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UK internet banking surpasses telephone banking.
(From Electronic Payments International)
The role that technology is playing in changing the banking habits of UK consumers has been outlined by UK payment industry association APACS, which says the number of UK customers using internet banking has surpassed those using telephone banking for the first time. The APACS figures for the first half of 2006 show that numbers of online banking users have almost doubled since 2002 and 16.9 million adults - over one- third of the adult population in the UK - now use online banking services. However, the number of people using telephone banking has fallen, to 15.4 million from 16 million in the same period last year.
According to APACS, two-thirds of current account holders now go online at least once a week, and more people are using their account online more regularly: one in five users go online daily, compared to one in 13 four years ago. Some 90 percent of internet banking users also shop online and 84 percent of them use their banking account online to make payments or transfers.
APACS said that the growth in the use of internet banking can be seen across all age groups. The 16- to 24-year-old age group has shown the greatest growth in the last four years, with the proportion of internet users in that age group using internet banking almost doubling from 13 percent in 2002 to 25 percent ...
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