No High Street Banking! (Comparision of Online Banks)

Member Name: Good_Guy

Product:	Comparision of Online Banks
Date:	26/03/09 (30 review reads)
Rating:

Advantages: Saves time and affords visibilty

Disadvantages: None for me

Online banking is such a boon, how did we ever do without it? Certainly it features large for me, I use it virtually daily. I use the internet for all my financial dealings form applying bank accounts, credit cards, ISA's and insurance of all kinds. Naturally as go through the application process for any new product I check the availability of online account management and how user friendly it is to use. I will back out of an application if I don't like what I see!

Something worth considering if your are like me use one of the "cashback sites" for all financial account research and applications; quite often there are handsome rewards for successful applications; forty or fifty quid or even more would not be uncommon.

Why am I such a fan of online banking? It gives me so much visibility of all my transactions across all my accounts. Keeps me aware of not just the current state of play but also what funds my future commitments require.
My Alliance & Leicester current account is very good, lots of things I can do online; tranfer money, set up, amend or cancel standing orders and send a secure message on an queries for my bank to sort out.

What a sad case I am, I have a bit of software on my PC for account management and I am able to download statements and recent transactions from my online banking provider. Most accounts will allow you to download in a format that suit the application you use; maybe Excel or QIF whatever you need. This software is what really gives me future financial planning.

What I am saying is the information available online puts me in control. I have, in the last couple of days corrected my bank for their mistake in duplicating a transaction last month. I never bank on the high street!!!

Summary: Control and accountabilty firmly in your hands