Online Banking Trumps Social Networking
Writes Dan Drage dan.drage@consumerchoices.co.uk
As an internet pastime, banking beats bleating in the surfing stakes.
According to the latest research from online bank Cahoot (www.cahoot.com), Britain is turning into a nation of ‘money-surfing experts'.
3 billion hours were spent banking online by Britons last year, compared with 2.7 billion hours social networking time. In total, 38 million Brits manage their accounts online, either at home or at work.
71% of these financial surfers conceded their banking activities had increased over the last twelve months in the light of the credit crunch. On average, the online banker spends one and a half hours each week logged into their account.
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"3 billion hours were spent banking online by Britons last year, compared with 2.7 billion hours social networking time"
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Matthew Timms, Director at Cahoot, had the following to say:
“While you might be forgiven for thinking that the internet's biggest draw is social networking sites, nowadays it's actually online banking. Indeed, the credit crunch is making Britons far more conscious about keeping in control of their finances”
He continues:
“As a result we're flocking to internet banking, where we can instantly access and manage our finances at a time and location of our choice as well as pick up some of the best rates on the market.”
82% of regular online bankers say that internet banking makes them better at managing their finances.
Chris Eagle, Commercial Manager at Credit Choices, has some further advice:
“Banking online certainly helps you to keep a close eye on your finances; by transferring your utilities to online tariffs also, you can monitor them at close quarters and net yourself discounts”
He continues:
“Switching to an online energy tariff and paying by direct debit will earn you significant discounts and allow you to input your own meter readings, thus waving goodbye to the days of inaccurate estimated bills.”
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