Online banking lets people lead fuller lives, say Lloyds TSB

Wed, 31 May 2006

Online banking and other internet uses are saving users in Scotland just under a year of their lives, according to Lloyds TSB.

Research conducted by the bank suggests that doing everyday chores such as online banking on the web saves around 305 days over the course of a lifetime.

The extra time allows users to spend time in other areas of their lives, 64 per cent of those surveyed stated they spend it with families or partners.

Relaxing was also a popular choice for the spare time, 61 per cent doing this, 13 per cent said they would spend the time at work, although almost as many said they would prefer the extra hours in bed.

Chris Wardrope of Lloyds TSB Scotland life sciences and technology unit commented: "Many people assume that the internet has had a detrimental affect on family life and relationships but in fact the opposite is true in many situations.

"Doing everyday chores online can give people extra time on their hands and the fact that people are preferring to invest this time in their family or in their own personal health by exercising or relaxing is a very positive trend."

Online banking services now extend to applying for personal loans and credit cards, along with traditional banking uses.

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