15 December 2017 : 

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Online Savings Accounts

There are now savings accounts that you can open and administer entirely over the internet. They enable institutions to save on processing and staff time, so they are able to offer better rates of interest on these accounts. The same level of account that you obtain in a branch of the same bank may give a lower rate of interest than the online version.

Compare the best online savings accounts now & get a better savings deal.



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Online Savings Account Benefits

Internet access is the preferred method of managing finances for many people these days, giving them the freedom to manage their money whenever and wherever they want. An internet savings account can blend very well with an online lifestyle.

Security of online transactions is one area where some customers still have concerns, but the major banks have invested heavily in making sure that online systems are as secure as possible. The internet is a big part of the future for banking and they cannot afford to build insecure systems.

The choice of internet savings accounts is vast and the rules of thumb still apply. You need to balance the access level that you will get against the rate of interest that you will receive. High introductory rates do not always last, so make sure that the real rate of return over years is suited to you.

Not having a branch for an internet account means that access to actual cash is usually through an ATM or through your current account.

Getting the best from Online Savings Accounts

  • If you do most of your business via the internet it might make sense to use an internet savings account and take advantage of increased rates
  • Banks are keen to attract customers to their internet accounts, and this is reflected in the higher rates
  • With an internet account you can view statements, make payments and deposit money all via the web
  • Internet accounts are easy to open so you don't have make an appointment or struggle with in-branch queues
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Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.

Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
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