With many people receiving money for Christmas and retailers now starting their online sales on 25 December, people have increasingly more reason to check their finances on the big day. Around 366,000 customers checked their account on 25 December 2014, with the majority (70%) logging on from their mobile device rather than from a laptop or computer. This compares to 240,000 in 2013 - highlighting an increase of 52%. In 2012, just 155,000 logged on, showing an increase of 136% when compared to last year.

However, despite the sharp rise, the tradition of sitting down for the Queen’s Speech or the alternative Christmas message remains, with just 3,600 people logging on at 3pm - a daytime low. Interestingly, despite the significant increased volume of customers logging in on Christmas Day, the number of people logged on at 3pm has remained broadly the same at around 3,000, showing that many more are logging off just in time for Her Majesty.

By comparison, New Year’s Eve last year was far busier than Christmas Day, with around 975,000 people using Nationwide’s Internet and mobile banks. This compares to 723,000 in 2013 - more than a third less (35%). This is likely down to people checking their dwindling bank accounts before seeing in the New Year. Just over 3,000 people logged on at midnight on New Year’s Eve - a time when most people were busy celebrating.

Combined logons on New Year’s Day this year were down to 788,000, as people slowly but steadily checked how much they had spent the night before. In 2013 the figure was 567,000 - 39 per cent less.

Phil Smith, Nationwide’s Head of Current Accounts, said: “Over the last few years many retailers have started their sales online on Christmas Day, so it’s perhaps no surprise that customers looking to take advantage of the bargains on offer are logging on to check their balances first. However, the tradition of sitting down with the family in time for The Queen seems to be going strong as the numbers logged in at 3pm drops to a daytime low.

“Once the Christmas and New Year festivities subside, it’s natural to start looking at just how much we’ve spent, hoping that there won’t be a lengthy financial hangover. We would always recommend keeping an eye on your money by regularly checking your balance.

“An effective way of doing this is through innovative apps like Nationwide’s Quick Balance (This link will open in a new window), which doesn’t require you to login. We would also remind people of the benefits of saving on a small yet regular basis. Our Impulse Saver (This link will open in a new window) lets customers lets customers save from their current account to savings account at the press of a button, so each time you save a bit of money on someone’s present, why not put the difference in your savings pot?”