We are fast approaching the tenth anniversary of internet banking in the UK and our financial habits have changed significantly in that time.
On May 27th 1997, Nationwide launched the country’s first online banking service and now handling our money over the web has become commonplace.
In fact, Nationwide says that 37 per cent of UK adults now do their banking online, with the majority using it due to its convenience.
A total of 53 per cent cite convenience, while 50 per cent say that it is easy to use and 25 per cent say the speed of internet banking is their main drive for using it.
Of those who already do manage their finances online, 66 per cent check their accounts at least once a week, nine per cent of men check their every day and six per cent of women do the same.
“This research shows that internet banking has become increasingly popular. Customers have the convenience of banking from the comfort of their own home, or indeed wherever they are in the world, together with many additional benefits such as discounts and paperless statements,” said Mik Hodsdon, divisional director at nationwide.
“Internet banking has continued to be developed and enhanced over the last ten years and there is no doubt that it will attract more and more users.”
The safety of doing your banking online is one issue which affects those who do not use internet banking.
Only 31 per cent of non-users said they thought it was safe, while 86 per cent of those who already have an online account are confident that it is secure.
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