Online banking
Friday, 07 Apr 2006 00:00
Online banking, also known as internet banking, is the term used to describe bank accounts that can be accessed over the internet.
Generally internet or online banking allows the account-holder to make payments, amend direct debits and standing orders, and transfer funds by logging on to a bank's secure website.
Increasingly, banking services can also be accessed using a mobile phone - with WAP or via text message.
Some banks now operate solely online - and do not have branches in the UK at all. The only way to access these banks is through the internet.