Manage your money-don't let it manage you (natwest.co.uk)

Member Name: Trishajs

Product:	natwest.co.uk
Date:	19/07/09 (53 review reads)
Rating:

Advantages: You always know exactly where you are

Disadvantages: Never enough money in the account- but I don't think that is their fault!

I have to start this review by saying that I am going to be commenting on NatWest online banking- and however great or poor I am about to say it is, it should not be your first reason for choosing where best to place your hard earned cash.

Now, that's my conscience clear- so I shall tell you about my experiences of banking online with NatWest.

I used to be a fan of telephone banking and I never thought I would change from that, how wrong I was. I love banking online with NatWest, it feels very secure as they offer you a free online security download, as well as requiring you to enter a 10 digit number, 3 random numbers from a 4 digit security code and three random letters from your memorable word. I know that sounds long winded, but it doesn't take long at all.

I am a strong believer in managing your money well, and belong to the every penny helps school of financial management. This makes online banking a boon- as even if I can move some money into my savings account for a couple of weeks- it is all money. With interest rates so low at the moment, the benefits are not huge, but they are still benefits and they add up.

I can pay all my bills on line, and the best bit is there is no danger of me forgetting to pay a bill because I have left it on the side, as the remittance isn't due for a few weeks- I can tell NatWest when I want the money to leave my account.

To transfer money between my current and my savings account is obviously just moving my own money around , but as an added security when any of the money is leaving me- for example when I pay a credit card bill, I have a little gizmo called a card reader- I have to insert my NatWest debit card into the reader to authorise the funds transfer.

NatWest have in my opinion offered a great online service, not least because you can always talk to human beings if you want/need to, but also because they offer better savings rates to online users.

Let me now tell you a tale which supports the use of online banking in general.

One day I met a friend and she was wearing the most gorgeous new outfit, that I suspected had cost her more than a few pounds! I complimented her on the outfit and she grinned from ear to ear saying "I went to get some cash out of the ATM and saw on the balance that I had so much more money than I thought I had - so I went shopping- how great is that?" Now she is a good friend so I was not sure what I should say next- but decided honesty to a friend was the only option- " but didn't you just pay your council tax bill by cheque" I said- she just looked at me as if to say... "So?" "Well that cheque wont have cleared yet will it- so I was hoping you had allowed for that when you got excited over the balance". I won't bore you with the rest of the saga, suffice to say she was living on hot air pie and windy pudding for quite a while after that.

Summary: Never thought I would switch to online- but so glad I did