Online savings accounts

Wednesday, 22 November 2006 03:25

Online savings accounts are accounts held by banks or building societies into which people can deposit money and receive interest payments which can be managed over the internet.

Rates of interest paid on online savings accounts can vary widely between providers, although online savings accounts typically provide a higher rate of interest than more traditional savings accounts.

Online savings accounts typically allow the investor to check their balance, and make payments and withdrawals electronically over the internet.

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