You are here: Home - Uncategorized -

More small businesses banking online

Written by:

Almost a half of all small business now bank online, according to the British Bankers’ Association (BBA).

New figures from the BBA show that 42.5% of small businesses now use online banking, a boost in the use of the technology. Additionally, the BBA said that nearly 547,000 small businesses established new banking relationships over the last year.

BBA chief executive Ian Mullen, said: “With more than half a million new banking relationships being established in the last twelve months and a significant proportion of all businesses now banking online, the banks’ effective support for the small business sector is clear.”

Meanwhile, the BBA said small businesses’ banking deposits were up 8% this year, reaching £41.1bn, and that overdraft lending also rose some 8%, now standing at £9.2bn, with term lending also totalling some £34bn, up by 10% compared to last year.

Related Posts


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Budgeting to blame for poor savings

Brits claiming they cannot save on a monthly basis are not budgeting well enough, new research has claimed.