Online banking is becoming increasingly popular for Brits, according to a Lloyds TSB survey - because we don't like talking about our finances on a face-to-face basis.

Apparently 54 per cent of us prefer online banking, with 45 per cent citing added privacy as a specific reason. Some 43 per cent followed this up by saying that they would feel more at ease applying for a loan over the internet than by speaking to a human being.

Furthermore, 38 per cent would be more likely to apply for an overdraft or overdraft extension using the internet, while 32 per cent would prefer to apply for a credit card online.

Anita Hockin, head of internet at Lloyds TSB, said: "Money is one of the few subjects that many people still feel uncomfortable talking about, even with their bank. Internet banking has become increasingly popular in recent years, not just because it's convenient, but because it gives people privacy when it comes to managing their money.

"Despite all the benefits of online banking, it's important that people don't end up burying their heads in the sand. Sometimes it can be worth picking up the phone or calling into a branch to talk through more complex matters especially if you have any particular worries."

Despite the lure of anonymity, there were plenty of other reasons given for online banking's popularity - with convenience and its stress-free nature featuring prominently.




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