Online banking can help people monitor their finances more effectively, according to one expert.
Michelle Meyer, a spokesperson for the Association of Payment Clearing Services (Apacs), explained than internet banking gives people an accurate snapshot of where their account stands.
"Having access to your finances whenever you want and seeing what is going in and coming out puts you in a good place," she states.
People who do use online banking should find it easier to stick to a budget, Ms Meyer added.
A recent study by Apacs found that the number of adults banking online has increased by 505 per cent in the past seven years.
The figure now stands at 21 million, compared to less than 3.5 million in 2000.
It also found that the amount of online banking fraud fell from £33.5 million in 2006 to £22.6 million last year.
Online banking good for budgets, expert states
Financial Services > e-banking > Banking news
Online banking good for budgets, expert states
Mon, 18 Aug 2008
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