Feb
As many are aware, bank accounts can now be opened and managed without ever visiting a bank branch. Almost any account can be set up online, and today there is no shortage of choices when it comes to online savings accounts.
For those who are unfamiliar with the process of online banking and investing, the following information should be enough to get you started.
The first step in getting started with online savings is finding the right account. There are many websites that list these accounts and will compare interest rates, fees, and minimum balances. One such website for companies in the UK is Find.co.uk. Here you can not only look up savings accounts, but there are resources available if you are searching for information on anything financial (credit cards, mortgages ect.).
For a wider search, FiveCentNickel.com is an excellent resource for comparing savings interest rates. Located in their savings section is a “Money Rates” tool where users can type in the amount they will be investing and the tool will compute a list of savings accounts along with their interest rates. It is important to find an account with an interest rate comparable to inflation (typically 3%).
Accounts like these are easy to open, usually requiring contact information, a national insurance number, and bank account information for transfers. The first step is to visit the company’s website. Near the top there will be a link that says “Open New Account.” Click on this link and the site should take you step by step through the entire process.
Look for a company with a website that is easy to navigate, has good interest rates, and minimal fees. This won’t be difficult to find, and with a bit of research anyone can use the web to begin saving for the future.
