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Internet Savings Accounts

There are now savings accounts that you can open and administer entirely over the internet. Because they allow banks to save on processing and staff time they are able to offer good 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 internet version. Read more...>

	Alliance & Leicester eSaver 6.60% AER when no withdrawals are made	6.60%	Instant Access
	ING Direct A high interest rate that stays high	6.50%	Instant Access
	Tesco Internet 1.5% bonus for 12 months when you open an Internet Saver Account	6.50%	Instant Access
	Citibank Flexible Saver 24 hour internet and telephone banking	6.43%	Instant Access

Internet access is the preferred method of interacting with their finances for many people these days, giving them the freedom to manage their money whenever 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 that 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.