Online banking offers flexibility

24 July 2007
Increased flexibility is one of the main benefits for consumers banking online, it has been suggested.

Having constant access to dealing with financial matters is key, particularly for people who travel frequently, commented Lesley McLeod, the communications director at the British Bankers' Association (BBA).

"Some people like to pay their bills in the middle of the night and they certainly like the freedom that gives them," she commented.

"You can do it from an internet cafe when you're sitting in Rome, so people like that flexibility."

This is particularly important for people who need to travel on a regular basis, as they have access to their banking matters without having to go into their branch, said Ms McLeod.

The BBA communications director added that it is often people younger than 50 who are more likely to choose this form of banking.

While there are over 50s who use online banking, the younger generation is likely to be "more confident with the technology".

According to the UK payments association Apacs, some 24 million people used remote banking to access their main current account last year.

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