Internet banking to become faster
Internet-friendly Brits will welcome today's news that e-banking is to become even speedier.
APACS, the UK trade association for payments, has announced the completion of the first part of its plan to revamp internet and telephone banking.
Internet banking is now on schedule to become even more convenient for customers, giving them the opportunity to move money between accounts and pay bills 'in just a few hours'.
Paul Smee, APACS chief executive, explained: 'The new system will also enable standing order payments to move more quickly so that money will move from your account on the due date and arrive at the beneficiary's account on the same day.'
Currently, automated payments take three days to process, or 'clear' and the new system will significantly reduce this waiting time for consumers.
Purchasing financial services online has many advantages over traditional methods of banking.
Consumers can sit in the convenience of their own home, and log on at any time of the day.
A range of prices and quotes can be compared instantly, with just a click of a button and online application forms often mean that consumer receive a swift decision. | 
