Online banking and its benefits

It’s easy and convenient to take control of your money with online banking. Having all the important stuff there on your laptop or phone means you can check-in regularly to ensure your cash flow doesn’t run away from you.

How do I set up and access my online banking?

Contact your bank either instore or via their website to set up online banking. Once you’re set up, you’ll then be able to access your accounts either through your computer or phone.

There are also a number of banks that exist purely online and have very simple and user-friendly online banking services. Revolut and Monzo are two great examples of this.

Is online banking safe?

Yes. Just make sure you don’t share your login details with anyone, even if you’re asked on a phone call – your real bank will never ask for this. If you’re setting up online banking on a smartphone with a fingerprint scanner or face ID, you will also have the option of using them as your login. But if you don’t have those facilities don’t worry, you’ll still be able to use secure passwords.

What are the benefits of online banking?

• Access to your account whenever you need it: You’ll have 24/7 access to your account even when the branches are shut.
• Keep an eye on your spending: View an up-to-date balance and see any previous transactions or pending payments.
• Make or change standing orders: Transfer money to someone else’s bank account or amend a direct debit from the comfort of your home.
• Manage your bills: Keeping an eye your regular outgoings will help ensure you never miss a payment.
• Move money between accounts: It’s easier than ever to add to your savings account or ISA.
• Set savings goals: Some banks let you set goals to help keep you motivated to continue saving.
• Apply for other banking services: Apply for a credit card, savings account or a loan from your online dashboard. You can even amend your overdraft facility.
• Collect spare change: Some banks, like Revolut allow you to save the change from your transactions e.g. If something costs £34.71, the bank will round it up to £35, depositing the 29p into your savings pot.

So you see, online banking is simple and easy to use. Plus, it should help you get control of what you spend and what you save, after all, every penny counts.

To kick-start your savings, why not invest in a great value 30GB SIM from SMARTY for just £10 a month? That’s all the data you need for less.