Internet’s “flexibility and immediacy” appeals to online bankers

Accessing your bank account online is popular because it is instantaneous, says a spokesperson for the British Bankers’ Association (BBA).

The number of people banking online in the UK has risen by 174 per cent since last year according to research by payments association Apacs . The number of over 55s using the service rose by 350 per cent.

Apacs research also showed that plastic card fraud grew by 26 per cent during the first half of 2007 but online banking fraud was down by 67 per cent.

In regards to banking safely online Brian Capon, spokesperson for the BBA, said: “It’s very important that you have software in place, firewalls, virus protection and things like that.”

He went on to remind users to remember to log off after banking online and to clear the cache. Apacs show that phishing attacks increased by 42 per cent in the first half of 2007, so he also warned customers that banks will never request passwords or personal information via email.

Anyone thinking about online banking can check that their bank is registered with the Financial Services Authority. If so they are protected under the financial services compensation scheme.

© Adfero Ltd

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