23 May 2006
Online banking customers are increasingly feeling in control of their finances.
According to a study carried out by Alliance and Leicester, 44% of Brits who perform all their banking online feel they have their finances in order.
Online banking has increased by 63% since 2003 and it is thought that the UK's online financial population is now in excess of 14 million.
Banking online allows customers greater access to their financial details. Of those with an online bank account, 44% use internet banking twice a week. This is in stark contrast to those still using face to face banking, of whom just 3% visit a branch twice a week.
"Logging on to your internet banking account gives you immediate, 24-hour access to the up to date status of your finances," said Helen Palmer, manager of Alliance and Leicester current accounts.
"As such, you can check your account at the click of a button, and manage your money more effectively. You can keep track of your in and out-goings which means you have a clearer idea of where you stand and so can easily avoid going into the red by mistake."
Checking bank balances was the most popular reason for online banking, with 96% saying they logged on to view their account details.
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