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Bank accounts glossary

Online banking

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.


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