UK consumers keen on online banking

A recent survey has indicated that the vast majority of consumers in the UK are keen on online banking, and find the whole process of banking online far easier, more convenient, and more accessible than having to visit a branch. Online banking has really taken off over recent years, with most major banks now offering online facilities and a number of banks and financial institutions offering subsidiary services that operate exclusively on an online basis.

The survey was carried out on behalf of HM Revenue & Customs by TNS, and was performed in September 2006. Just over one thousand adults were surveyed across the UK, and the results show that over eighty five percent of consumers found that Internet banking was more convenient, easier, and more easily accessible than having to go to a branch to deal with their banking and finances.

Despite the level of concern that is constantly being highlighted with regards to Internet scams and fraud when it comes to online banking, it seems that consumers in the UK are still happy to use online banking because of the convenience, speed, and ease compared to high street banking. And experts have already stated that the risk of becoming a victim of fraud is minimal providing consumers are careful and ensure that they do not give out account details via email and check that they website they are using is a secure one.

For UK consumers, having online banking facilities means being able to make transactions at any time of the day or night and from the privacy of their own home, being able to pay bills whenever they want to, being able to check their balance and other details, and avoiding the need to queue at the branch or spend ages on the phone trying to perform banking transactions.