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Online banking ‘good for all ages’

September 14, 2007 by admin  
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Online banking is for savers of all ages, according to a finance expert.

Nick Staib, a spokesperson for HSBC, said that age was no barrier to internet banking and revealed that internet banking was outstripping sales.

UK payments association Apacs recently published figures that showed the number of adults using online banking had increased by 174 per cent from 6.2 million in 2001 to 17 million last year.

This figure included 350 per cent increase in use amongst the over 55s.

Mr Staib said that there was a steady growth in customers going online and added that while internet banking was readily adopted by young people, the older generations saw it as “natural” to bank online.

“There is no reason why people of any age can’t use the online banking, as long as they can send an email to somebody,” he said.

“If we didn’t [have internet access for banking] I don’t think we would be able to sell hardly any bank accounts at all.”

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