Brits log on to bank

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More than half of all Britons do there banking online, according to new research.

Alliance & Leicester has found that 59 per cent of British people do most of their banking online and 29 per cent log on to bank once or twice a week.

Andy Muddimer, head of internet banking at Alliance & Leicester, said: "The pressures of modern life mean that internet banking is the best option for many UK banking customers.

"As we see the internet become increasingly important in other aspects of our daily lives, from reading the news, booking a holiday or simply making a purchase we would otherwise not have the time to do, then we can expect internet banking to become even more popular as the key way of managing our finances."

Almost three quarters of people who use internet banking said they found logging on to do their banking more convenient than using a branch.

The main reason for using the web for banking was to check balances, the reason why 96 per cent logged on, followed by making payments and transferring money.

However, the era of the branch has not come to an end as a quarter of people visit their bank at least once a month and one in ten people go to the bank weekly.

Furthermore, for complex advice people still prefer face-to-face guidance and a fifth of people said they prefer doing their banking with a person.


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