Online banking customers get active

Despite the recent scams targeting customers of internet banks, UK surfers are becoming more confident with online banking, a report claims.

Over the last twelve months the number of online banking transactions has increased by 40 per cent, according to research company eBenchmarkers.

This indicates that customers are becoming more confident when it comes to how they use their online banking services, eBenchmarkers suggests.

Online banking customers are carrying out important transactions online such as paying bills and transferring funds.

Just over eight million banking customers log on to their online banking service at least quarterly, with 80 per cent of these classed as "hyperactive customers" - people who check their accounts on average 1.5 times a week, spending at least half an hour a month managing their finances online.

Stephen Adler, a director at eBenchmarkers, said: "What is clear from the findings of our latest benchmark study is that although growth in customer numbers is slowing down a little for most banks, growth in transactions, especially the all-important money moving transactions, is growing a lot."

eBenchmarkers estimates that 12 million people will be active online banking customers by October 2005.

Earlier this month, the banking industry announced it was working with UK cyber fighters to help combat the growing trend of fraudsters targeting online banking customers.

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