Created 01/10/2007
Online banking offers several advantages. You can pay bills and monitor transactions from the comfort of your home. And due to the lack of expensive high street branches to maintain internet banks are able to keep costs down and offer competitive rates. Below, you can find some of the online banks Review Centre contributors think are the best place to store your money
Ing Direct Internet Banking is recommended by 73 per cent of consumers who have submitted reviews to Review Centre. As well as offering a competitive interest rate on savings and checking accounts many customers at Review Centre have found Ing offer excellent customer service. Ing Direct Internet Banking provides a range of products to suit different requirements. Customers say the ease in which statements can be accessed, transactions made, etc is first rate. Customers also say the Ing Direct phone line is always open - another aspect of the excellent customer service - and staff are described as courteous and well trained. Also getting the thumbs up from Review Centre contributors is the Ing website depicted as easy to navigate. Ing Direct operates in nine countries with more than 18 million customers. The bank launched in the UK in 2003 and already has more than one million customers. The Ing internet bank has won numerous awards for the quality of its service including the Guardians Consumer Finance Award for Top Savings Account in both 2004 and 2005. Ing Direct offer savings, mortgages and home insurance. What do you think about Ing Direct? Have you used Ing Directs online banking service? Let others know by expressing your views at Review Centre.
Another recommended online banking product at Review Centre is First Direct Internet Banking. Achieving a high 7.3 out of 10 rating from all reviews submitted First Direct customers at Review Centre describe this service as a very fast, efficient and reliable way of keeping track on transactions. Customers say the ease in which you are able to set up a direct debit, transfer funds, apply for ISAs, loans, insurance and other services is very good indeed. Described as top notch by one customer who goes on to describe the friendly customer service - First Direct Internet banking is an online bank which is fully integrated with 24 hour telephone banking as back up. First Direct is a free service and also offers an online security guarantee. The First Direct website is regarded as one of the best financial websites on the web and offers a virtual demo on how to set up and use the online services. You will need a PC or Mac and up-to-date browser to use the service. Why not read some individual users reviews for an even fuller picture of what First Direct banking is all about? If you have used First Direct internet banking let us know how smoothly the technical side of things works.
Smile, the winner of numerous industry awards for its service, including winner of Best Internet Banking Provider for six years running with Your Money, receives an above average 6.5 out of 10 rating at Review Centre. Reviewers at Review Centre cite an excellent product and good customer care, an easy to use and comprehensive website and quick and efficient overall service. Reviewers also say there is a good range of offers, including quality rates on current accounts. Users are also reminded that bills can still be paid in person, if required, at Post Office branches. Smile current accounts have been known to pay over 30 times more than some other banks and their overdraft rates are also very competitively priced. Because Smile is part of the ethical Co-Operative Bank group it operates an ethical policy and this goes down well with lots of consumers. Smile turns down business which is in conflict with its customers ethical concerns, including any companies that deal in arms with oppressive regimes. Customers are invited to take part in an ethical questionnaire so Smile can keep tabs on what customers expect from them. Smile also invests heavily in security and scores highly on this issue with Review Centre contributors. Smile was the first UK online bank to be accredited with the ISO27001 Information Security certificate.
Users describe an easy to use and informative site with a good range of internet banking offers, including standard saver current accounts, e Isas and mortgage deals. Typical e accounts can be opened with as little as 1 for the initial deposit and the bank also offers a 24 hour online service, a choice of monthly or annual interest, easy access to your savings and interest guarantees which are currently set to at least match the Bank of England Base Rate until the end of 2008. The B&B was the winner of the Moneyfacts best internet only account provider award for 2007. The account appeals to those who want a good deal on their investments and also a hassle free service. Bradford and Bingley is 100 per cent recommended by Review Centre contributors as of September 2007. Account holders describe a simple service clearly explained and easy to use with one of the best online rates. If you decide to give this or another online account a go please come back and let us now how things went!
Nationwide Internet Banking service has received a number of positive recommendations at Review Centre for being easy to use and for the reliability of its service. A good range of internet services is on offer, according to Review Centre members, including a flex account option which is tied to pay interest along with credit card and savings accounts options. Users say it is very easy to transfer money between different accounts. There are also open internet only products such as e-Savings which offer above average rates. With Nationwide internet banking services you can pay your bills and make transfers between accounts. You can also manage credit cards, savings and your mortgage. You can view all your standard accounts online and you can check your current account statements for the last 27 months. Nationwide also offers a security promise for internet banking and in the unlikely event of online fraud the company will refund any money taken from your account. Those satisfied with the service point out that it is very easy to open new accounts. The Nationwides website also receives praise for being informative and easy to navigate. The site also includes a virtual demo of internet banking services if you are interested in finding out more.
