Those who pay bills online are happier with their bank and its security, report says
Published:
16 March 2005 y., Wednesday
Those who pay bills online are happier with their bank and its security, report says.
It seems like every day there's another reason to switch to online banking. A recent report by Javelin Strategy and Research and the Better Business Bureau found that banking online may protect you from identity theft. Now, a new report finds that paying your bills online could actually be more satisfying, too.
"Basically, the Web is a great device for making people's lives easier," says Larry Freed, president of ForeSee Results and author of the new report about online banking and customer satisfaction. "That's what online banking does."
Convenience may be one reason that customer satisfaction with online banking is on the rise: Satisfaction with online banking services is up 5.5 percent since last year, according to the new report, which was jointly produced by ForeSee Results and Forbes.com. Additionally, those who pay their bills online are more satisfied not only with online banking in general, but with their banking institution in particular, the report finds.
Betty Reiss, a spokeswoman for Bank of America, says that the company's internal studies have yielded similar results. Customers who pay their bills online remain with the bank longer than those who do not, Reiss says.
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