers, game console, e-book reader, smart watch etc.) _4
Refused entire question -99
  17

ASK if QDL1 = Yes

In the last 12 months, how often have you done the following? QDL6
Corresponds to FL
Toolkit question: QD6
MULTICODED. Create a single variable for each statement. Record responses as 1='Never,' 2='Sometimes,' Label: <Label using
3='Often', 4='Very often' -97='Don’t' know. -99=Refused statements>
Written documents on a personal computer (desktop or laptop) DL score _1
Sent or received an email DL score _2
Used a mobile phone to make calls DL score _3
Made video calls DL score _4
Participated in social networks online (such as <national examples>) DL score _5
Used instant messaging applications (such as <national examples>) DL score _6
Looked for information online (such as looking for information about goods and services) DL score _7
Undertook administrative tasks online (such as <national examples>, including paying taxes, applying for public _8
benefits, making appointments with the public administration, etc.) DL score
Accessed the news online (through websites or mobile apps) DL score _9

OPTIONAL QUESTION
ASK if QDL1 = Yes
Note to agency: it is possible to ask this question only to certain age brackets based on responses to
QD7_a
When using digital technologies, do you need the help of relatives or friends? QDL6_a
Record responses as 1='Never,' 2='Sometimes,' 3='Often', 4='Very often', 5 ‘Always’, -97='Don’t' know. -99=Refused Label: help to use IT
Never 1
Sometimes 2
Often 3
Very often 4
Always 5
Don’t' know -97
Refused -99

ASK if QDL1 = Yes

In the last 12 months, have you carried out any of the following regarding the access to your personal data? QDL7
MULTICODED. Create a single variable for each response. Record responses as: 1='Yes,' 0='No,' -97='Don’t' know, Label: <Label using
-99=Refused. statements>
Changed the password of one of your devices (smartphone, computer) DL score _1
Changed the password of an online account (social media, e-commerce website, etc.) DL score _2
Checked that a website where you provided personal data was secure (e.g., https sites, safety logo or certificate) DL _3
score
Read privacy policy statements before providing personal data DL score _4
Restricted or refused access to your geographical location DL score _5
Limited access to your profile or content on social networking sites DL score _6
Refused the use of your personal data for advertising purposes DL score _7
Requested access to your personal data stored by websites or providers [if applicable in the jurisdiction] _8
Granted websites the permission to store your personal financial information (such as debit or credit card number, _9
account number, passwords, etc.) DL score
18 

Digital financial inclusion and use of DFS

INTERVIEWER READ OUT: The following set of questions is about digital financial products and
services. I will not ask you about the balance of any accounts you hold, we are just interested in
whether you have heard of them or used them on your own or together with someone else.
NOTES TO AGENCY/INTERVIEWER:
• These three questions are used to develop indicators of digital financial inclusion; and to provide
context for the digital financial literacy questions that follow. If space is at a premium, they could
be shortened or omitted.
• The list of product types used in the national questionnaire should be specific to the country,
and should cover digital payment, savings, investments, credit and insurance products as relevant.
If necessary, give examples.
• It is not mandatory to use each item of the list of DFS provided if these are not available to
consumers in the jurisdiction. See also Annex B for definitions and explanations of the different
products.
• QDP1 should be asked of every product type that you are interest in and used to filter the list of
products for the following questions.
• QDP2 should only be asked for product types that the respondent has heard of at QDP1.
• QDP3 is asking about recent product choice, irrespective of current product holdings. For this
reason, it should be asked about all products that the respondent has heard of at QDP1, not only
product types mentioned at QDP2.
• For each question, create one variable for each product type, plus one variable for don't know, and
another for refused. For example, the first question will have one variable named QDP1 _1 and
labelled Heard of mobile/cell phone payment account. This variable will take the value 0 if
respondent says No, and 1 if respondent says Yes.
  19

ASK if QDL1 = Yes

QDP1 / QDP2 / QDP3
Correspond to FL Toolkit questions (with edits): QP1 / QP2 / QP3
Labels: Heard of [followed by product]; Currently holds [ ]; Recently chosen [ ].
MULTICODED. Create a single variable for each response. Record responses as: 1='Yes,' 0='No,' -97='Don’t' know, -99=Refused.
INTERVIEWER READ OUT ASK ALL Please can you ASK IF QDP1=Yes and now ASK IF QDP1=Yes.
RELEVANT PRODUCT TYPES EACH tell me whether you can you tell me whether you and in the last two years, which of
TIME. MARK ALL THAT APPLY. have heard of any of [personally or jointly] currently the following types of products or
these types of financial hold or use any of these types services have you chosen
products or services of products or services [Personally or jointly] whether or
not you still hold them… Please
All items contribute to the DFS do not include products that were
score renewed automatically
Pension products that can be acquired
fully online (such as <national
examples>) _1 _1 _1
Investment services that can be
acquired fully online, excluding pension
products (such as <national examples>) _2 _2 _2
Mortgage that can be acquired fully
online _3 _3 _3
Short-term online credit allowing you to
buy now and pay later with interest
(e.g., <national examples, Klarna, etc.>) _4 _4 _4
Other credit that can be acquired fully
online, excluding mortgages (e.g.,
online credit, payday lending, consumer
credit) (such as <national examples>) _5 _5 _5
<Current/payment> account or
<savings/deposit> account that can
only be opened and accessed online
(such as <national examples>) _6 _6 _6
Payment or debit card acquired online _7 _7 _7
Saving products that can be acquired
fully online (such as <national
examples>) _8 _8 _8
Insurance that can be acquired fully
online (such as <national examples>) _9 _9 _9
Mobile/cell phone payment account [not
directly linked to a bank account] such
as <national examples>) _10 _10 _10
Digital or mobile wallet (such as Apple
Pay, Google Pay, <national examples>) _11 _11 _11
Cryptocurrencies (such as Bitcoin,
Ether, Ripple, <other examples>) _12 _12 _12
Stablecoins (such as Tether, <other
examples>) _13 _13 _13
Non-fungible tokens (NFT) _14 _14 _14
Crowdfunding, crowd investing, or peer-
to-peer lending (<provide national
examples if any>) _15 _15 _15
[country specific product 1] _add_1 _add_1 _add_1
Don’t know response given to the
question as a whole _97 _97 _97
None _98 _98 _98
Refused to respond to the question as a
whole _99 _99 _99
20 

OPTIONAL QUESTION
ASK if QDL1 = Yes
Note to agency: it is possible to ask this question only to certain age brackets based on responses to
QD7_a
When using any of the digital financial products and services mentioned in the previous question, do you QDP2_a
need the help of relatives or friends?
Record responses as 1='Never,' 2='Sometimes,' 3='Often', 4='Very often' 5 ‘Always’ -97='Don’t' know. -99=Refused Label: help to use DFS
Never 1
Sometimes 2
Often 3
Very often 4
Always 5
Don’t know -97
Refused -99

ASK if YES at any of QDP3.

Please indicate which of the following statements best describes how you made your most recent choice QDP5
of digital financial products or services Equivalent to FL Toolkit
DFL score – behaviour (addition compared to FL Toolkit) question: QP5
INTERVIEWER: READ OUT; RECORD ONLY ONE THAT BEST DESCRIBES… <Label using statement>
I considered several options from different companies before making my decision 1
I considered various options from one company 2
I didn’t consider any other options at all 3
I looked around but there were no other options to consider 4
Do not know -97
Not applicable -98
Refused -99

ASK if YES at any of QDP3.

... and which of these sources of information do you feel significantly influenced your decision to buy the QDP7
most recent digital financial product or service? Corresponds to FL Toolkit
question: QP7 (with edits)
MULTICODED. Create a single variable for each statement. Record responses as 1='Yes,' 0='No,' -97='Don’t' Label: information source
know. -98 not applicable, -99=Refused
Best-buy guidance (such as specialist magazines or consumer organisation’s advice) _1
Price comparaisons (e.g., website, magazines etc.) _2
A recommendation from an independent financial advisor [Note to agency: if necessary, clarify that independent _3
advisors are fee-based, and should not include commission-based ones]
Information from an advert, including on the internet (social media, email, sponsored ad on websites) _4
A recommendation from friends, family or acquaintances _5
A recommendation from people you do not know (such as social media or “influencers”) _6
Information provided by staff of the financial product provider (in person, online or over the phone) _7
Some other type of information, please specify _8
  21

OPTIONAL QUESTION
ASK If YES to QDP3_12, QDP3_13, QDP3_14
How did you acquire these crypto-assets? Question QDC1
MULTICODED. Create a single variable for each statement. Record responses as: 1='Yes,' 0='No,' -95='Don’t'
understand the question, -97='Don’t' know, -98 Not relevant,-99=Refused
I bought them at a dedicated kiosk (e.g., an ATM-like machine) _1
I bought them on an online platform (e.g., like Coinbase, Binance, OKX. Kraken, etc.) _2
I mined them _3
I received them in payment for goods or services _4
They were transferred to me from family or friends _5
Other, please specify: _6

OPTIONAL QUESTION
ASK If YES to QDP3_12, QDP3_13, QDP3_14
Why did you acquire these crypto-assets? Question QDC2
MULTICODED. Create a single variable for each statement. Record responses as: 1='Yes,' 0='No,' -95='Don’t'
understand the question, -97='Don’t' know, -98 Not relevant,-99=Refused
To support initiatives that build on blockchain technology _1
To use as a means of payment for online purchases _2
To make domestic or cross-border money transfers _3
For fear of missing out _4
For fun _5
To know more about crypto-assets _6
To make money quickly _7
As a long-term investment or retirement fund _8
To diversify your overall investment portfolio _9
To leave an inheritance _10
To pay less taxes (e.g., by storing sums of money outside of the formal financial system) _11
Other, please specify: _12
22 

ASK if QDL1 = Yes

In the last 12 months, how often have you done the following? QDP9
Equivalent to FL Toolkit
question: QP9
MULTICODED. Create a single variable for each statement. Record responses as 1='Never,' 2='Sometimes,' <Label using statement>
3='Often', 4='Very often' -97='Don’t' know. -98 =Not applicable, -99=Refused
Checked the balance and transactions of your bank account online DFS score _1
Recharged a pre-paid card online (e.g., <national examples>) DFS score _2
Paid bills online DFS score _3
Bought goods and services online DFS score _4
Transferred money to others online [note to agency: this should not include money sent through agents] DFS _5
score
Managed financial products and services (such savings, investments, credit, insurance) online DFS score _6
Paid for goods and services in a physical shop with a mobile phone (e.g., using a QR code or mobile wallet, such _7
as Apple Pay, Google Pay, <national examples>) DFS score
Used a website or app that gives you access to your different financial accounts in one single place (e.g., _8
<national examples>) DFS score
Used an online platform for trading stocks and shares DFS score _9
Consulted an online platform for automated financial advice (e.g., <national examples of robo-advice>) DFS _10
score
Accessed different financial accounts from the mobile app of your bank _11
Received government benefits online _12
[country specific action 1] (e.g., usage of services such as biometric machines or micro-ATMs) _add1

OPTIONAL QUESTION
ASK If “Sometimes”, “often” “very often” TO QDP9_8
Regarding your use of a website or app that aggregates several financial accounts, please indicate how QDP10
much you agree or disagree with each of these statements
MULTICODED. Please use a scale of 1 to 5, where: Label: Issues
1 tells me that you completely disagree with the statement, and 5 shows that you completely agree
I save time by accessing all my account information through a single platform _1
It makes it easier to budget and monitor expenditure _2
It helps me plan for the long-term _3
It makes it easier to compare providers, in order to minimise fees and charges _4

OPTIONAL QUESTION
ASK If “Never” TO QDP9_8
You indicated that you never use a website or an app that gives you access to all your financial accounts QDP11
in one single place. Please indicate whether the following statements apply to you
MULTICODED. Create a single variable for each statement. Record responses as: 1='Yes,' 0='No,' -95='Don’t' Label: Issues
understand the question, -97='Don’t' know, -98 Not relevant,-99=Refused
I only have one financial service provider _1
I have never heard of this possibility _2
I do not trust third-party providers with my personal data _3
I am not able to use such account aggregators _4
  23

ASK if QDL1 = Yes

Thinking about financial products and services in general, in the last 2 years, have you experienced any of QP10
the following issues? Equivalent to FL Toolkit
question: QP10
MULTICODED. Create a single variable for each statement. Record responses as: 1='Yes,' 0='No,' -95='Don’t' Label: Issues
understand the question, -97='Don’t' know, -98 Not relevant, -99=Refused
{Have you} accidently provided personal financial information (such as passwords or card number) in response to _1
an email, phone call or social media message that you later found out was not genuine?
{Have you} discovered that someone has used your <card> details to pay for goods without your authorisation? _2
{Have you} lost money as a result of hackers or phishing scams? _3
{Have you} accepted online advice to invest in a product that ended up being a scam _4
{Have You} accidentally downloaded an application/clicked on external links, from unknown/unauthorised sources _5

Digital financial literacy

ASK if QDL1 = Yes

How often would you say this statement applies to you? QDS2
For each statement, could you tell me whether it Always, often, sometimes, rarely or never applies to you? Corresponds to FL Toolkit
question: QS2
MULTICODED. Create a single variable for each statement. Record responses as: 1= ‘Never,' 2, 3, 4, 5='Always,' <Label using the
-97='Don’t' know, -98 Not relevant, or -99=Refused. statement>
I share the passwords and PINs of my bank account with my close friends DFL score – behaviour _1
Before buying a financial product online I check if the provider is regulated in my country DFL score– behaviour _2
I share information about my personal finances publicly online (e.g.,on social media) DFL score– behaviour _3

ASK if QDL1 = Yes

I would also like to know if these statements describe you or your situation or not: QDS3
Corresponds to FL Toolkit
question: QS3 with edits
MULTICODED. Create a single variable for each statement. Record responses as: 1='Yes,' 0='No,' -95='Don’t' understand the question, -97='Don’t'
know, -98 Not relevant, -99=Refused
I regularly change the passwords on websites that I use for online shopping and personal finances DFL score– _1
behaviour
I use different passwords for different financial and non-financial accounts (e.g., online banking, bank cards, e- _2
mail, social media, e-commerce accounts, etc.) DFL score– behaviour (addition compared to FL Toolkit)
I create strong passwords (e.g., alphanumeric, use of capitalisation, special characters etc.) DL score _3
I use a password manager DL score _4
I know who to contact (e.g., financial institution or authority) if I am victim of online fraud _5
24 

ASK if QDL1 = Yes

I am now going to read out some statements. I would like to know how much you agree or disagree with QDS4
each of these statements (as it relates to you) Corresponds to FL Toolkit
question: QS4 with edits
MULTICODED. Create a single variable for each statement. Record responses as: 1= Completely disagree, 2, 3, 4, 5= completely agree, -
97='Don’t' know, -98 Not relevant, or -99=Refused
I think that it is safe to shop online using public Wi-Fi networks (e.g., in cafés, airports, shopping malls) DFL score _1
– attitudes
It is important to pay attention to the security of a website before making a transaction online (e.g., https sites, _2
safety logo or certificate) DFL score – attitudes
I don’t think it is necessary to read terms and conditions when buying something online DFL score – attitudes _3
Digital tools facilitate the management of my personal finances _4
I trust the financial services provided by online financial services providers (e.g., online banks, digital payment _5
providers, such as <national examples>)
I think that all financial services providers operating online are trustworthy _5_alt
I believe that financial service providers should use a wide range of non-financial personal data, including from _6
social media, in decisions about granting credit
I am more likely to buy impulsively when I buy online than in person in a shop _7
It is more likely that I would read the small print of a contract if it is on paper than online _8
I am happy that my traditional financial services provider (bank) is digitalising existing traditional products and _9
services
I find it easier to know how much I spent when I pay by cash than when I pay online _10
I would consider saving with non-financial companies (such as e-commerce platforms, social networks, telephone _11
operators)
I would allow my bank to share my personal financial information with other companies, to receive personalised _12
information about my personal finances

OPTIONAL QUESTION
ASK if QDL1 = Yes
Overall, on a scale of 1 to 5 where 1 is very confident, and 5 is not at all confident, how confident are you .. QDS5
Record responses as: 1='not at all confident’, 2, 3, 4, 5='very confident’
Label: Issues
Making a digital payment using a mobile app _1
Making a digital payment using a computer _2
Recognising a financial scam or fraud via social media or email _3
Buying financial products completely online with a digital signature _4
Taking appropriate measures to protect your personal financial data online _5

OPTIONAL QUESTION
ASK if QDL1 = Yes
How would you rate your overall knowledge about digital financial matters compared with other adults in QDK1
<COUNTRY NAME>? For example, making financial transactions via mobile apps, signing digital contracts, Corresponds to FL Toolkit
recognising financial scams and frauds online, etc. question: QK1
Would you say it is
Record responses as: 1='very' low, 2, 3, 4='very' high
Label: Self-rated knowledge
a) Very high 1
b) Quite high 2
d) Quite low 3
e) Very low 4
Don’t know -97
Refused -99
  25

ASK if QDL1 = Yes

I would like to know whether you think the following statements are true or false QDK7
Corresponds to FL Toolkit
question: QK7
MULTICODED. Create a single variable for each statement. Record responses as: 1=’True’, 0='False,' -97='Don’t' know, -99=Refused
A digital financial contract requires signature of a paper contract to be considered valid DFL score –knowledge _1
The personal data that I share publicly online may be used to target me with personalised commercial or financial _2
offers DFL score–knowledge
Crypto-currencies (such as Bitcoin) have the same legal tender as banknotes and coins in my country DFL score– _3
knowledge – correct reply to be checked at national level
If I do not pay back a loan subscribed digitally, this affects my ability to enter in future digital contracts, but will not _4
affect my ability to obtain a loan that is not subscribed digitally DFL score– knowledge (addition compared to
FL Toolkit)
Buying a financial product at the bank’s branch or online entails the same level of legal protection DFL score– _5
knowledge (addition compared to FL Toolkit)
Financial authorities in my country deal with formal complaints related to crypto-currencies such as Bitcoin DFL _6
score– knowledge (addition compared to FL Toolkit – correct reply to be checked at national level)
The value of crypto-currencies such as Bitcoin can fluctuate dramatically, but it is always possible to recover the _7
initial amount of money invested DFL score– knowledge (addition compared to FL Toolkit)

Additional personal characteristics and background information

Note to agency: Reverse the order of the levels if more appropriate in your country –but make sure values
remain as shown (e.g., post-graduate should still be recorded as 1). For face-to-face interviews 1-6 can be
put onto a showcard and the respondent can give the corresponding number.
ASK if QDL1 = Yes
What is the highest level of education that you have completed? QD9
Equivalent to FL Toolkit
question: QD9
Label: Educational level
Post-graduate education or equivalent (e.g., master’s degree, PhD or advanced professional training) 1
University-level education (e.g., degree or higher-level vocational training) 2
Upper secondary school or high school 3
Lower secondary school or middle school (where relevant) 4
Primary school 5
No formal education 6
Refused -99
26 

Note to agency: the questions on work status may need to be further refined for the purpose of identifying
target groups, such as those on parental leave. Additional questions could be added to explore the type of
employer, size of enterprise, self-employed status, amount of time in business etc. as required at the
national level. For international comparisons, it will be beneficial to keep the suggested high-level
categories.
For face-to-face interviews, this can be put onto a showcard, and the respondent can give the
corresponding letter. Do not include ‘don’t know’ or ‘refused’ on the showcard.
And which of these best describes your current work situation? Please refer to your main working status QD10
Equivalent to FL Toolkit
question: QD10
Self-employed [work for yourself] 1
I own a business, alone or with someone else 2
In paid employment [work for someone else] 3
Apprentice 4
Looking after the home 5
Looking for work [unemployed] 6
Retired 7
Unable to work due to sickness or ill-health 8
Not working and not looking for work 9
Student 10
Other 11
Don’t know -97
Refused -99

OPTIONAL QUESTION
ASK if QDL1 = Yes
Were you born in < Name of country/region, as required>? Question: QD12
Label: Place of birth
Yes 1
No 0
Refused -99

Note to interviewer: please stress confidentiality and inform the respondent that the information is needed
to make sure that the sample is representative of the population.
Please explain that for the purpose of this survey, a household is composed of either a) a group of people
(adults and/or children) living in the same dwelling space who each acknowledge the authority of the same
person or couple as the head(s) of household or b) a lone individual. A young adult living at home should
be encouraged to discuss their own financial situation rather than that of their parents
Note to agency: X= 75% of median household income; Y=125% of median household income; currency
should be changed to local currency. Please make sure the median (not mean) monthly income for a
household is used – before or after tax, depending on which is prevalent in your country. If monthly incomes
are very uncommon, please choose a different time period and record this. Please provide information with
the dataset to describe the source and date of the median income data, and the amount. Please create a
table of household income before and after tax if necessary, in order to be able identify the correct bands
regardless of how the respondent chooses to answer. It may also be necessary to create a conversion
table of weekly or fortnightly income for the interviewer to use.
  27

ASK if QDL1 = Yes

And finally, which of these categories your household income usually falls into [Use as appropriate: QD13
before/after tax? Would you say it is… Equivalent to FL Toolkit
question: QD13
Label: Income band
a) Up to <currency> X a month 1
b) Between <currency> X and EUR Y a month; or 2
c) <currency> Y or more a month 3
Don’t know -97
Refused -99
28 

References
European Commission (2021), Survey on the use of ICT in households and by individuals, [18]
https://circabc.europa.eu/sd/a/c3ee2f7a-7cbe-454a-ae74-
09a633da7dc1/MQ_2021_HH_IND.pdf (accessed on 7 July 2022).

European Union/OECD (2022), “Financial competence framework for adults in the European [14]
Union”, https://www.oecd.org/finance/financial-competence-framework-for-adults-in-the-
European-Union.htm (accessed on 28 April 2022).

G20 (2016), G20 High-Level Principles for Digital Financial Inclusion | GPFI, [8]
https://www.gpfi.org/publications/g20-high-level-principles-digital-financial-inclusion
(accessed on 7 July 2022).

G20 GPFI (2022), Implementation Guide for the G20 High-Level Principles for Digital Financial [9]
Inclusion (PRINCIPLES 1-6), https://btca-production-
site.s3.amazonaws.com/document_files/23/document_files/Implementation_Guide_for_the_
G20_High-Level_Principles_for_Digital_Financial_Inclusion.pdf?1670864937 (accessed on
20 April 2023).

Kass-Hanna, J., A. Lyons and F. Liu (2022), “Building financial resilience through financial and [20]
digital literacy in South Asia and Sub-Saharan Africa”, Emerging Markets Review, Vol. 51,
p. 100846, https://doi.org/10.1016/J.EMEMAR.2021.100846.

Lyons, A. and J. Kass-Hanna (2021), “A Multidimensional Approach to Defining and Measuring [21]
Financial Literacy in the Digital Age”, SSRN Electronic Journal,
https://doi.org/10.2139/SSRN.3873386.

Morgan, P., B. Huang and L. Trinh (2019), The Need to Promote Digital Financial Literacy for the [19]
Digital Age, https://www.adb.org/sites/default/files/publication/503706/adbi-realizing-
education-all-digital-age.pdf#page=56 (accessed on 7 July 2022).

OECD (2023), DIGITAL FINANCIAL LITERACY IN PORTUGAL Relevance, Evidence and [13]
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  29

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Annex A. Overview of questions and scores
Overview of questions

Table A A.1. Summary of questions

Relationship with the
Question OECD/INFE 2022 Toolkit to
Information collected Additional information Creating the scores
number measure financial literacy
an inclusion
QD1 Gender Equivalent to Toolkit
question: QD1
QD3 Size of settlement Equivalent to Toolkit The size of the settlement can make
question: QD3 a difference to access to services
and have an impact on the access
and use of digital financial services.
QD7 Age Equivalent to Toolkit If countries want to create different
question: QD7 age categories, this question could
be useful
QD7_a Age Equivalent to Toolkit Categories should be kept the same
question: QD7_a for international comparisons
QDL1 Access to Internet Equivalent to Toolkit
question: QD14
QDL1_a Reasons for lack of access to Optional question
the internet
QDL2 Frequency of access to the
internet
QDL3 Frequency of use of different This question can be useful to
devices to access the internet understand online behaviour and
possibly to identify suitable delivery
channels for financial literacy
programmes
QDL6 Digital literacy This question captures behaviours Digital literacy (DL score):
that can be used to understand • For all questions: 1 point for respondents who put themselves at 3 or 4 on the scale [Often,
levels of digital literacy Very often]. 0 in all other cases.
QDL6_a Help needed when using IT Optional question. Can be asked
only to certain age brackets based
on answers to QD7_a
  31
Relationship with the
Question OECD/INFE 2022 Toolkit to
Information collected Additional information Creating the scores
number measure financial literacy
an inclusion
QDL7 Behaviours to protect personal This question can be useful to Digital literacy (DL score):
data understand levels of digital literacy • For questions _1 to _7: 1 point for [Yes]. 0 for [No].
through behaviours that can • For question _9: 1 point for [No]. 0 for [Yes].
contribute to protect personal data
QDP1 Digital financial product Corresponds to Toolkit Awareness is considered to be an Digital financial services access and use score (DFS score):
awareness question: QP1, with a important aspect of inclusion. Edits • For all questions included in QDP2: 1 point for [Yes]. 0 for [No].
modified list of products should be made to ensure that the
QDP2 Digital financial product holding Corresponds to Toolkit list of digital financial products
question: QP2, with a provides relevant data at the
modified list of products national level
QDP3 Digital financial product choice Corresponds to Toolkit
question: QP3, with a
modified list of products
QDP2_a Help needed when using the Optional question. Can be asked
DFS held only to certain age brackets based
on answers to QD7_a
QDP5 How the most recent digital Corresponds to Toolkit This question is intended to show Digital Financial Literacy– behaviour:
financial product choice was question: QP5 whether people are shopping around • One point for respondents that chose “I considered several options from different companies
made for digital financial products, and if before making my decision” or “I looked around but there were no other options to consider”,
they decided based on digital and 0 otherwise.
advertising.
QDP7 Sources of information that Corresponds to Toolkit This question collects information on
influenced the product choice question QP7 with edits what influenced the most recent
digital financial product choice It
includes both traditional sources of
information as well as digital ones.
QDC1 Crypto-assets holding Optional question. It offers
information on how crypto-assets
were obtained by the respondent
QDC2 Reasons for acquiring crypto- Optional question. It offers
assets information on why crypto-assets
were obtained by the respondent
QDP9 Information about using digital Equivalent to Toolkit This question focuses on actions Digital financial services access and use score (DFS score):
financial services question QP9 related to digital financial services • For items 1 to 10: 1 point for respondents who put themselves at 3 or 4 in the scale [often] or
that are carried more often [very often] 0 for the others.
QDP10 Benefits of using open banking This optional question enquires
about the perceived benefits of open
banking
32 
Relationship with the
Question OECD/INFE 2022 Toolkit to
Information collected Additional information Creating the scores
number measure financial literacy
an inclusion
QDP11 Reasons for not using open This optional question offers insights
banking on the possible factors ranging from
limited digital literacy to low
awareness, that hinder the take up of
open banking tools
QP10 Information about issues related Equivalent to Toolkit This question provides information
to financial product use question QP10 that could be used to inform financial
education and financial consumer
protection policy
QDS2 Various statements that are Corresponds to Toolkit Statements to capture behaviours Digital financial literacy – behaviour:
designed to indicate attitudes question QS2 that contribute to digital financial • I share the passwords and PINs of my bank account with my close friends: 1 point for
and behaviours literacy respondents who put themselves at 1 or 2 on the scale [never]. 0 in all other cases.
• Before buying a financial product online I check if the provider is regulated in my country: 1
point for respondents who put themselves at 4 or 5 on the scale [always]. 0 in all other cases.
• I share information about my personal finances publicly online (e.g., on social media): 1 point
for respondents who put themselves at 1 or 2 the scale [never]. 0 in all other cases.
QDS3 Various statements that are Corresponds to Toolkit Digital financial literacy – behaviour:
designed to indicate attitudes question QS3 • I regularly change the passwords on websites that I use for online shopping and personal
and behaviours finance: 1 point for [Yes]. 0 for [No].
• I use different passwords for different financial and non-financial accounts (e.g., online
banking, bank cards, e-mail, social media, e-commerce accounts, etc.): 1 point for [Yes]. 0 for
[No].
Digital literacy (DL score):
• I create strong passwords (e.g., alphanumeric, use of capitalisation, special characters etc.):
1 point for [Yes]. 0 for [No].
• I use a password manager: 1 point for [Yes]. 0 for [No].
QDS4 Various statements about Corresponds to Toolkit Statements 1 to 3 are included in the Digital financial literacy – attitudes:
attitudes related to digital question QS4 digital financial literacy score. • I think that it is safe to shop online using public Wi-Fi networks: 1 point for respondents who
financial services The other statements refer to put themselves at 1 or 2 on the scale [disagree]. 0 in all other cases.
attitudes and behaviours that are not • It is important to pay attention to the security of a website before making a transaction online:
part of the score. 1 point for respondents who put themselves at 4 or 5 on the scale [agree]. 0 in all other cases.
• I don’t think it is necessary to read terms and conditions when buying something online: 1
point for respondents who put themselves at 1 or 2 on the scale [disagree]. 0 in all other cases.
QDS5 Confidence in undertaking Optional question
various digital financial
behaviours
  33
Relationship with the
Question OECD/INFE 2022 Toolkit to
Information collected Additional information Creating the scores
number measure financial literacy
an inclusion
QDK1 Self-rated assessment of digital Corresponds to QK1 Optional question
financial knowledge
QDK7 Understanding of digital Corresponds to QK7 Digital financial literacy – knowledge:
contracts, personal data use and • Digital contracts: 1 for a correct response [0/False – this will be checked at national level in
crypto assets, and other digital participating countries]. 0 in all other cases.
financial knowledge questions • Personal data use: 1 for a correct response [1/True – this will be checked at national level in
participating countries]. 0 in all other cases.
• Crypto-currencies: 1 for a correct response [0/False – this will be checked at national level in
participating countries]. 0 in all other cases.
• Loan subscribed digitally: 1 for a correct response [0/False – this will be checked at national
level in participating countries]. 0 in all other cases.
• Level of protection DFS versus traditional products: 1 for a correct response [1/True – this will
be checked at national level in participating countries]. 0 in all other cases.
• Complain and redress about crypto-currencies: 1 for a correct response [1/True – this will be
checked at national level in participating countries]. 0 in all other cases.
• The value of crypto assets can fluctuate dramatically but it is possible to recover initial
investment: 1 point for [Yes]. 0 for [No].
QD9 Education level Equivalent to FL Toolkit
question: QD9
QD10 Employment status (main) Equivalent to FL Toolkit
question: QD10
QD12 Region Equivalent to FL Toolkit
question QD12
QD13 Income level Equivalent to FL Toolkit Countries need relevant household
question: QD13 statistics to create this variable
Creating the scores
This section discusses how the questions in this survey instrument can be used to measure levels of digital
financial literacy and related concepts. This section proposes how they can be combined to compute
scores.

Digital literacy (DL score)

The questionnaire collects information on behaviours that permit an understanding of the basic digital skills
of respondents, as they are relevant to managing personal finances online and digitally. This information
is used to calculate a Digital Literacy score. The DL score provides an indication of the level of digital
proficiency of surveyed individuals, encompassing both basic digital financial skills and how these can be
applied to the safe management of personal finances in a digital environment.
The digital literacy score is calculated taking into account:
• Behaviours that require varying degrees of digital literacy included in question QDL6 (from sending
emails to undertaking administrative tasks online)
• Behaviours related to basic safety procedures online and to the protection of personal data
included in question QDL7 and QDS3
It ranges between 0 and 19.

Digital financial services access and use (DFS score)

The questionnaire includes questions about choosing and using digital financial products that can be used
to collect information about levels of digital financial inclusion and calculate a digital financial services
access and use score (DFS score). This is calculated only for respondents who have access to the internet.
The DFS score offers an indication of the level of digital financial inclusion of surveyed individuals and
insights on the demand side of financial inclusion. Its purpose is to identify to what extent individuals
experienced the use of various digital financial products and services.
The digital financial services access and use score is calculated taking into account:
• Digital financial product holding (question QDP2)
• Digital financial product usage (question QDP9)
It may range between 0 and 25 based on the scoring options suggested in the questionnaire. As some
countries might add national options, the number of points might vary. The points will be rescaled to range
from 0 to 25 so that it is normalised for all.

Digital financial literacy (DFL score)

The digital financial literacy score is calculated according to the definition of digital financial literacy adopted
by the OECD/INE. It is calculated only for respondents who have access to the internet. It takes into
account:
• Knowledge: the knowledge component of the digital financial literacy score is computed as the
number of correct responses to the seven questions in QDK7. It ranges between 0 and 7.
• Behaviour: the behaviour component of the digital financial literacy score is computed as a count
of the number of “savvy” behaviours (one in QDP5, three in QDS2, two in QDS3). It ranges between
0 and 6.
• Attitudes: the attitudes component of the digital financial literacy score is computed as a count of
the number of “positive” attitudes elicited by three statements in QDS4. It ranges between 0 and 3.
The overall DFL score is obtained as the sum of the three previous components: knowledge, behaviour
and attitudes. It ranges between 0 and 16.
  35

Annex B. Digital financial products and services

The survey instrument aims to be applicable across a diverse range of economies with different levels of
financial market development, digitalisation, and different digital financial products and services (DFS)
available to consumers. For this reason, the questionnaire uses broad categories to define DFS.
The list of product types used in the national questionnaire should be specific to the country, and should
cover payment, savings, investments, credit and insurance products offered digitally as relevant. If
necessary, give examples. It is not mandatory to use each item of the list of DFS provided if these are not
available to consumers in the jurisdiction.
The table below offers a description of selected DFS included in the questionnaire to help institutions
undertaking the survey understand which locally available DFS fall within each category and find the best
national examples to provide.

Table A B.1. Description of the DFS mentioned in the questionnaire

Digital financial products or services Description
Mobile money account [not directly linked A transaction account held at a non-bank institution that can be used for peer-to-peer payments,
to a bank account] transfer of funds. Depending on the regulatory framework and the provider, it can also give access to
products such as short-term loans. Examples include M-Pesa, Tigo. Paycell. Orange Money.
Digital wallet /mobile wallet / mobile A mobile app, electronic device, website, software system, or database that allow individuals to make
payment payment transactions digitally by storing a consumer's debit or credit card and other payment data.
Examples of digital or mobile wallets include: ApplePay, Google Wallet, Samsung Pay, PayPal,
Venmo, AliPay.
Mortgage that can be acquired fully online A type of loan accessed to purchase or maintain a home or real estate that is offered digitally.
Other credit that can be acquired fully Credit offered digitally (mostly by digital-only providers) for which the entire contractual process is
online, excluding mortgages (e.g., online done online*, which involves amounts of money that are small relative to other forms of credit in the
credit, payday lending, consumer credit) market, mostly for relatively short periods of time (most commonly for durations of under 12 months),
and at a rate that is considered to be high compared with other credit products available to
consumers in their jurisdiction (OECD, 2019[21]).
Short-term online financing schemes that Credit arrangements acquired online that allow consumers to buy and receive goods and services
allow consumers to make online immediately but pay for that purchase over time.
purchases and pay for them at a future
date (Buy now pay later acquired online)
Insurance that can be acquired fully online A variety of products offered digitally (by both traditional and digital-only providers) for which the
entire contractual process is done online*, which allow end users to ensure assets or lives that they
wish to protect. It includes life insurance and non-life insurance (against risks such as accident,
sickness, fire and natural forces, other damage to property, motor vehicle liability, general liability,
miscellaneous financial loss and legal expenses).
Saving products that can be acquired fully A variety of products offered digitally (by both traditional and digital-only providers) for which the
online entire contractual process is done online*, which allow end users to store funds and earn interest.
Investment services that can be acquired A variety of services offered only digitally (by both traditional and digital-only providers) for which the
fully online, excluding pension products entire contractual process is done online*, which allow end users to put funds into investments other
than a savings account.
These include roboadvisers that automate much of the investment process, suggesting investments
based on information provided by the consumer.
Crowdfunding, crowd investing, or peer- Digital platforms open to the public in order to match or facilitate the matching of prospective
to-peer lending platform investors or lenders with businesses that seek funding.
Crypto-asset The term “Crypto-Asset” is intended to cover any digital representation of value that relies on a
cryptographically secured distributed ledger or a similar technology to validate and secure
transactions, where the ownership of, or right to, such value can be traded or transferred to other
individuals or Entities in a digital manner (OECD, 2022[22]).
36 

Cryptocurrency Certain kinds of cryptoassets can function as digital means of exchange, which are not backed by an
issuer. These types of assets are also referred to as “cryptocurrencies”, of which Bitcoin was the first
to be well known. Cryptocurrencies have been defined as “a digital representation of value that i) is
intended to constitute a peer-to-peer alternative to government-issued legal tender, ii) is used as a
general-purpose medium of exchange (independent of any central bank), iii) is secured by a
mechanism known as cryptography and (iv) can be converted into legal tender” (OECD, 2019[16]).
Stablecoin Crypto-assets created, or ’minted’, in exchange for fiat currency, and designed to maintain a stable
value relative to a national currency or other reference asset (OECD, 2022[22]). Examples include
Tether, USD Circle.
Non-fungible token Crypto-assets representing rights to collectibles, games, works of art, physical property or financial
documents that can be traded or transferred to other individuals or Entities in a digital manner
(OECD, 2022[22]).
* These include those for which local regulation requires a paper signature during the process.