Brits turning to one provider for all banking
5.08.2008
An increasing number of Britons are choosing just one financial provider for all their money requirements, a new report suggests.
Research conducted by Abbey reveals almost one in five adults has chosen to deal with just one provider for products such as personal loans and savings accounts.
It notes six million people use only one PIN or password.
However, the average person has not consolidated their financial dealings and in fact uses the services of three different providers, the bank states.
Steve Shore, Abbey's director of banking, says many Britons are using one provider to help them keep their finances simple.
However, he warns: " It's worth noting though, that those with one password for all their accounts should take care to ensure that this is as secure as possible, using a combination of letters and numbers wherever feasible."
Recent figures published by the British Bankers' Association showed that for every ten minutes of 2007, 40,000 people accessed their current accounts or savings accounts through the internet.
Research conducted by Abbey reveals almost one in five adults has chosen to deal with just one provider for products such as personal loans and savings accounts.
It notes six million people use only one PIN or password.
However, the average person has not consolidated their financial dealings and in fact uses the services of three different providers, the bank states.
Steve Shore, Abbey's director of banking, says many Britons are using one provider to help them keep their finances simple.
However, he warns: " It's worth noting though, that those with one password for all their accounts should take care to ensure that this is as secure as possible, using a combination of letters and numbers wherever feasible."
Recent figures published by the British Bankers' Association showed that for every ten minutes of 2007, 40,000 people accessed their current accounts or savings accounts through the internet.