Online banking increasing in the UK

Internet Business News, Sept 8, 2003

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Payment services group BACS has completed a report showing that the number of consumers in the UK using online banking services has doubled in the last two years.

In 2000 there was just 3.5m people using some form of online banking service yet this figure rose to 7.8m by the end of 2002. Similarly, the number of people that are paying bills or transferring money over the Internet or telephone has also increased by 44% from 2001 to 7.2m in 2002. There was a total of 72m payments made online last year, of which approximately half were credit card payments.

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