Online or Internet Banks

Most if not all banks now provide some form of online or internet banking facilities to their customers.  Some banks dispense with branches altogether and rely exclusively on online banking, telephone banking and cash cards.

Online banking should be secure provided that you maintain your anti virus, anti spyware and firewall software, and do not disclose your password, or any of the personal information you use when you set up accounts.

Different banks use different security methods to prevent unauthorised access to accounts - expect there to be 2 or 3 separate inputs to gain access to your account - examples could include various combinations of  Account Names, Online Account User ID, Passwords, Digital Certificates downloaded to your computer.

Once you have gained access, online banking can be extremely convenient: allowing you to check balances, make payments (subject to your defined daily limits and account balances), open new accounts and transfer funds between accounts.  Some Banks offer online savings accounts that give better rates of interest.  You may need to upgrade your printer to obtain cash from your online bank.

Always remember, that banks are businesses.  As well as charging for some of their services, they make their profits by lending money to their customers at higher rates of interest than they pay on the money deposited by their customers.

For personal accounts in credit - that is with money deposited in the bank - many banks will not charge for many of their services.  This can change if the account goes overdrawn.

Able was I ere I saw Elba

Financial Information Services, Banks, Anti Virus Software, Anti-Spyware

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