Online banking can benefit those looking for more flexibility, the British Bankers' Association (BBA) claims.
People who like to travel enjoy the "freedom" that online banking can provide, as customers do not have to be near a branch, states the organisation.
Lesley McLeod, the communications director at the British Bankers' Association, comments that it is mainly younger generations who use online banking: "It tends to be predominantly the under-50s that want to do it because they are more confident with the technology, but by no means all - there are lots of people over 50 who like them."
Ms McLeod states that uptake to online banking has been slow as many people still like to hold onto a banking book or piece of paper, although many consumers are now turning their existing bank accounts into online accounts.
In fact, online banking has developed a step further in the US with users having to physically prove they are holding their bank card when using the service.
Apacs, the UK payments association, states 15 million Brits now use online banking and predicts two in three adults will use the service by 2014.
Online banking can offer flexibility, BBA states
Online banking can offer flexibility, BBA states
Tue, 24 Jul 2007
Recommended links
More Brits using online banking, expert saysOver-60s online banking service reflects demand, claims financing analyst
Majority of over-45s use price comparison websites, virtual banking report indicates
Compare high street and online accounts
Find and compare savings accounts
| Banking news |
|---|
| Korean Bank to Withdraw from Lehman Brother Takeover Talks - Wed, 27 Aug 2008 |
| ICBC Becomes World's Most Profitable Bank - Fri, 22 Aug 2008 |
| Royal Bank of Scotland May Not Need to Sell Insurance Unit - Tue, 19 Aug 2008 |
| More News |
