Online banking 'continuing to grow'

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The UK public's enthusiasm for managing their personal finances through online channels is continuing to grow, according to new research.

Abbey's study found that 74 per cent of consumers believe managing their accounts on the internet gives them a better understanding of their finances, while 38 per cent claimed to have saved money since banking on the web.

In addition, the report found that 39 per cent either visit their bank rarely or not at all, while only 34 per cent of people bank by post.

Commenting on the findings, Abbey's savings head, Reza Attar-Zadeh, said they showed that people "really are enjoying the online banking experience".

She added: "There is real satisfaction in watching savings grow and the internet enables us to do this with real ease."

Abbey is one of the UK's biggest mortgage and savings providers, with offices in London, Milton Keynes, Bradford, Glasgow and Belfast.

Other recent research by the company found that November was the most popular month for consumers to do their Christmas shopping.

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