Online banking popularity soars

Online banking is preferred by consumers with three quarters developing a better understanding of their finances through the channel, according to research from Abbey.

Online banking is preferred by consumers with three quarters developing a better understanding of their finances through the channel, according to research from Abbey.

Over half of online bankers are logging on at least every other day, while 74% said watching their money online gives them a better understanding of their finances. Thirty eight per cent said they have started to save more money since using online banking.

With 39% of people rarely or never visiting their bank branch and telephone banking even less popular the importance of online banking is clear.

"For a long time we have 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.

The survey even found that 17% of people claimed to delay bedtime to check finances online.




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