<< Most Recent Articles

Young people "embracing mobile banking"

Younger generations are increasingly likely to use new technologies to manage their finances, it has been claimed.

According to new research from Alliance & Leicester, 54 per cent of 16 to 21-year-olds are willing to use a mobile phone to check their current account balance, with 38 per cent happy to access mini statements via their mobile.

The new service is thought to appeal particularly to young people because it offers secure access to personal financial information at any time of the day and also allows users to check on their money when abroad.

"Mobile phones have fast become a central tool in everyone's day-to-day lives and being able to use them for extended services like managing your finances will be extremely convenient for many people," said Helen Palmer, current accounts manager at Alliance & Leicester.

It is thought that the technology will eventually be enhanced to provide a greater range of services, such as bill payments and account transfers.

A recent survey by Which? found that many UK drivers are taking unnecessary risks by illegally using their mobile phones while behind the wheel, with 33 per cent of motorists having made a call while driving in the past 12 months.

See how much you could borrow when you apply for a loan with Lombard Direct .

12/06/2007 17:13:20

Most Recent Articles