29 July 2008
Increasing numbers of current account customers are now banking online, according to a new report from the UK payments association Apacs. Some 21 million people used online banking last year, up more than 500% on the 3.5 million that were taking advantage of it in 2000, Apacs data shows. Sandra Quinn, Director of Communications at Apacs, said: "Online banking has changed the way we access our bank accounts, and is now second nature to many of us." And she said that in the future Apacs expects more current account customers to be making payments and handling bills online, rather than simply checking their balances. Figures seen by Apacs reveal that at the same time as the number of online banking users has risen, online banking fraud has been falling. The last 12 months have seen a 33% drop in losses incurred through online banking fraud, the association confirmed. But Ms Quinn urges current account customers to remain alert to online phishing scams and to use up to date anti-virus and software and spyware. In other current account news, the Office of Fair Trading has revealed that banks make £2.6 billion in unauthorised overdraft fees and £4.1 billion from interest on customer deposits.
© 2008 Adfero Ltd
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