Most banks offer Internet banking services with a current account. You can't use Internet banking to pay in cheques or withdraw cash, but you can:
- view your balance(s) and recent transactions on screen
- print statements
- transfer money between accounts
- pay bills
- make payments to any other UK bank or building society account
- set up, view, amend, or cancel standing orders
- view direct debits
- order cheque books and other stationery
- send instructions to your bank via a secure e-mail system (which you should use instead of your normal e-mail).
At the time of writing, stand-alone Internet banks - such as cahoot, Intelligent Finance, smile, or the Internet account from First Direct - offer all these services but differ from the traditional banks' add-on Internet services in two important respects. They don't have branches, and they pass on - in the form of competitive rates of interest - the cost-savings gained from operating over the Internet. Up-to-date rates are given on the banks' Web sites, which also feature online demonstrations. All stand-alone Internet banks allow you to pay in cheques by post and withdraw cash through cash machines; some also use the Post Office. Check each for the particular services they offer.
