Saving online via internet.

What should I pay attention to when saving online?

What should I pay attention to when saving online?

Internet saving is saving on a savings account that you can manage completely via the internet. This means that you can view your savings balance online, but you can also deposit, withdraw and transfer money online. Nowadays almost all savings accounts offer this option, which means that internet savings accounts are also referred to simply as savings accounts.

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Many people find the great convenience of an internet savings account that you can arrange everything yourself at home from behind your computer. Because an internet savings account is in fact self-service without the intervention of a bank employee, it reduces the transaction costs for the bank. For that reason, you usually receive a higher savings interest on the money in an internet savings account than if you opted for a regular savings account.

Save the highest interest on the internet

Save the highest interest on the internet

As with other savings products, the interest rates for internet savings differ between the different providers. By closing an internet savings account with the highest savings rate, you can achieve a good return on your savings.

Compare internet saving

Compare internet saving

When comparing internet savings, make sure you compare the correct internet savings accounts. For example, there are internet savings accounts with and internet savings accounts without restrictive conditions. An example of such a limiting condition is that a minimum amount must be deposited into the savings account every month. It is also possible that a minimum balance is required. If you opt for an internet savings account with one or more restrictive conditions, you will usually receive a slightly higher interest on your savings balance than with an internet savings account that does not contain any restrictive conditions. This is because the bank then has more or more certainty about the balance in the savings account.

An internet savings account is especially useful for people who want to be able to transfer money quickly from and to their savings account. By means of internet banking you can make direct contact with the bank and manage the internet savings account directly. Transfers to and from accounts with the same bank are usually arranged within a few minutes.

Advantages of internet saving

Advantages of internet saving

  • Higher interest payment than a savings account that can be managed without internet
  • Arrange all banking matters (withdrawing, depositing, transferring) yourself via the internet
  • A flexible way of saving because transfers are often made directly and are credited a few minutes later

Cons internet saving

Cons internet saving

  • Transferring money is very easy, so you can quickly be tempted to withdraw money from your savings account
  • Less suitable for people who are not used to using the computer / internet.

You compare the largest selection of savings accounts on BacS?  This way you will certainly find the savings account with the highest interest and best conditions. Growing your savings becomes very easy! 

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