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'More expats banking online'

Wed 2 Jan 2008 2pm

A growing number of expatriates are using internet banking services to manage their money, new research has shown.

The survey from Alliance & Leicester International (ALIL) shows that 92 per cent of expats now bank online, with 72 per cent looking for an account with internet facilities when selecting their bank.

According to the offshore savings bank, the ability to access money at any time and anywhere was the main reason for choosing an online account among 41 per cent of expats, while 26 per cent said that they did so to take advantage of better rates.

Managing director of ALIL Simon Hull commented: "As well as offering speedy transfers and an up-to-date snapshot of your finances, the offshore banking and savings market is quickly developing many of the online facilities already available from its onshore counterparts."

He added: "24-hour access to money is a necessity for most expats."

A previous survey by ALIL reported that 47 per cent of UK expats check their online bank account on a weekly basis.


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