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Online banking `reflects pace of life`
14 December 2007
The growth of online banking as a method of debt management for consumers reflects the pace of life in the 21st century, an industry expert has claimed.
According to the British Bankers` Association (BBA), there has been a notable decline in the number of visits to bank branches over the last few years, as consumers do not have the time to spare.
As a result, consumers are often overlooking the personal advice offered by a bank manager when attempting to manage their debts, Lesley Mcleod, spokesperson for the BBA, said.
Ms Mcleod added: "Customers have a responsibility to keep track of their money themselves. It`s not lack of information about their financial position that is causing people to get into debt."
A survey by Lloyds TSB published earlier this month revealed that 50 per cent of those quizzed had not seen their bank manager for at least ten years.
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