Online banking gives "freedom"

www.moneynews.co.uk > Banking > Online banking gives "freedom"

Online banking gives "freedom"

Tue 24th Jul 2007

Online banking appeals to people due to the liberation it gives them from their branch, the British Banking Association (BBA) has claimed.

Ease of access and favourable interest rates were cited by the BBA as the reasons why many customers are switching to online banking.

"Some people like to pay their bills in the middle of the night and they certainly like the freedom that gives them," said Lesley McLeod, communications director at the association.

"You can do it from an internet cafe when you're sitting in Rome so people like that flexibility."

The director added that the banking method is predominantly popular with the under-50s and with those who travel a lot.

Recent figures released by Apacs revealed that 24 million adults used remote banking in 2006.

The BBA represents 200 banks in the UK, which operate a total of 130 million personal accounts.

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'