Internet banking confidence increases

Britons are growing ever more confident in their use of internet banking sites, Lloyds TSB finds.

New figures show that eight internet users in ten now say they are confident using online banking services.

"When we first launched our online service, many people thought that it was something only for the hi-tech generation but we now have over 1.8 million regular users and we've seen a 60 per cent increase in the number of transactions undertaken by customers online," Matthew Timms, internet and ATM director Lloyds TSB.

Men are more confident about using internet banking sites than women, with 84 per cent of British males saying they are either very confident or fairly confident about using online services.

While women display less confidence, more than three out of four (76 per cent) are still confident.

Predictably, over 55s are the group that is least confident about internet banking, but across the board confidence is rising fast.

One person in five says their confidence in the safety of online banking has improved significantly over the last few years while almost half (48 per cent) say their confidence has improved slightly.

Trust in managing finances online has grown as more people learn the importance of keeping passwords and personal information safe, Lloyds TSB reports.

"Even though people might be worried about things like phishing scams, it's great that so many internet users feel safe and secure banking online and we're keen to keep it this way," said Mr Timms.

Lloyds TSB has produced a website for those with concerns or questions about the security of internet banking. Its Security Learning Centre gives information and tips about various e-mail scams and ways of protecting computers from hackers.