23 October 2017
Find out more

Half of UK net users bank online

12 January 2010  |  5700 views  |  0 Hands on keyboard

More than 50% of UK adult Internet users - 22 million people - now bank online, according to figures from the Consumer Payments survey.

Since Internet banking hit the UK 12 years ago its popularity has risen rapidly, with 22 million adults using it on their main current account in the first half of 2009.

The most common tasks that people who bank online carry out on their main current account are checking balances and statements, used by 95% and 83% of users respectively.

Meanwhile, with the Web taking over, telephone banking has seen a decline, with 14.5 million users in 2009, down from a high of 16.1 million in 2005.

In response to remote banking's rise, the industry's Financial Fraud Action UK has updated its security advice guide for online and phone customers. The guide covers the benefits of remote banking, common sense steps that can be taken to minimise the risk of fraud, and some of the scams users should be aware of.

Katy Worobec, head, fraud control, Financial Fraud Action, says: "Online and phone banking has totally changed the way we manage our accounts, enabling us to keep a much closer eye on our finances outside of traditional banking hours. The chances of becoming a victim of online or phone banking fraud are low, but there are a number of common sense steps that people can follow to significantly minimise the chances of becoming a victim of fraud."

You can read the guide here:» Download the document now 242 kb (PDF File)

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Online banking set for increased IT spending in 2010

Online banking set for increased IT spending in 2010

22 December 2009  |  16329 views  |  3 comments
UK online banking losses continue to climb

UK online banking losses continue to climb

07 October 2009  |  10600 views  |  1 comments
Which? criticises online banking security

Which? criticises online banking security

27 August 2009  |  10693 views  |  2 comments
E-banking used by four in five online US households - survey

E-banking used by four in five online US households - survey

15 July 2009  |  6488 views  |  0 comments
Third of European Internet users bank online - comScore

Third of European Internet users bank online - comScore

16 April 2009  |  9094 views  |  0 comments
Canadians top for online banking

Canadians top for online banking

11 July 2008  |  8599 views  |  0 comments
Norwegians love Web banking

Norwegians love Web banking

22 February 2008  |  5852 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.com Register now

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19371 views comments | 28 tweets | 42 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15170 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10979 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
9026 views comments | 14 tweets | 28 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job