Mobile banking popular with young

The advent of mobile banking - allowing people to check their bank balance and more from their phones - is most popular among younger Britons.

When asked, 54 per cent of 16 to 21-year-olds were happy to embrace mobile banking technology, more than any other group.

That is according to new figures from Alliance & Leicester current accounts, showing young Britons are almost twice as likely to access their bank account from their mobile.

Mobile phone banking offers customers access to their current account 24 hours a day every day of the year, whether they are at home or abroad - users can check their balance, view mini-statements, and carry out every other function offered by cash machines except dispensing money.

The access is protected by a pass code and data is automatically deleted from the phone's memory.

"Mobile phones have fast become a central tool in everyone's day-to-day lives, and being able to use them for extended services like managing your finances will be extremely convenient for very many people," said Helen Palmer, current accounts manager at Alliance & Leicester.

"Although the technology is still relatively new, it's great to see young people embracing it to keep a check of their finances and manage their money more effectively."

Four in ten 16 to 21s are happy to use their handset to check their bank balance before buying something, with almost as many willing to check mini-statements on their mobile phone's screen.

More than one in four (27 per cent) are also happy to check their current account activity while overseas.