Internet banking hits new high

More people than ever are using the internet to conduct their banking, with a record 31 per cent of all bank customers choosing the internet in the June quarter. The latest figures from MISC Australia show that there were an extra 90,000 users in the quarter, an increase of 1.4 per cent which off-set a 1.3 per cent decline in the March quarter. Customers grew their deposit balances and opened new accounts to take advantage of the opportunity to put up to $1 million into their superannuation funds before lower caps were introduced on 1 July. Transfers between accounts were up 2.2 per cent with a total of 1.5 million extra transfers.