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banking_Over-55s leave the high street for cyberspace
Independent on Sunday, The, Sep 2, 2007
The over-55s now represent the largest group of new customers switching to internet banks, research from UK payments body Apacs shows.
Some 3.6 million people in this age group logged on to run their financial affairs last year - up from just 800,000 in 2001. Fast broadband speeds and easy-to-use websites have helped boost take- up.
Apacs' five-year growth statistics show that, overall, 17 million adults in the UK banked online last year, compared with 6.2 million in 2001 - a 175 per cent rise in the total number of customers banking online.
Last December, for the first time, the number of people using online banks surpassed the number using telephone banking.
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