Online banking `reflects pace of life`

The growth of online banking as a method of debt management for consumers reflects the pace of life in the 21st century, an industry expert has claimed.

According to the British Bankers` Association (BBA), there has been a notable decline in the number of visits to bank branches over the last few years, as consumers do not have the time to spare.

As a result, consumers are often overlooking the personal advice offered by a bank manager when attempting to manage their debts, Lesley Mcleod, spokesperson for the BBA, said.

Ms Mcleod added: "Customers have a responsibility to keep track of their money themselves. It`s not lack of information about their financial position that is causing people to get into debt."

A survey by Lloyds TSB published earlier this month revealed that 50 per cent of those quizzed had not seen their bank manager for at least ten years.