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    • MSE Karl
    • By MSE Karl 22nd May 18, 5:14 PM
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    MSE Karl
    MSE News: Four out of 10 people in the UK now use mobile banking apps, logging in 275 times a year
    • #1
    • 22nd May 18, 5:14 PM
    MSE News: Four out of 10 people in the UK now use mobile banking apps, logging in 275 times a year 22nd May 18 at 5:14 PM
    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'

    Click reply below to discuss. If you haven!!!8217;t already, join the forum to reply.
Page 1
    • spenderdave
    • By spenderdave 23rd May 18, 6:07 AM
    • 473 Posts
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    spenderdave
    • #2
    • 23rd May 18, 6:07 AM
    • #2
    • 23rd May 18, 6:07 AM
    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.
    • Gers
    • By Gers 23rd May 18, 7:11 AM
    • 7,312 Posts
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    Gers
    • #3
    • 23rd May 18, 7:11 AM
    • #3
    • 23rd May 18, 7:11 AM
    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.
    • zerog
    • By zerog 23rd May 18, 7:56 AM
    • 2,416 Posts
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    zerog
    • #4
    • 23rd May 18, 7:56 AM
    • #4
    • 23rd May 18, 7:56 AM
    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...)
    • roddydogs
    • By roddydogs 23rd May 18, 8:05 AM
    • 6,211 Posts
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    roddydogs
    • #5
    • 23rd May 18, 8:05 AM
    • #5
    • 23rd May 18, 8:05 AM
    Only 4 out of ten? You should check you balance at least daily, never heard of online theft?
    • karlie88
    • By karlie88 23rd May 18, 8:10 AM
    • 8,793 Posts
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    karlie88
    • #6
    • 23rd May 18, 8:10 AM
    • #6
    • 23rd May 18, 8:10 AM
    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.
    Originally posted by spenderdave
    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.
    Official MSE canny forumite and HUKD VIP badge member
    • alanq
    • By alanq 23rd May 18, 9:04 AM
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    alanq
    • #7
    • 23rd May 18, 9:04 AM
    • #7
    • 23rd May 18, 9:04 AM
    Only 4 out of ten? You should check you balance at least daily, never heard of online theft?
    Originally posted by roddydogs
    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.
    Last edited by alanq; 23-05-2018 at 9:08 AM.
    • aj23
    • By aj23 23rd May 18, 10:06 AM
    • 1,112 Posts
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    aj23
    • #8
    • 23rd May 18, 10:06 AM
    • #8
    • 23rd May 18, 10:06 AM
    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.
    Last edited by aj23; 23-05-2018 at 10:22 AM.
    • aj23
    • By aj23 23rd May 18, 10:09 AM
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    aj23
    • #9
    • 23rd May 18, 10:09 AM
    • #9
    • 23rd May 18, 10:09 AM
    Only 4 out of ten? You should check you balance at least daily, never heard of online theft?
    Originally posted by roddydogs
    Online theft if you bank online... Going on everyday, or several times a day, is overkill.
    • aj23
    • By aj23 23rd May 18, 10:12 AM
    • 1,112 Posts
    • 351 Thanks
    aj23
    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.
    Originally posted by spenderdave
    Exactly my experience. Except I go to branches weekly. And I'm 26 (but do have a smartphone)
    • eskbanker
    • By eskbanker 23rd May 18, 10:25 AM
    • 10,142 Posts
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    eskbanker
    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!
    • Cash-Strapped.T32
    • By Cash-Strapped.T32 23rd May 18, 10:31 AM
    • 535 Posts
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    Cash-Strapped.T32
    It took me a few years of regular online banking before I used apps regularly, but now I do most things via the app, and I will check it a few times per week because to keep to my savings goals I like to run my current account as slim as possible and strip out as much as I can into savings.

    Then again, "most things" covers the routine transfers that make up the majority of my transactions, leaving the browser-based online banking for more unusual stuff like setting up new payees, etc.

    My Lisa provider have an app, but I can't use it on my phone (it cries and takes it's ball home because I use a custom ROM on my phone) so I'm restricted to using the desktop for my LISA.

    My S&S ISA provider don't have an app.
    One of my cash-savings banks don't have an app.

    So really if I'm being honest, I only use the Natwest app because that's where my current acct and a small amount of cash savings resides - for the majority of my accounts I still have to use desktop-based online banking - but then again the larger amount of actual transactions is done via the app because it's the everyday stuff that I do via app and by definition there's more of those transactions.


    *EDIT* Back in the days before you could do everything online I just never went into branch or went to find a cash machine - I had no idea of what money I had, and pretty much guessed how much month would be left come the end of my wages.

    For me, being able to do things online - at home, with time to think, to plan and to make decisions, with the wider internet available to research those decisions - instead of having to take a half hour bus to town, find a branch still open, then queue up for ages & try to plan out my life in the few minutes I'm stood at a bank window or at a cash machine on a street corner - is what made the difference between having control of my finances and being utterly at the mercy of events, so as far as I'm concerned it's an unadulterated good.
    Last edited by Cash-Strapped.T32; 23-05-2018 at 11:02 AM.
    • aj23
    • By aj23 23rd May 18, 1:42 PM
    • 1,112 Posts
    • 351 Thanks
    aj23
    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!
    Originally posted by eskbanker
    Each to their own, absolutely. I'm just stating facts. More people choosing to do online because they 'haven't got time' is having an effect on branches and thus people losing their jobs. You can't deny it doesn't impact unemployment, as there aren't other branches for them to go to.

    Doesn't just apply to banking. Look at Toys R Us, Mothercare, CarpetRight, Marks and Spencer. Age of online is killing off shops and thus all the people that work in the stores. People survived before online banking. Soon no one will leave their houses. You've said yourself about RBS closing 600 branches and the HBOS Group closing hundreds. Do you seriously think all those of employees found another job in their line of work. Of course not, because they have been closed.

    You seem to forget that other people don't mind putting their beliefs and and prejudices on me, telling me how I do things are 'wrong' or 'old fashioned,' so there is a lot of double standard here. I could say what do you believe gives you the right to say that I don't have a right to state simple facts and give my opinion. If you re-read what I wrote, I didn't actually tell anyone to stop how they do what they do and copy me instead....
    Last edited by aj23; 23-05-2018 at 1:46 PM. Reason: typo
    • aj23
    • By aj23 23rd May 18, 1:58 PM
    • 1,112 Posts
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    aj23
    Cheers for the I will carry on as I do. Times are changing. Mobile banking will only get more popular. More branches will close. I'm afraid you'll have to accept that.
    Originally posted by karlie88
    You can carry on. I didn't tell you not to. Just don't moan when your taxes get hiked in order to help provides support for the people made redundant according to yours and others choices.

    It's 2018 and 6 in 10 people still don't use mobile apps or bank online. Branches always have people in them at the counter. Times aren't changing as much as you think. Especially in like the TSB scandal. You wouldn't be loving it so much if it happened to you, of which it is far more likely for you.
    • karlie88
    • By karlie88 23rd May 18, 2:42 PM
    • 8,793 Posts
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    karlie88
    You can carry on. I didn't tell you not to. Just don't moan when your taxes get hiked in order to help provides support for the people made redundant according to yours and others choices.

    It's 2018 and 6 in 10 people still don't use mobile apps or bank online. Branches always have people in them at the counter. Times aren't changing as much as you think. Especially in like the TSB scandal. You wouldn't be loving it so much if it happened to you, of which it is far more likely for you.
    Originally posted by aj23
    It's actually about 3 in 10 people according to the MSE article. But we will ignore the fact that you didn't read the article properly.

    As you have a bee in your bonnet against those who do online banking and/or mobile banking, here are some advantages:

    - creates more jobs in the banks' IT departments and 3rd party IT security companies
    - more convenient, you can access accounts 24/7, 365 days a year and do many functions
    - saves the customer money, no need to pay for fuel, parking, bus/train tickets to visit a branch.
    - saves the customer time. 30 seconds to check a mobile banking app vs. 5+ minutes to visit a branch, queue up etc.

    Anyhow, good luck on your crusade against the online/mobile banking revolution.
    Official MSE canny forumite and HUKD VIP badge member
    • aj23
    • By aj23 23rd May 18, 2:49 PM
    • 1,112 Posts
    • 351 Thanks
    aj23
    It's actually about 3 in 10 people according to the MSE article. But we will ignore the fact that you didn't read the article properly.

    As you have a bee in your bonnet against those who do online banking and/or mobile banking, here are some advantages:

    - creates more jobs in the banks' IT departments and 3rd party IT security companies
    - more convenient, you can access accounts 24/7, 365 days a year and do many functions
    - saves the customer money, no need to pay for fuel, parking, bus/train tickets to visit a branch.
    - saves the customer time. 30 seconds to check a mobile banking app vs. 5+ minutes to visit a branch, queue up etc.

    Anyhow, good luck on your crusade against the online/mobile banking revolution.
    Originally posted by karlie88
    The tagline says 4 in 10 do, so it's not difficult to work out that 6 in 10 do not.

    If you net off the job losses against the job creation in different areas, then the difference is negligible. Your theory assumes that anyone made redundant finds another job in the same role or similar, which ins't the case.

    Who needs 24/7 access 365 days a year. Do you really make that many transactions that you aren't sure are trusted to go through safely online that you need to check that often? I survive without using it perfectly well. I don't need to log on every few hours to check that nothing has changed.

    I don't drive into town, thus don't pay to park (even though you can park for free in lots of places). You're trying to invent scenarios which for a lot don't exist. If you want to be a hermit in your house that's your prerogative. Others like to actually get out of their four walls and be socially interactive.

    I don't go to a branch just to check a balance. Again, you're trying to make it sound more laborious than it even is. Sounds like you're on a crusade.
    • karlie88
    • By karlie88 23rd May 18, 3:17 PM
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    karlie88
    The tagline says 4 in 10 do, so it's not difficult to work out that 6 in 10 do not.

    If you net off the job losses against the job creation in different areas, then the difference is negligible. Your theory assumes that anyone made redundant finds another job in the same role or similar, which ins't the case.

    Who needs 24/7 access 365 days a year. Do you really make that many transactions that you aren't sure are trusted to go through safely online that you need to check that often? I survive without using it perfectly well. I don't need to log on every few hours to check that nothing has changed.

    I don't drive into town, thus don't pay to park (even though you can park for free in lots of places). You're trying to invent scenarios which for a lot don't exist. If you want to be a hermit in your house that's your prerogative. Others like to actually get out of their four walls and be socially interactive.

    I don't go to a branch just to check a balance. Again, you're trying to make it sound more laborious than it even is. Sounds like you're on a crusade.
    Originally posted by aj23


    Keep 'em coming.
    Official MSE canny forumite and HUKD VIP badge member
    • eskbanker
    • By eskbanker 23rd May 18, 3:49 PM
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    eskbanker
    Each to their own, absolutely. I'm just stating facts.
    Originally posted by aj23
    No you're not, you've gone some way beyond that by describing people monitoring accounts daily as 'ridiculous' and 'pathetic'.

    More people choosing to do online because they 'haven't got time' is having an effect on branches and thus people losing their jobs. You can't deny it doesn't impact unemployment, as there aren't other branches for them to go to.

    Doesn't just apply to banking. Look at Toys R Us, Mothercare, CarpetRight, Marks and Spencer. Age of online is killing off shops and thus all the people that work in the stores. People survived before online banking. Soon no one will leave their houses. You've said yourself about RBS closing 600 branches and the HBOS Group closing hundreds. Do you seriously think all those of employees found another job in their line of work. Of course not, because they have been closed.
    Originally posted by aj23
    Nobody's denying that branch staff will be losing jobs when branches close, but in order for the banks to provide the alternative channels there will be plenty of additional employment in call centres, web programming, server hosting, upgrade testing (lol), etc, etc.

    But fundamentally it's a facile argument to accuse online/app banking users of causing unemployment as you could say the same about any form of human progress:

    Buying food from a supermarket? How dare you close down the high street greengrocer and fishmonger?

    Watching TV? Just think of all those unemployed cinema projectionists and usherettes.

    Driving a car? What about all those blacksmiths without horses to hoove anymore?

    Self-serve petrol pumps, well I'm sure you get the picture by now....

    You seem to forget that other people don't mind putting their beliefs and and prejudices on me, telling me how I do things are 'wrong' or 'old fashioned,' so there is a lot of double standard here.
    Originally posted by aj23
    Who called you 'wrong' for using bank branches? 'Old-fashioned' maybe, in the factual sense that it used to be the only way possible and now there are numerous alternatives that many find more convenient, but hardly in the same league as telling others to 'get a life'.

    I could say what do you believe gives you the right to say that I don't have a right to state simple facts and give my opinion. If you re-read what I wrote, I didn't actually tell anyone to stop how they do what they do and copy me instead....
    Originally posted by aj23
    I didn't say you told anyone to stop, but as above was simply highlighting that you seem to consider it appropriate to insult those who choose not to adopt your King Canute approach....
    • aj23
    • By aj23 23rd May 18, 3:58 PM
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    • 351 Thanks
    aj23


    Keep 'em coming.
    Originally posted by karlie88
    You can't even answer what I said ha
    • AirlieBird
    • By AirlieBird 23rd May 18, 4:07 PM
    • 1,039 Posts
    • 851 Thanks
    AirlieBird
    It's 2018 and 6 in 10 people still don't use mobile apps or bank online.
    Originally posted by aj23
    The report states "UK Finance research shows that 71 per cent of adults in the UK used online banking in 2017, representing over 38 million people, a figure which is still growing.". So how does 71% of adults equate to 6 in 10 people not using online banking?
    Did you really mean to put loose?
    Lose: no longer possess, not to retain, unable to find
    Loose: not firmly or tightly fixed in place
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