Online banking booms big on Christmas Day, says Nationwide

Business banking news review: week ending 25 Dec 2015

The UK’s biggest building society says that online banking activity on Christmas Day shoots through the roof every year, just like clockwork.

It’s a safe bet that you’re likely to be dong something festive today, either gathered around the Christmas tree with friends and family, going out to the cinema, or even just spending a quiet day at home relaxing and enjoying some much-needed rest. Of course, there’s also something else you might be likely to do as well, according to Nationwide: engaging in mobile or online banking.

The mutual says, according to its own records at least, that Christmas Day last year saw something close to one out of every three of its customers logging in either through a computer or a mobile device. One third doesn’t sound that big, does it? Well think about this: that’s equivalent to 240,000 customers or so! Not only that but it’s 140 per cent more than 2012’s Christmas Day tally of around 100,000 customers.

Of course, some habits┬ádie hard. When it came time for the Queen’s Speech there were only around 4,000 customers still logged on at the time, showing that Brits still love to gather ’round to enjoy a wonderful Christmas Day tradition.

Honestly I’m not all that surprised by the amount of online banking that goes on Christmas Day. The run up to the festive season is often killer on current accounts and savings accounts, especially for very large families with the social responsibility for buying several presents or hosting relatives; even modest households can feel the squeeze when it comes to traveling or coping with Christmas expenses alongside their regular monthly bills. I’m sure that I won’t be the only one anxiously checking their balance sometime between Christmas Day and New Year’s Day and doing some hurried mental maths to ensure there’s enough petrol in the car to get back home or enough money left over to pay the utility bills once the New Year rolls around!

Still, it’s Christmas; might as well enjoy your friends and family today – or enjoy your solitude if you’ve finally scored a day away from all your normal social responsibilities. Try not to worry too much about what’s in your bank account, at least for around 24 hours. There’ll be plenty of time to worry later.

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