Online banking provides freedom

The British Banking Association (BBA) has claimed that online banking is attractive to many due to the freedom it gives them from their local branch.

Favourable interest rates and ease of access were named as the reasons why many are switching to this method.

A spokesperson for the BBA said that some people like to pay their bills during the night and they like the freedom that online banking gives them. In addition, you can do it from an internet cafe when you’re on holiday so people like that flexibility.

BBA added that this method is largely popular with under-50’s and those who travel a lot. Statistics released by Apacs, the UK payments association, highlighted that in 2006, 24 million adults used remote banking.

According to many banks, their customers would rather use internet banking but Deloitte established that two-thirds of customers would not choose a bank where they did not have access to a branch. The Campaign for Community Banking Services has been urging people to visit their local branch to prevent it from closing.

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