Women prefer personal touch in banking, says National Savings

04 March 2005
Research from National Savings and Investments has revealed that most women prefer banking at their branch rather than by phone or on the internet.

According to the survey, 63 per cent of women prefer talking about their savings at their branch, compared to 43 per cent of men.

Men are more inclined to opt for the convenience of the internet, the research suggests, with three times as many men as women preferring online banking.

The overall average of those who prefer the branch method is 53 per cent - indicating that personal contact is still important to many savers, despite the ubiquity of the internet.

Indeed, the most popular accounts, according to the research, are those offering flexibility - a combination of branch, online and telephone access.

"These findings show that consumers are looking for the flexibility to manage their savings at a time and in a manner which is most convenient to them," said Dax Harkins, senior savings strategist at National Savings and Investments.

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The market share of branch-based, multi-access accounts rose from 38.1 per cent in 2000 to 59.7 per cent in 2004, and total deposits more than doubled from £149.5 billion to £306.3 billion.
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