What is online banking?

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I am a draftsman attempting to wrap my head round business banking. Everything seems to be online, but I have no clue how online banking even works. I’m not living under a rock, and I know how to use the internet. But is online banking safe? And how does it usually work?

Answers

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Online banking allows you to access your bank account securely online. You can transfer money, pay bills, set up direct debits and standing orders, view and download bank statements, and carry out a host of other tasks. Pretty much everything you can do in branch, you can do online.

Online banking is just as secure as dealing with a teller in a branch or on the telephone - you need to enter certain details to access your account, including a unique username and password, so no one can access your account without these details.

If you need help setting up internet banking, you can contact your bank and they will take you through the process. Once it is set up, you’ll be an expert in no time!

a year ago
 

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