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Online banking `more popular than ever before`

30 January 2008

More people than ever before are using online banking, new research has found.

According to a study by Alliance & Leicester, 2007 saw a 70 per cent increase in the number of people using its online banking facilities, to bring the total to more than 1.9 million customers.

While businesses have used online banking for a number of years, many personal finance customers are now switching to online banking to stay on top of their finances and manage their debts.

Graham Long, head of payment services at Alliance & Leicester, said: "The growth we have seen over the last few years clearly indicates that the internet is fast becoming the preferred bill payment channel for many."

According to Credit Plus, the average UK personal debt at the end of November was £8,956.

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