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How to open a bank account online

Save time, money and energy using electronic banking. Electronic banking is easily set up online right from your own home. It is simple to open a bank account online and it is a safe way to handle your banking needs from home. Learn how to set up an account and check out the great advantages of online banking.

Online bank accounts

Once you learn how to open a bank account online and get login and password instructions, you'll wonder why you didn't do it sooner. To use electronic banking only requires a few basic computer skills, a couple of minutes and filling out a simple form. Many new accounts are set up instantly, while some banks may take a few days before you are operational and ready to use your online account.

Choosing an online bank

Fire up your Internet researching skills and look for an online bank to suit your needs. Visit several online banks to see the services they offer and check out their customer service departments as well. Find UK banks using moneysupermarket.com or money.co.uk to get started with a list of banks offering online services.

Bank policies

Before selecting your new online bank, make sure you understand the policies of each bank. Check their interest rates for savings or future loans. Some checking accounts may carry banking fees and others offer free services.

Consider making a spreadsheet of half-a-dozen online banks listing all the benefits they have to offer such as debit cards or free checking. Evaluate each bank and choose one that offers all your online banking needs.

Sign up for online banking

Click on the application for a checking or savings account. Follow instructions. Have your National Insurance number, employment information and phone and address information at hand.

Advantages of online banking

When you consider it only takes a couple of minutes to open a bank account online, it is well worth the effort for the convenience of banking online.

People that work from home and are paid using PayPal can easily transfer funds over to electronic checking or savings account. Most transactions of this nature post in just three to five days.

Electronic bill pay is a wonderful perk to online accounts. It is quick, easy and you can set it up for automatic monthly payments.

Monitor all your deposits, balances and checking transactions day or night with electronic banking.

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