»

MSE News: Four out of 10 people in the UK now use mobile banking apps, logging in 275 times a year

New Post Advanced Search

Coronavirus: Stay up to date with the latest from MSE


The MSE team is working extremely hard to keep the info we have about your travel rights, cancellation rights, sick pay (and more) up to date.
Stay updated with our guides: Coronavirus Help & Your Rights * Coronavirus Travel Rights
NEWSFLASH 27/03
MARTINS VIDEO FOR SELF-EMPLOYED * DELAY HOUSE MOVES * EUROSTAR UPDATE

MSE News: Four out of 10 people in the UK now use mobile banking apps, logging in 275 times a year

edited 30 November -1 at 12:00AM in Budgeting & Bank Accounts
31 replies 3.7K views
MSE_KarlMSE_Karl MSE Staff
175 posts
I've been Money Tipped! Newshound! Best Buy Bear
edited 30 November -1 at 12:00AM in Budgeting & Bank Accounts
Four out of 10 people in the UK regularly use mobile banking apps to access their account, while branch visits are in freefall, according to new figures which show the changing face of banking....
Read the full story:
'Four out of 10 people in the UK now use mobile banking apps, logging in 275 times a year'
OfficialStamp.gif
Click reply below to discuss. If you haven!!!8217;t already, join the forum to reply.
«134

Replies

  • spenderdavespenderdave Forumite
    524 posts
    Part of the Furniture 500 Posts
    ✭✭
    I find those figures hard to believe. I don't have a smartphone, use online banking on my desktop once or twice a month. Visit my bank around once a month to pay cheques in and there is always a queue.
  • GersGers Forumite
    8.1K posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    I've got apps for my banks on the mobile. The only use I put them to is to check balances sometimes, not even once a month. Useful but not essential for me.
  • zerogzerog Forumite
    2.5K posts
    ✭✭✭✭
    I only use apps when the financial institution offers something I want, but they don't offer a website. So: Revolut (exchange currencies at morningstar rate during UK working days), Tandem (0.5% cashback credit card and no forex fee) and Curve (treat £200 cash withdrawal per month as a purchase).

    If a website is offered then I prefer to use the website, even when on my phone (which I only use when on outdoors or in bed...)
  • roddydogsroddydogs Forumite
    6.8K posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    Only 4 out of ten? You should check you balance at least daily, never heard of online theft?
  • karlie88karlie88 Forumite
    9.1K posts
    Ninth Anniversary 1,000 Posts Name Dropper
    ✭✭✭✭
    I find those figures hard to believe. I don't have a smartphone, use online banking on my desktop once or twice a month. Visit my bank around once a month to pay cheques in and there is always a queue.

    I find the figures believable. I use a banking app once a day so I'm above average.

    I remember saving as a teenager about 20 years ago when apps were non-existent. To check a bank balance from home - start up the old desktop or laptop (which took 5 minutes), start up the dial-up modem (during which no one could make incoming/outgoing phone calls from the landline), log on to the bank's website, check balance etc. Either that or I had to walk into town to go in branch or get a balance from an ATM.

    Now, whip out the phone, check balance, transactions, payments, etc. - all done within seconds. I can deposit cheques with Halifax via my phone too. No wonder more branches are closing down.

    Times are changing and we need to move on.
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • edited 23 May 2018 at 9:08AM
    alanqalanq Forumite
    4.2K posts
    I'm a Volunteer Board Guide
    edited 23 May 2018 at 9:08AM
    roddydogs wrote: »
    Only 4 out of ten? You should check you balance at least daily, never heard of online theft?

    Four out of 10 adults. Not all adults use smartphones. I have read that uptake among those aged 55-65 is around 50% and among those 65+ much less. So while 40% of adults regularly use banking apps the percentage of adult smartphone users doing so will be higher.

    One doesn't need a banking app to check balances daily.

    I have a smartphone with an app but rarely use it as I prefer to use my desktop PC.
  • edited 23 May 2018 at 10:22AM
    aj23_2aj23_2 Forumite
    1.2K posts
    edited 23 May 2018 at 10:22AM
    Which means 6 in 10 people do not use mobile banking apps. I have friends who bank online, but refuse to use their phone for mobile banking apps incase they lost their phone etc. I know people who check their online banking everyday, which is ridiculous. I check once a week, after I've been in branches, to ensure transactions have gone through. I could quite easily not even do that.

    I'm 26 and haven't used a mobile banking app. I don't need to. I don't want to. I don't have to.

    Average branch visit now 104 a day. That's still more than 630 visits a week (Monday-Saturday). Which means some branches are considerably higher than that.

    People who say they haven't got time for branches etc (sorry, but no one is that busy) probably spend more time looking at their accounts online (not actually making transactions) than someone who goes in branch once a week.

    Whenever I go in bank branch, there are always people in there. Banks are willingly forcing people online to maintain already swelling profit margins and directly contributing to unemployment by closing branches.

    We've seen with Tesco Bank and TSB how insecure their security protections can be. If that doesn't put people off banking online and on mobile where you can be intercepted by bugs, viruses and scams then I don't know what would. It is for me. Technology is great when it works, but terrible when used against you. Don't get anything of this in branch.

    "Mobile and online banking systems are easy to use, safe and reliable. Many customers prefer to use this technology rather than making time to visit a bank branch." The exec of UK Finance. Clearly isn't safe or reliable as highlighted above.
  • aj23_2aj23_2 Forumite
    1.2K posts
    roddydogs wrote: »
    Only 4 out of ten? You should check you balance at least daily, never heard of online theft?

    Online theft if you bank online... Going on everyday, or several times a day, is overkill.
  • aj23_2aj23_2 Forumite
    1.2K posts
    I find those figures hard to believe. I don't have a smartphone, use online banking on my desktop once or twice a month. Visit my bank around once a month to pay cheques in and there is always a queue.

    Exactly my experience. Except I go to branches weekly. And I'm 26 (but do have a smartphone)
  • eskbankereskbanker Forumite
    12.9K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    aj23, what do you believe gives you the right to project your own preferences and prejudices onto others?

    As far as I'm concerned, each to their own, those who prefer online or app banking will carry on doing so (as frequently as they wish) and those who prefer branches are unlikely to change their minds, but for the latter group to portray themselves sanctimoniously as being on some sort of noble crusade to save jobs is laughable!
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support