US consumers 'using banks to pay online bills'

5 August 2009

A growing number of US consumers are opting to use bank or credit union websites in order to pay their bills, a new report has suggested.

According to a study by Javelin Strategy & Research, more individuals are using these services rather than those of individual biller online portals.

"For the first time, more consumers paid bills via bank sites in the past month rather than biller-direct sites," president and founder of Javelin Strategy & Research James Van Dyke remarked.

The survey also revealed that eight out of ten US households now bank online, with 60 per cent using such services weekly and seven in ten utilizing them to pay their bills on a monthly basis.

BoA's president of consumer and small business banking Liam McGee recently told Bloomberg that there has been an increase in the number of customers that use its online services in order to manage their bank accounts.

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