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Mobile phone banking users 'are in control of their finances'
(16/09/2010 15:32:04)

Mobile phone users may be keen to use mobile banking facilities to keep up with their finances.

According to Barclays, only 17 per cent of people who use mobile banking do not always know what is going in and out of their account, compared with 83 per cent of those who do not use the service.

The financial institution said this is because people who use their mobile phone to manage their finances tend to check their balance far more regularly.

Sean Gilchrist, digital banking director at Barclays, commented: "It's really encouraging to see the positive impact it is having on people."

He praised mobile banking for allowing people to stay in control of their finances in a "quick, easy and convenient" way.

Mr Gilchrist added that while mobile phone banking is still relatively new, its popularity is going up at a "phenomenal rate".

This comes after Barclays revealed that 48 per cent of small businesses in the UK are now making use of smartphones, while an additional nine per cent plan to do so before the end of the year.

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