UK online banking has been huge changes in recent years. You can now bank online with pretty much all UK banks and building societies.

Credit Cards

Most credit card companies will give you internet access to your account. This is so useful for keeping an eye on your account. You can see transactions before your statement arrives and see your balance at any time. Check to see if your bank allows online access for your card. If not consider changing cards.

If you are going to switch, look at cashback credit cards. You can find up to date cashback credit cards here. It can pay you back thousands, and all you have to do is fill in the application form.

You will mostly find cashback rates are 0.5% to 1% (although you can get a limited offer of an amazing 5% at the moment with one of them - check the link above). So if you spend £100 on anything, and your card pays 1% cashback, you get £1 back. Not a massive amount, but over the years it builds up. Especially when you ensure you buy things on your credit card that you would otherwise pay for with cash or debit card.

So Should I Get a Cashback Credit Card?

Only if you clear your balance every month (you know, because those lottery tips paid off…). If you carry over debt from month to month the interest charged will more than wipe out the cashback you earn. But if you do pay off your balance then interest free offers are of no interest to you, so grab a cashback card instead.

Current Accounts

The options you get vary, but normally online current accounts give you all the daily transactions you would normally need your branch for.

You can transfer money to your savings in the middle of the night. Cancel a Direct Debit, check your balance, pending transactions. Some allow you to download your statements, and some can integrate with Microsoft Money or Quicken for a full home banking experience.

Savings Accounts

A quick word about savings accounts. In the online banking world it is very easy to hold accounts with different banks and transfer money between them. So don’t just take the poor interest savings account your current bank offers. The interest rate could be vastly higher elsewhere. For the best UK savings account check here.

Closing Thoughts

Personal finance will only continue to expand online, especially as levels of security and consumer confidence grows. It gives us cheaper products, plus services we can access at our own convenience. It may at times lack the personal touch, but it’s definitely here to stay.