7 August 2006
A new study has suggested that an increasing number of Brits are choosing to bank online because it helps them to save blushes.
Research carried out by Lloyds TSB Internet Banking has found that 24% of Britons are using the internet as an alternative to speaking face-to-face or over the phone about their finances.
However, the overwhelming majority of respondents state that their main reason for banking online is because it can save them so much time, with 70% believing that access to internet banking is making their lives easier.
Another important reason for using the internet rather than speaking over the phone is the issue of privacy, with 45% stating that the privacy offered by internet banking makes it preferable to telephone banking or going into a branch.
Anita Hockin, head of Internet, Lloyds TSB, commented: "Money is one of the few subjects that many people still feel uncomfortable talking about, even with their bank."
However, she warned that people should not be "burying their heads in the sand", adding: "Sometimes it can be worth picking up the phone or calling into a branch to talk through more complex matters."
Switch to a better current account. uSwitch.com will carry out a free and impartial comparison of current accounts available.