UK online banking has seen huge changes in recent times. You can now bank online with almost all UK banks and building societies.

Credit Cards

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

If you are planning to switch, look at cashback credit cards. You can find the latest 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 significantly. Especially when you always buy things on your credit card that you might otherwise pay for with cash or debit card.

So Should I Get a Cashback Card?

Only if you pay off your balance every month. 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 0% balance transfer offers are of no interest to you, so get a cashback card instead.

Current Accounts

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

You can transfer money to your savings at 4am in the morning. 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 complete home banking experience. (You can find out which is the best current account here)

Savings Accounts

A quick word about savings accounts. In the world of online banking it is no effort to hold accounts with different banks and move money between them. So don’t just accept the poor interest savings account your current bank offers. The interest rate could be vastly higher elsewhere. For the best savings account in UK check here.

In Conclusion

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

Technorati Tags: credit crisis, debt relief, debt management

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