Internet banking more popular than telephone

Money News

www.moneynews.co.uk > Banking > Internet banking more popular than telephone

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Internet banking more popular than telephone

The UK payments association has today revealed that for the first time in history, those using internet banking services outstripped those who kept track of their savings via phone.

Apacs said that the number of people who have turned to online banking has almost doubled in the last four years, with younger age groups making up the greatest proportion of new users.

Nearly half (48 per cent) of all internet users now bank online contrasting hugely to the falling number of people controlling cash flow over the phone.

This represents a significant growth in the number online bankers, rising from 7.5 million to 16.9 million since 2002.

For the first time since it was introduced, the amount of savers using telephone banking has dropped to 15.4 million from 16 million in the same period last year.

Sandra Quinn, director of communications at Apacs, said: "The older we get the more complex our finances tend become, as they include a range of regular payments, from paying our mortgage to our mobile phone bill.

"Our research shows that increasingly, if you are under 35, you are more than likely to be turning to the internet rather than the phone to manage your finances."

The huge increase in the number of people using internet banking has also led to some concerns about the risk of customers falling victim to fraud.

Related News : Banking

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet