Online banking 'boom' revealed

Tue 27 Nov 2007 4pm

Many Britons feel that internet banking is giving them greater control over their money, new research has shown.

A study by Abbey found that 74 per cent of consumers who use online banking services believe that they now have a better understanding of their finances, while 38 per cent say that using internet banks has actually helped them to save money.

The survey also discovered that online services are particularly popular among nocturnal bankers, with 17 per cent of users claiming that they often delay going to bed in order to check their balance.

"For a long time we've observed a growing preference for the online channel, but for the first time we are seeing evidence that people really are enjoying the online banking experience and claiming that it makes them better with managing and saving money," said Reza Attar-Zadeh, head of savings at Abbey.

Last week, payments association Apacs urged consumers to use secure computers and exercise "common sense" when conducting transactions online.

All information and material on this website is for information only and should not be construed as advice designed
to meet the needs and the circumstances of a particular customer, please seek professional guidance as appropriate.

© Copyright 2006-2007, Trumpo Limited. All rights reserved. Trumpo and the "Trumpo" logo are registered trademarks of Trumpo Limited.