What is an online bank account? 

Gone are the days when you need to go to a branch to conduct your day-to-day banking activities. Now, everything can be done online – and increasingly, via your phone – making money management quicker and easier than ever before. This can include transferring money between accounts, paying bills, checking bank statements, setting up automatic payments and even applying for new products.

Select from the filters to refine your results and find what you are looking for Show
Select from the filters to refine your results and find what you are looking for:

Virgin Money Logo
Virgin Money Virgin Money Current Account - Age 18 and over FSCS logo
FSCS logo
Overdraft Rate (EAR)
19.90%
Interest Rate (AER)
2.02%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Credit interest payable up to £1,000
Must open linked savings account
Also available via Clydesdale Bank and Yorkshire Bank
Go To Provider's Site
Representative Example:Based on an overdraft limit of £1200 charged at 19.90% EAR Variable. Representative 19.9% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Account Sweeping
Cheque Book
Direct Debits
Offset Option
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Mastercard
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01 - £1000.00
2.00%
2.02%
£1000.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
£0.00 / £0.00
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
£0.00 / £0.00
Transaction Charge
£0.00 / £0.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 77% 1 day 16 days
Get a debit card 0% 4 days 6 days
Get internet banking 100% 0 days 0 days
Get an overdraft 0% 5 days 7 days
Replace a lost debit card 0% 4 days 8 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
N/A
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.52% - Per Month
19.90%
Grace period
15:00 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.52% - Per Month
19.90%
Refused Payment Fee
Up to £4.00
Grace Period
15:00 same day
Monthly Maximum Charge
40.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Savings - preferential terms
- Eligible for linked Virgin Money Instant Savings Account.
Santander Logo
Santander 123 Mini Current Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
3.00%
Account Fee
N/A
Account Management
Available At Branch Not Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Interest paid on credit balances up to £2,000
Age restrictions apply
Switch Service Guarantee member
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 13 Years / Max Under 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01 - £99.99
0.00%
0.00%
£100.00 - £199.99
1.00%
1.00%
£200.00 - £299.99
1.98%
2.00%
£300.00 - £2000.00
2.96%
3.00%
£2000.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.95% / 2.95%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.95% / 2.95%
Transaction Charge
£0.00 / £0.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 74% 1 day 9 days
Get a debit card 0% 7 days 7 days
Get internet banking 0% 7 days 9 days
Get an overdraft 99% 0 days 5 days
Replace a lost debit card 0% 4 days 5 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
N/A
Arranged Overdraft
Unarranged Overdraft

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on debit card purchases
- Eligible for Retailer Offers, customers must be over 16 and use online or mobile banking to qualify. Earn up to 15% cashback from selected retailers when using a Santander debit card.
Exclusive offers with this account
- Free access to preferential rates, exclusive offers and discounts at 123 World.
TSB Logo
TSB Under 19s Account - Age 11-15 FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
2.50%
Account Fee
N/A
Account Management
Available At Branch Not Available By Mail Available At Post Office Not Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
High rate of credit interest up to £2,500
Account can only be opened in branch
Switch Service Guarantee member
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 11 Years / Max Under 16 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00 - £2499.99
2.47%
2.50%
£2500.00+
0.10%
0.10%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
No min, max £1.00 (Lower fee for withdrawals made within the EEA) / £1.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
1.50% (Min £2.00, max £4.50). 0.00% / 1.50% (Min £2.00, max £4.50)

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 92% 0 days 11 days
Get a debit card 0% 7 days 7 days
Get internet banking 93% 0 days 4 days
Get an overdraft 10% 3 days 7 days
Replace a lost debit card 0% 7 days 7 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
N/A
Arranged Overdraft
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
£0.00
Grace Period
N/A
Monthly Maximum Charge
N/A

Benefits

Some benefits might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
TSB Logo
TSB Under 19s Account - Age 16-19 FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
2.50%
Account Fee
N/A
Account Management
Available At Branch Not Available By Mail Available At Post Office Not Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Discounted AA driving lessons if aged 17
Account can only be opened in branch
Switch Service Guarantee member
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 16 Years / Max Under 19 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Account Sweeping
Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00 - £2499.99
2.47%
2.50%
£2500.00+
0.10%
0.10%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
No min, max £1.00 (Lower fee for withdrawals made within the EEA) / £1.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
1.50% (Min £2.00, max £4.50). 0.00% / 1.50% (Min £2.00, max £4.50)

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 92% 0 days 11 days
Get a debit card 0% 7 days 7 days
Get internet banking 93% 0 days 4 days
Get an overdraft 10% 3 days 7 days
Replace a lost debit card 0% 7 days 7 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
N/A
Arranged Overdraft
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
£0.00
Grace Period
N/A
Monthly Maximum Charge
N/A

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Driving lessons - preferential deals
- For those aged 17 and over. Discount on AA driving lessons worth £36, a free ‘Pass Your Test’ CD-ROM worth £19.99 and discount on Pass Plus worth £20.
Virgin Money Logo
Virgin Money Virgin Money Current Account - Age 16-17 FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
2.02%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Credit interest payable up to £1,000
Age 16-17 cannot apply online
Also available via Clydesdale Bank and Yorkshire Bank
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 16 Years / Max Under 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Account Sweeping
Cheque Book
Direct Debits
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Mastercard
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01 - £1000.00
2.00%
2.02%
£1000.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
£0.00 / £0.00
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
£0.00 / £0.00
Transaction Charge
£0.00 / £0.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 77% 1 day 16 days
Get a debit card 0% 4 days 6 days
Get internet banking 100% 0 days 0 days
Get an overdraft 0% 5 days 7 days
Replace a lost debit card 0% 4 days 8 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
N/A
Arranged Overdraft
Unarranged Overdraft

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Savings - preferential terms
- Eligible for linked Virgin Money Instant Savings Account.
Nationwide BS Logo
Nationwide BS FlexDirect - Funded FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.90%
Interest Rate (AER)
2.00%
Account Fee
N/A
Account Management
Not Available At Branch Available By Mail Available At Post Office Not Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
2% AER credit interest on balances up to £1.5K for first 12 months
At least £1,000 must be paid in per month
Switch Service Guarantee member
Representative Example:Based on an overdraft limit of £1200 charged at 39.90% EAR Variable. Representative 39.9% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
Regular Funding/Income: Min £1000.00 Per Month
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01 - £1500.00
1.98%
2.00%
£1500.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£1.00 / £1.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 100% 0 days 0 days
Get a debit card 0% 8 days 12 days
Get internet banking 0% 8 days 13 days
Get an overdraft 0% 3 days 6 days
Replace a lost debit card 0% 6 days 9 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
0.00% for 12 months
N/A
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.84% - Per Month
39.90%
Grace period
14:30 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
£0.00
Grace Period
14:30 same day
Monthly Maximum Charge
N/A

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Credit cards - preferential terms
- Eligible for Select Credit Card.
Loans - preferential terms
- Discounted rates on loans.
Savings - preferential terms
- Eligible for Flexclusive accounts.
TSB Logo
TSB Classic Plus - Funded FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.90%
Interest Rate (AER)
1.50%
Account Fee
N/A
Account Management
Available At Branch Not Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Credit interest payable on balances up to £1.5K when account is registered for online banking, paperless statements & correspondence
Switch Service Guarantee member
No arranged or unarranged interest free amount
Representative Example:Based on an overdraft limit of £1200 charged at 39.90% EAR Variable. Representative 39.9% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
Regular Funding/Income: Min £500.00 Per Month
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Account Sweeping
Cheque Book
Direct Debits
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00 - £1500.00
1.49%
1.50%
£1500.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
No min, max £1.00 (Lower fee for withdrawals made within the EEA) / £1.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
1.50% (Min £2.00, max £4.50). 0.00% (Fee for payments in Euros within the EEA) / 1.50% (Min £2.00, max £4.50)

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 92% 0 days 11 days
Get a debit card 0% 7 days 7 days
Get internet banking 93% 0 days 4 days
Get an overdraft 10% 3 days 7 days
Replace a lost debit card 0% 7 days 7 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
0.00% for 3 months
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.84% - Per Month
39.90%
Grace period
22:00 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.84% - Per Month
39.90%
Refused Payment Fee
Up to £3.00
Grace Period
22:00 same day
Monthly Maximum Charge
30.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Mortgages - preferential terms
- £150 cashback on completion for remortgage applications when account funded with at least £500 per month.
AIB Logo
AIB Student (12-18) - Age 12-18 FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
1.00%
Account Fee
N/A
Account Management
Available At Branch Not Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Not Available
Additional Information
No minimum funding
No direct debits or standing orders
Switch Service Guarantee member
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 12 Years / Max Under 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00+
1.00%
1.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
0.00% / 0.00%
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
Min 0.00%, max 1.50% (Lower fee for payments in Euro. Higher fee for payments in any other currency) / Min 0.00%, max 1.50% (Lower fee for payments in Euro. Higher fee for payments in any other currency)

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 86% 1 day 13 days
Get a debit card 0% 7 days 12 days
Get internet banking 0% 10 days 83 days
Get an overdraft 0% 0 days 0 days
Replace a lost debit card 0% 5 days 26 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
N/A
Arranged Overdraft
Unarranged Overdraft

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on debit card purchases
- Eligible for First Trust Bank Rewards in partnership with Visa. Receive cashback rewards when spending on your Visa card at selected retailers. Cashback is paid into the registered debit card account used for the qualifying purchase within 5 working days.
Preferential terms for currency, travellers cheques or other travel money
- Commission free travel money.
Nationwide BS Logo
Nationwide BS FlexOne FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
1.00%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Not Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Credit interest payable up to £1,000
Age restrictions apply
Account available until holder reaches 23
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 11 Years / Max 17 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00 - £1000.00
1.00%
1.00%
£1000.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
0.00% / 0.00%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
0.00% / 0.00%
Transaction Charge
£0.00 / £0.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 100% 0 days 0 days
Get a debit card 0% 8 days 12 days
Get internet banking 0% 8 days 13 days
Get an overdraft 0% 3 days 6 days
Replace a lost debit card 0% 6 days 9 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
N/A
Arranged Overdraft
Unarranged Overdraft

Benefits

Some benefits might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
NatWest Logo
NatWest Adapt Current Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
1.00%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Credit interest payable
No direct debits or standing orders allowed
Account for ages 11-18
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 11 Years / Max 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Debit Card
Visa
Withdrawal Limit
£250

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01+
1.00%
1.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
0.00% / 0.00%
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
0.00% / 0.00%

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 0% 1 day 2 days
Get a debit card 0% 3 days 4 days
Get internet banking 0% 8 days 8 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 4 days 14 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
N/A
Arranged Overdraft
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
Grace Period
N/A
Monthly Maximum Charge

Benefits

Some benefits might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Note

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Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution.

Disclaimer

All overdrafts are subject to the applicant’s status. You may not be offered credit. All rates and fees are subject to change without notice. Please check all rates and terms before borrowing.

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Online bank accounts explained

Derin Clark

Derin Clark

Online Reporter

At a glance

  • Online bank accounts are sometimes offered exclusively online only - however more and more bank accounts come with online access.
  • Online bank accounts can be accessed either through your desktop or mobile device and increasingly come with Apps.
  • Online banking can be a convenient way to manage your money.
  • Always make sure to protect your online banking details.

What is online banking?

Online banking means accessing your bank accounts online, be it via a desktop computer, tablet, phone or any other internet-connected device. Increasingly, banks are offering dedicated smartphone apps for even better accessibility, allowing you to truly bank on the go.

Typically, customers will be able to undertake a variety of day-to-day banking activities through internet banking services, without needing to go to a branch or speak to someone in person. This can include transferring money between accounts, paying bills, checking bank statements or setting up automatic payments (such as direct debits or standing orders), and even applying for new products.

Benefits of internet banking

The convenience has got to be the top benefit of this form of banking. Gone are the days of needing to rush to a branch on your lunch break, or taking time out of your weekend to spend hours waiting in line – now, the majority of financial matters can be undertaken wherever and whenever it suits you, whether you’re commuting or curled up on your sofa. These days your phone can even be used to make physical purchases through services such as Apple Pay and Google Pay, that link to your chosen credit or debit cards.

Then there’s the ability to truly keep on top of your finances. Because you’re able to log on and check the status of your accounts at any time, you can quickly see if there are any issues, such as if an upcoming payment means you’re likely to go overdrawn or if a calendar month fee might push you over the edge. Indeed, according to the Financial Conduct Authority (FCA), customers who use a mobile banking app and text alert service are 24% less likely to incur unarranged overdraft fees. This means that online banking could actually help improve your finances, as well as helping you monitor them.

It could also boost your chances of being alerted to any suspicious activity, such as identity fraud. If you check your balance and bank statements and don’t recognise any transactions, you can quickly dig deeper and contact your bank for further information – please call your bank immediately if you spot anything untoward. Though there’s the chance you’re concerned about the security implications of internet banking itself; please read on for what to watch out for, and why you needn’t be concerned about logging on.

What to watch out for

Banks and building societies are fully regulated by the FCA and Prudential Regulation Authority and have worked hard to make their online banking facilities as secure as possible. Websites are encrypted and you’ll likely need to go through several authentication steps before you can log on, with passwords and secure keys being commonplace, while some smartphone apps use fingerprint or even facial recognition software for added security.

That said, there are still a few things you need to watch out for to ensure your internet banking experience is as secure as possible:

  • When using public computers, never check the box to ‘remember your details’.
  • Be vigilant against phishing scams. Never respond to emails that ask for online banking passwords or personal details, even if they claim to be from your bank; this extends to text messages and phone calls, too. Your bank will only ever ask you for two or three digits of your password if they need to confirm your identity – never give anyone the whole thing.
  • If you’re banking on your phone, only ever use secure Wi-Fi connections or the 3G or 4G connection through your mobile provider. Never use public Wi-Fi for any banking activity as these often aren’t secure.
  • Most online banking facilities will automatically log out after a period of inactivity, but always log out manually, especially if you’re using a public computer.
  • Make sure your anti-spyware and anti-virus software are up to date.

How to choose the best internet bank account

When you open an online bank account in the UK, whether you’re after single or joint accounts, you want to make sure you’re getting the best one for your needs. This will likely depend on a range of important factors, such as overdraft facilities and whether or not the account offers in-credit interest, but another consideration will invariably be its online banking facilities.

These days, the vast majority (if not all) bank accounts offer some form of online banking, but not all are created equal. This is particularly true when it comes to banking apps, and is why research is key. Start the process by comparing online bank accounts using the above chart, and once you’ve found one with the features you need, do a bit of extra research into your potential account’s banking facilities (such as searching for reviews of banking apps). Then, click on the relevant “Go to Site” button that will take you directly to the account in question, letting you quickly and easily apply for a bank account online.

Can I get internet banking on an existing account?

Most likely, yes! Most current accounts offer some form of online banking; if you haven’t signed up with your provider yet, make sure to contact them to find out what to do next.

Can I use internet banking abroad?

Generally speaking, yes – as long as you’ve got an internet connection, you’ll be able to access your bank account online. Though you’ll arguably need to keep security and potential costs in mind, even more so than when you’re in the UK: don’t use your hotel’s public wifi and instead use your phone’s internet connection, but only if you’re in the EU and therefore won’t be faced with extra roaming charges.

Can I use internet banking on my phone or tablet?

Yes – provided you’ve got an internet connection, you can bank online. Most providers these days offer a banking app, too, so head to your phone’s app store to find it, or go to your provider’s website and follow the official links.

Can I open a bank account online in the UK?

Yes, though some providers will still require you to go to a branch with identity details to complete your application. For others, the whole process is completed online, and if you’re switching accounts you can use the Current Account Switch Service (provided your old and new banks are signed up to the scheme – most of them are) for added ease.

What about Open Banking?

You may have heard a lot about Open Banking recently. Open Banking and online banking are slightly different, though similar in many ways: Open Banking still allows you to bank online or on your phone, but rather than having different apps for different accounts, all of your financial information can be included in one place, if you choose to share that information between providers. You can find more about it here.

Compare online bank accounts

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