8 March 2006
More than half of all Britons (59%) now do most of their banking online, new research for Alliance & Leicester has revealed.
Almost two thirds (61%) say that they now use online banking more than they did two years ago. More than 14 million people in the UK now bank online.
Balance checking was the most popular feature of online banking, with 30% saying that this was their most regular activity. Over the counter human contact remains the most popular choice for more complex enquiries, however.
Concerns about security prevented 29% of respondents to the poll from banking online.
Alliance & Leicester predicted that improved security, growing familiarity among many people and lifestyle reasons would continue to drive the growth of online banking.
"The pressures of modern life mean that internet banking is the best option for many UK banking customers," said Andy Muddimer of Alliance & Leicester.
"As ever, security is a very real issue and at Alliance & Leicester we are always looking at ways we can develop and increase security for our online banking customers. The FSA, too, has recognised this, with its Financial Risk Outlook 2005."
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