4.3 Managing your money online

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A laptop with the screen displaying the words ‘Online Banking’.

Online banking (also known as internet banking) enables you to carry out banking tasks without having to physically go to the bank. If you have a bank or building society account, you can register for online banking. This allows you to access your account and carry out financial transactions using your smartphone, tablet or computer.

All established banks and building societies in the UK offer online banking services. You can set up payments for bills, transfer money, view recent transactions and check your account balance. Most of the tasks that can be done in a physical branch can be done electronically. Many banks also let you do your online banking through mobile apps and on their website.

Your bank will give you information on how to sign up for online banking. While online banking is broadly the same for all banks, additional rules and procedures may vary from one bank to the next. Most online banking pages include a help or FAQ section to resolve your queries. If you are in doubt about how to sign up for online banking or how to use it, there will be advisors available in your local bank branch who can help you.

Guide: Online banking

Watch this short video “Internet Banking Explained”. You can turn on captions by clicking on the subtitles icon in the bottom right corner of the video.

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