Internet Banking

Internet banking often referred to as online banking is a relatively new phenomenon for personal banking customers, although electronic banking and access to on-line bank services has been available to corporations and business banking customers for many years through a number of different service providers.

The accepted definition of online banking relates to accessing account details, information, making transactions and other normal banking facilities through the use of a home computer or other electronic device which is connected via a network to the bank.

Internet banks such as smile, which is part of the co-operative bank don't have branches and can therefore pass those savings onto customers in the form of higher interest rates and lower charges.