BANK ACCOUNTS, CREDIT CARDS
Online banking makes Brits more financially savvy
The relatively recent implementation of online banking services by most banks is proving to be very popular amongst the majority of users. New research reveals that six out of ten people are now more aware of their finances as a result of using this service.
Online banking is playing an educational, as well as an informative, role. Brits have become more confident in managing their money matters, as revealed by a new Nationwide Building Society study.
According to the figures, 58% of people are more aware of their personal finances now as a direct result of online banking and 33% are also more aware of their overall household’s financial situation because of it.
Not only are Brits more aware, but they are also becoming more knowledgeable. Nearly 23% of respondents said they were more aware of different financial products such as ISAs, credit cards, bank accounts and mortgages as a direct result of online banking.
Read more on online banking: Online banking outranks Facebook in the world wide web
Benefits of online banking
82% of people prefer online banking due to the convenience and 80% due to the flexibility it offers. 46% choose it mainly to avoid the long bank queues, while discretion is primary reason for 30% of respondents.
Furthermore, the survey also reveals a real diversity about the British population’s preferred time to check their finances online. Nearly a third (30%) of people check their account at home during the early evening and 26% do so in the late evening. A further 29% of people choose to log on during the mid morning, and only 13% use their lunchtime to manage their finances online.
Banks with an online banking facility
Recently, many banks have launched new systems of online and mobile banking, adapting their services to the latest technology in order to better meet their customer needs.
Some of these innovations include Nationwide online banking, Santander SMS alerts, Lloyds TBS mobile banking, Visa Europe mobile payment services, and BlackBerry banking for RBS and NatWest customers.
Tags: BANK ACCOUNTS, banking internet, CREDIT CARDS, online banking