2 out of 3 Brits prefer the convenience of online banking

The research findings of one recently published survey found that the majority of Brits prefer the convenience of online banking over having to visit their local branch.

Research conducted for the Payments Council by TNS Research International and Opinium Research Research recently found that an increasing number of adults in the UK have abandoned conducting their banking in branch and instead taking care of their personal or business bank accounts from home over the internet.  The research found that the dwindling number of Brits still reliant on branches are primarily comprised of older individuals with levels of computer literacy lower than the younger generations.

Brits have been using online banking more than ever, according to the research.  25 per cent of internet users will log on to their banks daily, while 39 per cent say they use their banks online facilities weekly.

The amount of time Brits spend in queue at their local branch has dwindled as a result, with only 13 per cent making a trip every week. The round the clock availability of online banking means that Brits no longer need to fit their banking into a schedule or squeeze it into a stressful visit over their lunch break.

Online banking customers also report a high level of confidence in the security and usability of their bank’s websites, with nearly 80 per cent reporting feeling quite comfortable in managing their banking business over the internet.  There are several ways to spot whether your bank’s website is secure, according to financial experts, such as keeping your PINs and passwords safe, keeping your computers and web browsers safe through the use of anti-virus software, firewalls, and patches, checking bank statements on a regular basis for any discrepancies, and avoiding unsolicited emails.

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