The advantages of online banking

Internet banking is very easy to arrange, as most banks are now set up for it. But what are the advantages of online banking?

24 hour access to your bank accounts

Online banking means that you can access your bank account at any time of day or night, seven days a week. It means that you don't have to travel to the nearest town, queue in a branch, and spend time at the bank counter.

Almost all types of transactions can be done online

Banks vary, but at most of them you can do almost any type of banking transaction online. You can check your balance, move money between accounts, have money paid into your accounts, pay money to other people, and set up standing orders or direct debits. You can often do things like sending money overseas.

However, you cannot usually pay in money or make withdrawals online, and some banks do not allow you to do things like ordering cheque books.

Other advantages

Despite what people often think, online banking is extremely secure. Instead of having to transact your banking business in front of a queue of people, you can do it all in the safely of your own home. Early worries about internet security have all but gone, as the banks have secure sites, and most require you to enter not only a password but other types of personal information as well. Online banking gives you more choice, as you can still go into the bank branch if you wish in most instances - though a few accounts are 'internet only'.

Why not give internet banking a try?

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