24 June 2008
British consumers are beginning to become experts in the field of current accounts, according to new research revealed by Cahoot. And banking online is growing in popularity, it said, with 3 billion hours taken up doing this by consumers, greater than social networking. Director at Cahoot Matthew Timms noted that the press may focus on social networking but online banking is also a vital pastime. "While you might be forgiven for thinking that the internet's biggest draw is social networking sites, nowadays it's actually online banking. Indeed, the credit crunch is making Britons far more conscious about keeping in control of their finances," he commented. He added that improved rates can be gleaned over the internet and this matters more at a time when finances are becoming more stretched thanks to the credit crunch. Last week, a fresh student current account was released by NatWest as it looked to boost the options available to university-goers.
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