More Brits banking online
January 23, 2007 by admin
Filed under News, News-Banking
Britain is becoming a nation of internet bankers, with new figures showing that we are becoming more comfortable with sorting out our finances online.
New research, carried out by Lloyds TSB, shows that over two thirds of us do the majority of our banking on the internet.
This is a huge leap when compared to 2005, when just 18 per cent of Britons said most of their banking was done online.
Despite the common perception that the internet is the plaything of the young and not well used by older people, Lloyds found that, when it comes to banking, the opposite is true.
A staggering 70 per cent of people over the age of 50 said that they prefer to do their banking online, while those aged between 18 and 25 are the least likely to manage their finances in this way.
“The growth of internet banking is phenomenal and this year is set to break records,” said Anita Hockin, head of internet at Lloyds.
“This popularity isn’t surprising given the convenience of banking online. It’s possible not only to check your balance, but also to pay bills, set up standing orders and direct debits and move money between accounts at the touch of a button.”
Lloyds’ research found that of the ten per cent of people that do not bank online, the main reason given was that they do not feel the need.
