People will find it easier to avoid debt than before - thanks to the advent of banking online.
Banking online is proving beneficial to many people struggling with their budgets in current economic conditions, new analysis from APACS has suggested.
According to the payments association, the easy-access nature of bank account websites - through which customers can check their balances at the click of a mouse - is preferable to the previous system of people either having to calculate their balances themselves, or through visiting branches or ATMs.
APACS research shows that online banking has increased in popularity by 505 percent over the last seven years, with 21 million people - or, one in two UK adults - using such services last year.
Michelle Meyer, a spokesperson for APACS, said: "I think as more people became familiar with shopping online, it was just a question of time before people would expect to carry out more of their administrative work online, so it was really a natural progression."
She added: "I think what [online banking] will do is give people an exact picture of where they stand which is always a good thing if you are trying to manage your budget. Having access to your finances whenever you want and seeing what is going in and coming out puts you in a good place."
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