7th August 2014

BBA comment on ONS internet access figures

Commenting on Office of National Statistics figures on internet access, BBA Chief Executive Anthony Browne said:

“It’s great that more people than ever are banking online. Banks are working hard to make online banking accessible to everyone and online and mobile banking mean it’s now easier than ever to stay on top of your finances.

“It’s particularly good to see an increase in online banking amongst the over 50s who are now more likely to bank on the internet than to use Facebook or book a holiday.

“Of course we recognise that internet banking isn’t for everyone, and that’s why across the country the bank branch network is being modernised to ensure that all customers get the best possible service.”

ENDS

For more information please contact the BBA press office on 020 7216 8989

ONS Figures: Internet Access – Households and Individuals 2014:

  • The proportion of adults aged 45 to 54 using the Internet for finding information about goods and services, increased from 74% in 2013 to 84% in 2014. Internet banking activity in the same age group rose from 50% to 62% over the same period.
  • In 2014, almost 7 in 10 adults (68%) had used devices such as mobile phones, portable computers (tablet or laptop) or other hand held devices to access the mobile Internet, away from home or work in the last 3 months.
  • The most popular device used to access the Internet ‘on the go’ was a mobile phone, with over half of all adults (58%) accessing the Internet this way. This has more than doubled since the 2010 estimate of 24%.
  • Almost 9 in 10 (87%) adults aged 16 to 24 used their mobile phone to access the Internet. However, this type of access is not solely limited to the early-adopting younger age groups, with six in 10 (62%) of those aged 45 to 54 accessing the mobile Internet on their mobile phone.
  • Increased usage of portable computers was seen across all age groups. The level of usage remains highest for those adults aged 16 to 24 with 59% of adults in this age group having used a portable computer in 2014, and 17% of those 65 and over.

Huge increase in mobile and online banking

The BBA has produced two reports on The Way We Bank Now, which examine the evolution of consumer banking. Findings include:

  • Internet and mobile banking is now used for transactions worth £6.4 billion a week – up from £5.8 billion last year.
  • Banking apps for mobiles and tablets have now been downloaded more than 14.7 million times – a 2.3 million rise since January at a rate of around 15,000 per day in 2014.
  • Internet banking services typically receive 7 million log-ins a day
  • Spend on contactless cards is expected to rise to £6.1 million a week this year – up from £3.2 million in 2013.
  • 2,274 bank branches have been refurbished in the past two years, underlining the commitment to high street outlets.

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