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Mobile banking set to be most popular form of banking


Mobile banking is set to take over computer banking as the most popular way to bank, according to the British Bankers Association.

Research has found that customers throughout the UK are set to check their current account a record 895 million times on their mobiles in 2015, which will beat the 705 million predicted for computers, 427 million branch visits and 64 million telephone calls. This compares to 2010 when computer banking was most popular, as customers checked accounts 565 million times on their computer, 502 million times at a branch, and only 86 million times on mobile phones.

The analysis from the British Bankers Association also found that customers moved £2.9 billion a week using their mobile phones so far in 2015, compared with an average of £2 billion a week throughout the whole of 2014.

A report published in May has also found that cashless payments have overtaken the use of notes and coins for the first time ever. 52% of payments were made using electronic transactions, according to the Payments Council.

Anthony Browne, chief executive of the British Bankers Association said:
"Technology is changing our lives and banking is no different.

"The rapid take up of apps and mobile banking appears to be a real game changer for the British public."

The Campaign for Community Banking has claimed that mobile and internet banking is unattainable for a large number of customers and should not be used as an excuse to close branches.

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