- Where can I get an online account?
Nowadays all high street banks can provide their customers with a secure online banking facility, allowing them to manage their finances from the comfort of their homes.
- What can I do online?
These accounts can provide you with visibility of your statements, standing orders and direct debits, allowing you to add, edit or delete them where required. They also give the functionality to pay bills and move money between internal and external accounts.
- How will this improve my banking experience?
Online banking effectively solves the inconveniences of restrictive banking hours, public holidays and queuing. They provide instant access to your account 24 hours a day 7 days a week, meaning that depending on your banking requirements you may never need set food in a bank again.
You can also gain access to helpful information such as FAQ's, and contact your bank online using the email feature or via the telephone using the phone numbers listed.
- What do the banks get out of providing online accounts?
Part of the reason for providing customers with online accounts is for cross selling purposes, by advertising their other products on the website. These include things like credit cards, mortgages, insurance etc. and can be very helpful as they provide customers with a view of the true scope of the providers services.
- Switching over completely to online
Some banks only exist online, and are generally known for providing better rates of interest and benefits such as 0% overdraft facilities, as managing accounts online and via the telephone reduces the overheads of a bank managing your account, allowing them to pass on these savings in the form of better rates.
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Banking & Saving
Online Accounts
| Provider | Account | AER | Min Bal | O/D Rate | O/D Buffer | Apply |
|---|---|---|---|---|---|---|
 |
Earn 4.00% AER on your whole balance if you keep £5,000 - £7,000 in your account
|
4%
|
£1
|
No Offer
|
No Offer
|
|
 |
Get 6.0% AER on all balances up to £2,500. You need to be 21 & pay in £500+ p.m
|
6%
|
£1
|
0%
for 12 mths
|
£2,000
|
|
 |
£1,000 0% overdraft facility for 12 months & 6% AER on your first £2,500 for 12 months
|
6%
|
£1
|
0%
for 12 mths
|
£1,000
|
|
 |
£200 interest free overdraft. You need to be 18+ & pay in £800+ p.m
|
0.50%
|
£1
|
0%
for life
|
£200
|
|
 |
Get a Debit Card & access to a network of over 1,700 branches. You must be age 18+
|
0%
|
£1
|
0%
N/A
|
No Offer
|
|
 |
Halifax will give you £5 each month you pay in £1,000, whether you're in credit or overdrawn.
|
0%
|
£1
|
0%
|
£2,500
|
|
 |
BOS will give you £5 each month you pay in £1,000, whether you're in credit or overdrawn.
|
0%
|
£1
|
0%
|
£2,500
|
|
 |
HSBC will switch all your Direct Debit & Standing Orders to your new account for FREE. You need to be 18+ & pay in £500+ p.m
|
0.10%
|
£1
|
0%
for 2 mths
|
£500
|
|
|
|
Get 5.0% AER on all balances up to £1,000. £2,000 0% overdraft. (For ages 16-21 only)
|
5%
|
£1
|
0%
|
£2,000
|
- To get 4% AER you must keep between £5,000 and £7,000 in your account at any time
- Amounts below this are subject to the following rates:
- £1+ = 0.10% AER
- £1,000+ = 2.00% AER
- £3,000+ = 3.00% AER
- £5,000 up to £7,000 = 5.00%AER
- You must deposit £1000 per month to qualify for these rates
- Free banking – no charge for everyday transactions when you’re in credit
- Online Banking
- 24/7 telephone support
- Commission-free foreign currency
- 6.0% Annual Earnings Rate on balances up to £2,500
- **(6.0% is fixed for 1 year)**
- 0.1% AER (variable) on balances over £2,500
- £2,000 0% overdraft facility for 12 months from account opening, then 50p a day (up to £5 a month) if agreed by Alliance and Leicester.
- You have to pay at least £500 per month into your current account
- You must be over the age of 21
- Earn 6% AER on balances up to £2,500 for 12 months
- After 12 months you will earn 1.5% AER on any balance on the account
- 0% interest- free on Overdrafts for the first 12 months, after this it will revert to 19.9%EAR
- Manage your day-to-day money for free with no monthly account fee, no transaction charges and no charges for using account facilities - as long as you remain in credit
- Get a cheque book and a Visa Debit card. You can use your Visa Debit card in shops wherever you see the Visa symbol and at virtually every cash machine in the UK and many worldwide. It also acts as a £100 cheque guarantee card
- Access to your money 24 hours a day 7 days a week through our e-banking service, 750+ branches, 24-hour telephone banking service, LINK cash machine network or even by post
- At least £1,000 a month must be credited to get 5% AER on balances up to £2,500
- If not switching earn 5% AER on balances up to £1,000 for 12 months if £1,000 is credited each month
- ***You must deposit at least £800 per month***
- Interest on all balances tracks at 0.5% below the Bank of England Base Rate, guaranteed for the life of your Current Account.
- UK call centres open 24/7, 365 days a year
- Fee-free £200 overdraft facility
- Dedicated switching service
- A carbon neutral debit card (subject to status).
- Online Banking – do your banking from home (subject to registration).
- Telephone Banking – pay bills and more (subject to registration).
- A network of over 1,700 branches.
- Draw on cheques paid in before they clear (subject to status and limit).
- An overdraft: 19.3% EAR typical variable*. Subject to status and application. Overdrafts are repayable on demand.
- Barclays £2,500 Overdraft Reserve Option:
- - One Reserve Usage Fee of £22 for each five consecutive working day period from the day you start using your Reserve.
- - No interest payments on your Reserve balance. 0% EAR typical.
- - The Reserve is repayable on demand. The maximum Reserve is £2500, subject to status.
- - One Returned Transaction Fee of £8 for each returned transaction where you exceed your Reserve.
- - One Guaranteed Transaction Fee of £8 for each guaranteed payment made where you exceed your Reserve.
- Halifax will give you £5 each month you pay in £1,000, whether you're in credit or overdrawn.
- This account offers a flexible 0% Overdraft facility:
- - £1 per day - if you use an 'Arranged' overdraft up to and including £2,500
- - £2 per day - if you use an 'Arranged' overdraft up to and including £2,500
- - £5 per day - if you use an 'Un-Arranged' overdraft
- A Halifax Visa debit card
- Access to the extensive branch Network
- 24/7 Online Banking Access
- BOS will give you £5 each month you pay in £1,000, whether you're in credit or overdrawn.
- This account offers a flexible 0% Overdraft facility:
- - £1 per day - if you use an 'Arranged' overdraft up to and including £2,500
- - £2 per day - if you use an 'Arranged' overdraft up to and including £2,500
- - £5 per day - if you use an 'Un-Arranged' overdraft
- A Bank of Scotland Visa debit card
- Access to the extensive branch Network
- 24/7 Online Banking Access
- YOU MUST BE 18+ & PAY AT LEAST £500 PER MONTH INTO THIS ACCOUNT
- HSBC Automatically transfer your Direct Debits and standing orders to your new account
- New cheque book & Debit Card within a week of you opening your account...or HSBC give you £10
- Enjoy a 0% overdraft for two months, while HSBC transfer your account After this time the overdraft rate will be 19.9% EAR variable
- 5.0% AER (fixed for 1 year) on balances up to £1,000
- 0.10% AER (variable) on balances over £1,000
- Access to a £2,000 0% overdraft facility
- Visa debit card
- Access to your account via Internet, Telephone and Mobile Banking
- Recommend a friend and earn £50
| Provider | Account | AER | Notice | Interest Paid | Min Bal | Apply |
|---|---|---|---|---|---|---|
|
|
NO withdrawal Penalties. Rate includes a 1.65% bonus payable until 2nd August 2010.
|
3.15%
|
Instant
|
Annually
|
£1
|
|
 |
Guaranteed rate of 3.00% AER for 12 months from account opening (2.96% gross p.a.). Interest paid monthly
|
3%
|
Instant
|
Monthly
|
£1
|
|
 |
NO withdrawal Penalties. 2.85% AER flat rate with a 1.20% AER bonus period for 12 months!
|
2.85%
|
Instant
|
Annually
|
£1
|
|
 |
NO withdrawal Penalties. Rate includes 1.55% gross p.a./AER Bonus for the first 12 months
|
2.80%
|
Instant
|
Annually
|
£1
|
|
 |
Minimum Deposit £1000+. 2.80% AER (variable) with NO bonus included. Offer available until 31st July 2009.
|
2.80%
|
Instant
|
Annually
|
£1,000
|
|
|
|
NO withdrawal Penalties. Rate includes 2.00% gross p.a./AER Bonus for the first 12 months
|
2.50%
|
Instant
|
Monthly
|
£1
|
|
 |
No Withdrawal Restrictions. Rate includes 1.00% gross p.a./AER Bonus for the first 12 months
|
2.25%
|
Instant
|
Annually
|
£1
|
|
 |
2.00% AER flat rate with no bonus period included! Lower rate of interest will occur if you make 3+ Withdrawals per Year
|
2%
|
Instant
|
Annually
|
£1
|
|
 |
Get 6 free withdrawals per year - and only £1 per withdrawal thereafter. Rate includes 1.0% gross p.a./AER Bonus for the first 12 months
|
1.10%
|
Instant
|
Annually
|
£500
|
- SAVE from £1 up to £2,000,000.
- Interest PAID annually.
- Rate includes a BONUS of at least 1.65% payable until 2nd August 2010.
- No withdrawal charges.
- Online account.
- Available to those aged 18 or over.
- New ING Direct Savings Account customers can enjoy a guaranteed rate of 3.00% AER for 12 months from account opening (2.96% gross p.a.)
- Interest paid monthly
- After 12 months the rate will revert to our ING Direct Savings Account variable rate, currently 0.50% AER
- Move your money when you like, with no penalties or restrictions
- Start saving from £1, with no minimum or maximum monthly deposits required
- Open an account in minutes
- Award winning UK call centres
- 2.85% Gross p.a./AER variable interest.
- Year 1 includes a bonus rate of 1.20% from the date of account opening
- Standard rate for year 2 onwards is 1.65% p.a. (variable)
- Unlimited access with no notice required.
- Manage your savings online.
- Invest between £1 and £1,000,000.
- Secure and easy to use.
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS – Financial Services Compensation Scheme.
- Get 2.80% gross pa/AER variable
- Includes an introductory 12 month variable bonus rate of 1.55% gross pa from the date your account is opened on balances up to £100,000.
- No interest payable on balances over £100,000 during the first 12 months.
- After 12 months you move to a standard variable rate; currently 1.25% gross pa/AER (variable).
- No penalties for withdrawals.
- Easy access 24 hours a day, every day.
- It's easy to set up a regular deposit, then sit back and watch your savings grow.
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Open an Internet Saver account before 31st July 2009 and receive this new higher variable rate of 2.80% AER.
- Although the rate can change, it is guaranteed to be at least 2% above the Bank of England base rate for 12 months from your account opening date.
- Minimum Deposit = £1000
- Maximum Deposit = £500,000
- Interest is calculated daily and paid annually on the anniversary of account opening
- Have Multiple Accounts & Keep track of your savings - name your accounts, such as 'Holiday', 'Wedding' or 'Rainy Day'
- Online servicing ensures you can access your account at any time
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Abbey are part of the Santander group one of the 10 largest banks in the world!
- Great return of 2.50% gross/AER (variable), which includes a bonus of 2.00% gross/AER (variable) for the first 12 months from account opening.
- Save from just £1
- 24/7 access to your money without notice or penalty - Cash Card with every account!
- Interest is calculated daily and paid Monthly
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Minimum Deposit £1
- 2.25% AER/Gross which includes a 1.00% bonus interest for 12 months on balances up to £100k.
- No withdrawal Restrictions
- Deposit & Withdraw money via online transfer
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Get 2.00% gross p.a./AER providing you don't make more than 3 withdrawals per year (more than this will result in a lower rate of interest).
- Save from £1 to £500,000
- If you ARE a Nationwide FlexAccount holder, you can set up a high interest internet savings account online
- If you are NOT a Nationwide FlexAccount holder, you WILL need to open a FlexAccount Online at the same time as opening your e-Savings Plus.
- Get 1.10% AER (includes a 1.0% gross introductory bonus for 12 months from Account opening)
- Get 6 free withdrawals per year - and only £1 per withdrawal thereafter
- Save £500 to £1million
- Interest is paid annually in March
- Post Office guarantee to pass on any rise in the Bank of England Base Rate (within 30 days) until January 2010
- Post Office also guarantee that your interest rate will never be more than 1% below the Bank of England Base Rate for the life of the account.
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
Online Accounts Explained
Editors Choice
Alliance Leicester Current Account
Get a whopping 6% AER on your first £2,500 deposited in your Alliance Leicester Account. Also receive a £2000 0% 12 month's overdraft facility - What a Package!...
Editors Choice
ING Direct
Offering 3.0% AER on all balances from £1 with Instant Access to your funds and NO Withdrawal Penalties. Apply now and have an account open online in only 15 minutes...