Online banking accounts

Keep track of your money 24 hours a day, 7 days a week with an online banking account. Use the bank’s secure website to manage your current account.

Online banking accounts - Order based on in-credit rate (AER) in decending order

    • Provider/Product name FlexDirect

      FlexDirect

    • Customer Service Rating
      Great
      67%
      OK
      26%
      Poor
      7%
    • Overdraft Rate (EAR) 0% 1st 12 months
    • Interest Rate (AER) 5.00% on balances between £1 and £2500
    • Go to site

      Phone

      More details

    Market leading

    This is the best rate for balances up to £2,500

    Great for
    Highly commended provider 2014 Moneysupermarket.com Supers Awards
    Dedicated switching service to personally manage your account opening
    But be aware that
    Minimum monthly funding of £1,000
    After 12 months the interest rate lowers to 1% AER
  1. Great for
    Earn up to 4% AER / 3.93% Gross variable interest on your balance up to £5,000
    Get exclusive access to a range of great banking offers
    But be aware that
    For the monthly £5 fee to be waived, a minimum of £1,500 must be paid into your account each month
    To qualify for credit interest you need to pay two different Direct Debits from your Club Lloyds current account each calendar month

    Representative Example:

    Up to £100 interest and fee free overdraft, subject to application and approval. If you use a Planned Overdraft of £1,200 on the Club Lloyds Account the overdraft interest rate Lloyds charge on the first £100 will be 0% EAR variable. The overdraft interest rate on the next £1,100 will be 19.94% EAR variable and a Monthly Overdraft Usage Fee of £6 will apply. You will not pay any fees or interest on an unplanned overdraft if you are overdrawn by £10 or less. EAR is the Equivalent Annual Rate. This is the actual annual rate of an overdraft. It doesn't take into account other fees and charges.

  2. Market leading

    Best rate for balances between £3,000 and £20,000

    Great for
    Cashback on your household bills
    1% cashback on your Santander Mortgage
    But be aware that
    £2 monthly account fee
    Minimum monthly funding of £500
  3. Great for
    In credit interest : use for end of month balances or savings
    9.9% EAR Overdraft rate – great option for overdraft occasional users
    But be aware that
    Minimum monthly funding £1,000
  4. Great for
    Earn up to 15% cashback with Everyday Offers at the kind of places you shop by using your Bank of Scotland debit card
    Have the chance to be paid back for something you've bought up to £500 with your Bank of Scotland debit card
    But be aware that
    Available to internet banking registered current account customers aged 18+. Offers and cashback amounts vary
    Available to customers who register for Everyday Offers cashback via Internet Banking

    Representative Example:

    If you use a Planned overdraft limit of £1,200 on Bank of Scotland Classic Account, the overdraft interest rate Bank of Scotland will charge on the first £25 will be 0% EAR variable and a monthly overdraft usage fee will not apply. The overdraft interest rate on the next £1,175 will be 19.94% EAR* variable and a monthly overdraft usage fee of £6 will apply.
    *EAR is the Equivalent Annual Rate. This is the actual annual rate of an overdraft. It doesn't take into account other fees and charges.

    Overdrafts are subject to application and approval.

  5. Exclusive

    Receive £125 cashback when you switch Exclusive to MoneySuperMarket customers

    Great for
    £125 cash back when you switch
    Satisfaction guarantee
    But be aware that
    Minimum monthly funding of £1,000
    No interest paid on balances in credit
  6. Up to £160 reward

    Great for
    Earn up to £160 reward in the first year - made up of £100 for switching. Your switch is covered by the Current Account Switch Guarantee
    and 12 x £5 reward each month you pay in £750+, pay two different Direct Debits and stay in credit
    But be aware that
    To qualify for £100, use the Current Account Switch Service to transfer and close your old account held elsewhere. Excludes anyone who's had £100 for switching since Jan 2012
    Account terms and conditions apply
    • Provider/Product name Current Account

      Current Account

    • Customer Service Rating
      Great
      45%
      OK
      43%
      Poor
      12%
    • Overdraft Rate (EAR) Planned: £1 a day up to and inc. £1,999.99
    • Interest Rate (AER) 0.00%
    • Go to site

      Phone

      More details

    Great for
    A standard current account for your day-to day banking

    Representative Example:

    If you use a planned overdraft of £1,200, then Halifax will charge you £1 a day when you use it. Overdrafts are subject to status.

  7. £100 reward

    Great for
    £100 reward for switching. Your switch is covered by the Current Account Switch Guarantee
    Worldwide family travel insurance, car breakdown cover, mobile cover and more, provided by selected third parties
    But be aware that
    To qualify for £100, use the Current Account Switch Service to transfer and close your old account held elsewhere. Excludes anyone who's had £100 for switching since Jan 2012
    £15 monthly fee. This is reduced to £10 in each calendar month you pay in £750 or more, pay out two different Direct Debits and stay in credit

    Representative Example:

    If you use a planned overdraft of £1,200, then Halifax charge you a daily fee of £1. For Ultimate Reward Current Accounts, you will pay the higher monthly account fee of £15 rather than £10 if you use your overdraft. This means there will be an additional indirect cost of £5 if you use a planned overdraft on this account. Overdrafts are subject to status.

  8. Great for
    Earn up to 15% cashback at the type of places you regularly shop by using a Lloyds Bank debit card
    Have the chance to be paid back for something you've bought up to £500 with a Lloyds Bank debit card
    But be aware that
    Available to internet banking registered current account customers aged 18+. Offers and cashback amounts vary
    Available to customers who register for Everyday Offers cashback via Internet Banking

    Representative Example:

    If you use a Planned overdraft limit of £1,200 on a Lloyds Classic Account, the overdraft interest rate Lloyds Bank will charge on the first £25 will be 0% EAR variable and a monthly overdraft usage fee will not apply. The overdraft interest rate on the next £1,175 will be 19.94% EAR* variable and a monthly overdraft usage fee of £6 will apply.
    *EAR is the Equivalent Annual Rate. This is the actual annual rate of an overdraft. It doesn't take into account other fees and charges.

    Overdrafts are subject to application and approval.

  9. £100 M&S Gift Card

    £100 M&S Gift Card reward when you switch using the Current Account Switching Service

    Great for
    Earning M&S points for debit card spending - One point for every £1 spent, 100 points equate to £1 in M&S vouchers
    £100 overdraft buffer if you dip into the red
    But be aware that
    To qualify for the £100 gift card you must use the Current Account Switch Service

    Representative Example:

    0% EAR variable on the first £100. 15.9% EAR variable thereafter.

  10. £150 M&S gift card

    £50 M&S gift card when you open an account and a £100 M&S gift card if you switch using the Current Account Switch Service

    Great for
    M&S vouchers worth £212 every year (£127 worth of hot drinks vouchers, £40 vouchers for clothing and homeware and £45 for treats and delights)
    Exclusive access to high rate monthly saver
  11. £150 M&S gift card

    £50 M&S gift card when you open an account and a £100 M&S gift card if you switch using the Current Account Switch Service

    Great for
    M&S vouchers worth £212 every year (£127 worth of hot drinks vouchers, £40 vouchers for clothing and homeware and £45 for treats and delights)
    Exclusive access to high rate monthly saver
    But be aware that
    £17.50 monthly fee
  12. 2014 SUPERS

    Highly Commended provider of 2014

    Great for
    Free Multi-trip travel insurance
    Dedicated switching service to personally manage your account opening
    But be aware that
    Minimum monthly funding of £750
  13. Great for
    Earn a minimum of 1% cashback at selected retailers and an additional 1% cashback on contactless purchases
    Award winning mobile banking - pay your contacts anytime

Online banking

Forget queues, paperwork and limited weekend opening hours – online banking does away with all of it, providing free and secure access to your bank accounts around the clock.

Whether you just want to check your balances, make a payment to someone or transfer money between accounts, you can do it all with just a few clicks at your own convenience.

It’s not surprising then that online banking has taken off in a big way. According to the Payments Council, more than 26 million people in the UK now use internet banking.

While banks and security companies have developed robust and sophisticated security practices, unfortunately there are still unscrupulous folk out there working just as hard to circumvent them – so you still need to be on your guard.

Benefits of online banking

Many of us are in work during weekdays, which means a trip to the bank involves either a rushed lunch after wasting our lunch breaks in a bank queue or spending our Saturday mornings in our local branch.

Thanks to internet banking, many of the simple tasks we used to have to go to the bank for can now be done at home using a computer. You can transfer cash to another account yourself, or check your transaction history on screen rather than having to queue up for a print-out.

In terms of security, we used to have to wait for our monthly statement to come in the post before we could spot any inaccuracies or suspicious activity on our accounts. With an online bank account, we can monitor them in (almost) real-time.

Also, most online banks allow you to search your transaction history, which is extremely useful if you run into a dispute over an allegedly unpaid bill because you’ll be able to prove it one way or another.

Some even have instant messaging services which allow you to chat with an advisor and get answers to your questions.

There are, in fact, very few things you can do in a physical branch that you can’t do with an internet bank account.

Banking safely

The banks do everything they can on their end to make sure you’re banking safely, but you need to do your part too.

As best practice, never follow a link to your bank from an email, as the email could be a ‘phishing’ scam. Instead type the web address directly into the address bar or use a search engine to find it.

If you are using a search engine, be sure to check the site you click through to has the correct URL and is definitely your bank. Cyber criminals sometimes create extremely convincing ‘spoof’ sites to get your log-in details. One thing they can’t fake, however, is the URL – so check it’s exactly right.

Once on the site, make sure there is a padlock symbol in the browser’s address bar indicating the page is secure. A padlock on the web page isn’t enough because that can easily be faked – instead look to the left or right of the web address.

Once you’re logged in, the web address should change from beginning with “http” to “https”, indicating a secure connection.

If your bank offers additional security software, such as NatWest’s Rapport, use it alongside your computer’s own security software for added protection.

If you do notice any unusual or inexplicable transactions in your online statement, contact your bank directly by phone and query or report it.

Don’t ever share your login details with anyone and if you use a shared computer for accessing your online bank accounts, don’t allow the browser remember your log-in credentials when prompted.

Finally, make sure you’re fully logged out before you leave your bank’s website.

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