Online banking growing 3% a year

Online banking is still growing at a steady rate, rising 3% for each of the last four years. The Office for National Statistics estimates 29m adults banked online in the past three months, but one in seven people - 14% - still have safety concerns about banking online. A record 39 million people are now shopping online, meanwhile. The latest internet access report from the ONS estimate 76% people have made online purchases in the last year. Typically people spent between £100-£500 in the last three months, though 9% of people spent over £2,000. The main reasons for avoiding internet shopping are a preference for buying from a person, worries about security or privacy and not knowing how to shop online.

Find out more about fraud prevention fraud in our online guide.


Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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