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Online banking boosts direct debits
- May 23 2007, 13:02 PM
Online banking has celebrated ten years of use in the UK and in that time direct debits have become increasingly popular.
One in three Britons now uses the internet to carry out their banking and as a result the number of people who are going online to set up direct debits has increased substantially.
Direct debits have become increasingly popular with companies and as such more people are offered incentives to switch to direct debit payments, while the proliferation of online banking accounts means that setting up a direct debit is now easier than ever.
Therefore, the importance of bank account validation systems has become much more important in recent years because of the number of direct debits that are now being set up.
One of the main reasons for this growth in direct debits has been the online banking revolution, as Mik Hodsdon, divisional director at Nationwide, explained: "Internet banking has continued to be developed and enhanced over the last ten years and there is no doubt that it will attract more and more users."
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