Banking customers should go online to combat effects of postal strikes

15 October 2007 / by None
As the country prepares for the latest round of postal strike misery – an unofficial strike by some workers - advises bank account holders to take advantage of online banking to keep abreast of their finances as bills, invoices; bank and credit card statements go undelivered.

The losses from the recent post stoppages are so far estimated to be around £260 million pounds, with businesses being the worst affected. Estimates suggest that each postal strike costs UK SMEs somewhere in the region of £2.5 million through delayed post.

However, with online banking growing in popularity, there is now no reason to lose track of your monthly outgoings. Director of Fair Investment Company, James Caldwell explains:

"The upcoming strike will hit small firms the hardest as many of them rely on Royal Mail to do business and lose significant sums every time the post is held up. Those who rely on Government benefits including pensions, job seekers allowance or sick and disability payments are also bound to be concerned as well as those who need to pay their bills to avoid defaulting on payments.

“At, we have seen a significant increase in visitors to our online banking pages since the postal strikes.” Traffic to internet banking pages of the financial news and price comparison site has seen a 42% hike since the postal strikes were announced.

“Online banking has become increasingly popular as more and more people realise the advantages, particularly in the light of the national strikes,” continues Mr Caldwell. “Not only is it reliable but security has been significantly improved in recent years. It also makes complete sense – you can check all your accounts, pay your bills and transfer funds without leaving the house.”

To open an online bank account is quick and easy, particularly if you use an online comparison site which allows you to search different accounts at the click of a mouse. So while the uncertainty of the postal strikes continues, online banking customers can rest assured that their important payments are made without a hitch.

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© Fair Investment Company Ltd