Online banking advantages

Flexibility is the first and most obvious advantage of online banking. Your account can be accessed quickly, any time of the day or night, 365 days a year, doing away with the inconveniences of restrictive banking hours, public holidays and queuing.

It also means that you can set up direct debits, transfer money and pay your credit card bill no matter where you are in the world.
And if you have more than one account with the same bank – for example a current account, credit card and savings account – you'll be able to see all of your balances in one place.
While you don’t have to choose an online-only bank to take advantage of everything that online banking has to offer, these types of institutions can offer some of the best rates on internet-only savings accounts, online credit cards, personal loans and mortgage deals.
This is because internet banks are cheaper to run than high street operations, so savings can be passed on to customers. As with old-style banking, balances and statements can be viewed, funds transferred between accounts, bills paid and standing orders arranged as usual and debit and credit cards and chequebooks usually come as standard.