27 million (57%) British banking customers are more confident about how they manage their finances than previously, according to a new survey from Lloyds TSB.
British consumers appear to be emerging from the depths of the recession with enhanced financial insight. The latest research shows how consumers are taking more control of their finances, as 32% are more in control than in previous years.
Of those surveyed, 52% has at some point used an overdraft in the past, although the trend seems to be diminishing 46% use their overdraft a lot less now than in previous years and 34% have not used their overdraft facility in at least one year.
The financial crisis has contributed to money management improvements for over six million consumers, whilst over one million people feel the tools provided by their banks have contributed to enhanced financial control.
Jatin Patel, Lloyds TSB said: “We are always looking at how we can help consumers take control of their finances. Tools such as free mobile banking and text alerts have been well received by our customers. Since the service became free there has been a two fold increase in the number registrations.