The total number of telephone and online banking transactions has more than trebled in the past five years, according to the latest banking industry figures.
Research from UK payments association Apacs has revealed that the number of payments made via telephone or internet banking facilities now stands at 118.1 million.
By way of comparison, it stood at 36.7 million in 2000.
Meanwhile, the organisation has also pointed out that the total number of bills received by the average household has increased from 159 per year in 2000 to 166 in 2005.
Sandra Quinn, director of communications at Apacs, suggested that the gradual rise in the number of bills may be prompting some householders to switch to online banking facilities for matters of convenience.
"It's no surprise that many bill payers are finding more sophisticated payment methods that allow them to be more organised in their repayments - whether it is through online banking or by setting up a Direct Debit," she said.
Online banking options enable homeowners with an internet connection to arrange bill payments without having to leave the comfort of their own home.
Number of phone and internet banking transactions triples
Number of phone and internet banking transactions triples
Wed, 28 Feb 2007
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