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‘Increase in online banking popularity’

September 7, 2006 at 1:09 am

Online banking is gaining in popularity in both the US and the UK, although visiting a branch is still the preferred option for many, the latest research suggests.

According to a survey carried out by UK-based Lloyds TSB, over half (54 per cent) of British banking customers prefer banking online to visiting a branch, with the desire for privacy and discretion concerning banking issues cited as the most important reason.

In the US, however, the picture is slightly different, with research from the American Bankers Association showing that only 26 per cent of customers banked online as their first choice, Associated Press reports……

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