18th August 2014

Britain’s bank customers use internet banking 7 billion times in just one year

Internet banking surges by nearly 40% in just four years

Customers use these services almost 800,000 times an hour
Customers of Britain’s high street banks used internet banking nearly 7 billion times in 2013, according to industry statistics compiled by the BBA.

The figures, published in the BBA’s 2013 Abstract of Banking Statistics, provide further evidence of the seismic change in the way millions of customers manage their finances.

In all, there were 6.9 billion customer instructions using personal computers during 2013 – up from 5 billion in 2009. This number includes:

  • 316 million bill payments
  • 293 million inter account transfers
  • 152.6 million direct debit or standing order creations or amendments
  • 1.1 billion account queries
  • 10.5 million stop payment instructions – an eight-fold increase on the previous year.

Richard Woolhouse, the BBA’s Chief Economist, said:

“These figures provide more evidence of the ongoing revolution in the way millions of us spend, move and manage our money.

“There are clear productivity gains for our economy from internet banking. Many of us are spending less time queuing in branches and can avoid unnecessary fees by keeping a sharper eye on our balances. This is helping customers and providing wider economic benefits.

“This data features in the first part of our annual Abstract of Banking Statistics, which is a goldmine for anyone trying to understand the industry.”

The BBA has previously charted the rise of mobile banking, contactless cards and a range of other consumer friendly technology through its Way We Bank Now reports.

The new statistics on internet banking featured in the first part of the BBA’s 2013 Abstract of Banking Statistics are published alongside figures on household deposits, mortgages and consumer credit.

Two further parts of the abstract, one on the industry’s infrastructure and another on business  banking, will be published next month.

ENDS

Notes to Editors

1. For more information contact the BBA press office on 020 7216 8989. Journalists wanting to access the household section of the BBA’s Annual Abstract should email press@bba.org.uk from 9am on Monday 18 August.

2. The BBA’s Way We Bank Now work from earlier this year can be viewed here

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