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Online banking is not leading to the death of branches

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by Kay Mitchell

Halifax has declared that the increase in popularity of online and telephone banking is not replacing the traditional branch.

A spokesperson for the Halifax said that many predicted internet banking would replace branches but while online banking increases, the bank is opening another 150 branches.

Halifax added that online and telephone banking is growing but there are many people that want to deal with a person in their local branch. One hasn’t replaced the other, they have both grown.

The British Bankers’ Association established that 28,177 people in the UK were registered to bank online in 2006 – compared to 24,307 in 2005.

Recently, the Campaign for Community Banking Services was urging people to visit their local branch to prevent it from closing as it was anticipated that 850 communities in the UK have experienced the closure of their local bank branch.

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News posted: August 16, 2007

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