UK: Online Banking Increasing in Popularity

Online banking is being used by 25 percent Britons on a daily basis for transactions, a new study has found.

The study, conducted by PayYouWay.org, has started a new initiative that educates people in online banking practices.

According to the study, 39 percent of Britons claim they access online banking at least once a week while 13 percent admitted that they visited their bank once a week, as reported by PC Advisor.

Online banking is mostly used by younger people as around 90 percent of them claim to be comfortable completing monetary transactions online. Only 25 percent of 55 year olds admitted to accessing online banking services.

Overall, 79 percent of the respondents claim they have confidence in online banking, indicating that people are shifting from traditional banking methods.

"Internet banking is fast, convenient and available 24 hours a day - so it's no surprise it's now the nation's favourite way to manage money," said Sandra Quinn, of PayYourWay.org.uk

Apart from delivering the results of the survey, the organisation said that it was important for people to stay safe when they log-in for online banking.