Internet banking confidence increases
Published On 23 January 2007
It seems confidence in banking online is increasing with a new study revealing that 57 per cent of people use the internet to bank more than they did last year. Figures from Lloyds TSB show that over two thirds of people (68 per cent) conduct the majority of their banking online – a massive improvement on the 18 per cent who did so in 2005.
Only 11 per cent of respondents admitted they never used the internet to manage their finances.
Anita Hockin, Lloyds TSB spokesman, said: "The growth of internet banking is phenomenal and this year is set to break records. We now have over four million registered internet banking customers and January 2nd was the busiest internet banking day we've ever had with around ten customers logging on every second.
"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."
Interestingly, the survey revealed a distinct trend of silver surfers with a considerable 70 per cent of over 50s claiming internet banking was their preferred method of doing so.
