First direct, the direct banking subsidiary of HSBC, says the average Briton spends nearly five times longer making tea than its customers spend managing their finances online.
The bank says its customers have reduced the time taken to manage finances online from the national average of 47 minutes a week to just nine minutes - or one minute and 17 seconds a day.
In comparison Brits spend an average nearly 42 minutes a week just making a cup of tea, based on information from the UK's Tea Council.
The bank's research shows that its time-strapped online customers are now saving more than a day - 33 hours - a year.
Richard Kimber, first direct's chief executive, says: "Short of combining some disparate activities - like sleeping at work or eating your children - the way to manufacture time is to shorten unnecessary time-wasting activities.
"Although, first direct has the highest satisfaction levels of any UK bank, customers don't feel the need for constant person-to-person contact. In essence, it's not so much about us being available around the clock, it’s more about removing any barriers between us and our customers, including the barrier of time."
Over half of first direct customers (58%) use online banking services. The bank says over a quarter (28%) of all financial sales are now made via the Web site, compared to two per cent in 2000.