Almost six out of ten people aged 45 years old or over use price comparison websites to improve their financing situation, according to a new virtual banking study.
Research from financial services provider Birmingham Midshires for its Life 2 report has revealed that 59 per cent of over-45s regularly use these sites, which compare banking offers to identify the cheapest deal.
In particular, it appears that people in the north-east tend to use price comparison websites more frequently than the national average, while banking customers based in Northern Ireland tend to visit them less than anywhere else.
The news may be of interest to banking institutions across the UK, since many now offer online banking options for current accounts and savings accounts to improve accessibility.
Jason Robinson, director of savings operations at Birmingham Midshires, commented: "As an online financial services provider, Birmingham Midshires has long seen an increasing number of mums and dads managing their finances online.
"The findings show that this age group are far removed from the computer illiterate and technophobe stereotype."
Typically, price comparison websites are free to use - with the site's owners aiming to earn revenue from sponsored ads and pay-per-click links.
Majority of over-45s use price comparison websites, virtual banking report indicates
Financial Services > e-banking > Banking news
Majority of over-45s use price comparison websites, virtual banking report indicates
Fri, 09 Feb 2007
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