Monday, 10 October 2011

Online Banking More Popular Than Facebook


More people bank online (77 per cent) than log on to Facebook and Twitter and other social media (58 per cent), according to new research from Nationwide Building Society.



In fact, shopping (77 per cent) and online banking jointly topped Nationwide's research into what consumers do online.
The top reasons people go online are:

Banking (77 per cent)
Shopping (77 per cent)
Looking for holidays (65 per cent)
Social media (58 per cent)
Using auction sites such as eBay (53 per cent)
Job searching (37 per cent)
Downloading movies/music (36 per cent)

The research also showed some interesting comparison between the sexes. Stereotypes would normally have people believe women shop and men handle the finances, whilst this research shows that men are actually going online to bank only a marginal amount more, with a difference of three percentage points (79 per cent vs 76 per cent). Similarly, women only out-shop their male counterparts by four percentage points (79 per cent vs 75 per cent).

Richard Searle, Nationwide's head of channel integration, said: "Online banking has really taken off over the last few years and that is something we have been very aware of with the launch of our new and improved internet bank, but I have to say even we were surprised to see it beat social media (e.g. Facebook) as one of the top reasons the nation goes online.

"This research has been interesting as it has bucked a few trends showing women and men have very similar online habits - online banking, shopping, looking for holidays and social media. It has also shown the amount we now all use online banking as part of our day-to-day lives, with a quarter (25 per cent) of us going online 2-4 times a week and 12 per cent going online once a day, and this is only likely to grow as technology evolves and tablet computers are made more affordable."


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