While email is still the most common reason people use the internet, online banking is the fastest-growing use. According to a survey by the Office for National Statistics — looking at the UK population, not just internet users — 69 per cent said they banked online, almost double the proportion recorded 10 years ago (35 per cent).
The ONS began running its survey in 1998. In the case of internet usage, people were asked about their use in the January, February and April before the survey.
How are people doing their banking online?
Increasingly they are checking balances and making payments on the move, favouring phones and tablets over desktop and laptop computers. Research by consultancy CACI estimated that the number of bank customers using mobile apps will more than double between 2017 and 2022, while desktop or laptop banking activity will drop 63 per cent during the same period.
Banks continue to reduce their networks of branches, accelerating the shift online in rural or remote areas.
Online banking remains a relatively young development in the sector and public confidence in it has been knocked this year by some damaging incidents. In June, Visa’s payment system suffered an outage that meant many businesses and customers across Europe were temporarily unable to make or receive payments.
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