A quarter of Brits use their phones for banking

Adults are becoming increasingly comfortable using their mobile phones to keep in control of their finances, according to new research.

In an international poll conducted by Buzzcity, more than a quarter of respondents indicated that they do some form of mobile banking.

According to mobilemoneyrevolution.co.uk, balance enquiries, cash withdrawals and bank transfers were cited as the three most popular transactions.

Many of the UK’s leading banks also offer SMS alerts to their customers, for example if they are close to their overdraft limit.

In an interview with thedrum.com, Buzzcity founder Dr. KF Lai claimed that the results highlight how important that mobile phones are becoming in our everyday lives.

He said: “Our research is showing a seismic shift in global consumer confidence when it comes to mobile banking, as well as how and what people are using mobile payments for.

“Mobiles are intrinsically wedded to our daily lives and our research highlights that this now extends to how we bank, whether we are with or without a traditional bank account.”

Just 12 per cent of the survey’s respondents said they have used their mobile phone to pay for goods. Buzzcity surveyed 17,000 consumers across 22 countries in order to get these results.