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11th October 2011

More Brits use online banking than use Facebook or Tweet

Research commissioned by the Nationwide Building Society has found that more people use the internet for online banking than use it for social media such as Facebook or Twitter. The research found 77% of internet users used the internet for online banking and a similar percentage for shopping whilst only 58% used the internet for social media. Other activities included eBay was used by 52% and downloading music or movies by 36%. Nationwide admit to being surprised by the findings themselves.


Relatively little difference was found between the sexes with male use of online banking at 79% vs 76% for women whilst for shopping online the figures were 75% for men versus 79% for women. 25% use online banking 2-4 times a week and 12% once a day, and this is only likely to grow as technology evolves and tablet computers are made more affordable.


The research was commissioned to coincide with Nationwide's latest improved banking platform. The major changes in the platform reported are:

- New calendar view of transactions; which means members can see more easily money coming in and going out

- Easy to understand graphs; which compare income against spending and track account balances

- Clear and simple statement view

- Improved sorting and filtering of statements

- Quick and easy process for setting up payments and step by step guide


The research above was based on a sample of 1,500 respondents and was carried out by Opinion Matters between 31st August and 14th September.