| Only a few years ago the concept of online | | | | |
| banking seemed like a dubious one - concerns | | | | Safe and secure |
| about security and computer glitches were | | | | |
| enough to put most people off. But with the | | | | Some experts consider internet banking to be |
| continuing success of flagship companies like | | | | even more secure than traditional methods - |
| Cahoot, Egg and Smile, more and more of us | | | | you won't have pieces of paper with sensitive |
| are choosing to do business over the net. | | | | information lying around, and there's no |
| Sophisticated technology means that your | | | | danger of your business being overheard by |
| information is well protected, and an online | | | | other bank customers. Check that the site is |
| account offers several advantages over | | | | secure whenever conducting business online, |
| traditional banking. | | | | never send passwords or account information |
| | | | in emails, and be sure to log out when you've |
| Anytime, anywhere | | | | finished your session |
| | | | |
| The convenience of being able to log on and | | | | The downside? |
| carry out transactions at any hour of the day | | | | |
| or night could be a welcome alternative to | | | | In the past there have been a few cases of |
| visiting the bank on your lunch hour. No | | | | computer glitches revealing customers' |
| queues and no bank holidays mean the customer | | | | personal information, but these have been |
| has even more control over their finances. | | | | relatively minor and as internet banking |
| Plus, your account information is displayed | | | | becomes more popular, systems are likely to |
| as a clear overview - no more riffling | | | | become more secure than ever. Technophobes |
| through mountains of old bank statements to | | | | probably won't enjoy banking online. You do |
| find the info you're looking for. | | | | need to make sure your computer's security |
| | | | system is sound, and that you have privacy |
| Get higher | | | | for your session. Some people may miss the |
| | | | face-to-face contact of their local branch, |
| Because online banks don't have the overheads | | | | and most will choose a combination of online |
| of running branches, they can pass on the | | | | banking, phone banking and branch visits. As |
| savings to the customer, and offer better | | | | internet banking becomes more established, |
| rates of interest on your money. Not only do | | | | it's likely most of us will end up conducting |
| they offer substantially more interest on | | | | at least a proportion of our business online, |
| your current account but there are also loans | | | | and you could find switching on to the new |
| available with very low APRs that will save | | | | banks well worthwhile. |
| you money in the long run. | | | | |