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This comparison simply includes all savings accounts.

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 4.45%

Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)

Investec Savings
Online Flexi Saver Investec Savings
Min deposit £5000
Term Instant Access
Interest AER 4.40%

Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Yorkshire Building Society
Easy Access Saver Yorkshire Building Society
Min deposit £1
Term Instant Access
Interest AER 4.35%

Why we like it: Save from £1. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £500,000. Open and manage account online. FSCS Protected. Must be UK resident. Must be aged 16 or older

Hampshire Trust Bank
Online Easy Access Account Hampshire Trust Bank
Min deposit £1
Term Instant Access
Interest AER 4.15%

Why we like it: Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older

Post Office
Online Saver Account Post Office
Min deposit £1
Term Instant Access
Interest AER 4.10%

Why we like it: Choose monthly or annual interest payments. Unlimited deposits and withdrawals. 24/7 access to your savings. Open and manage online. After 12 months the rate will revert to the underlying rate, currently 1.45% gross/AER variable. Post Office Online Saver is provided by Bank of Ireland UK. Must be UK resident. Must be aged 18 or older. FSCS protected

RCI Bank
95 Day Notice Account RCI Bank
Min deposit £1000
Term 95 Day Notice
Interest AER 4.90%

Why we like it: Unlimited withdrawals subject to 95 days notice.

OakNorth
Base Rate Tracker 95 Day Notice Account OakNorth
Min deposit £1
Term 95 Day Notice
Interest AER 4.89%

Why we like it: The interest rate tracks the Bank of England (BoE) Base Rate. Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. Open and manage account online. Your eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme. The maximum deposit you may pay into any one OakNorth Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with OakNorth Bank across multiple accounts is also £500,000. Unlimited withdrawals, subject to 95 days notice. Available to individuals, aged 18 or over, who are UK residents

Investec Savings
90 Day Notice Account Investec Savings
Min deposit £5000
Term 90 Day Notice
Interest AER 4.84%

Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account

RCI Bank
E-Volve 14 Day Notice Account RCI Bank
Min deposit £1000
Term 14 Day Notice
Interest AER 4.55%

Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Chip
Easy Access Saver Account Chip
Min deposit £1
Term Easy Access
Interest AER Up to 4.50%

Why we like it: 3 penalty-free withdrawals in a 12 month period. 3.82% AER (variable tracker) + 0.68% AER 12 month boost. 3.75% gross variable tracker. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. After 3 withdrawals within a 12 month period the rate will revert to either 3.40% AER (variable tracker with boost applied) or 2.72% AER (variable tracker) for the remainder of the 12 month period since opening the account. Must be UK resident. Must be aged 18 or older

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 9 Months
Interest AER 4.65%

Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected

Investec Savings
Fixed Rate Bond Investec Savings
Min deposit £5000
Term 1 Year
Interest AER 4.50%

Why we like it: Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must have a UK residential address and be aged 18 or older. No withdrawals permitted

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How to open a bank account online

Are you wondering what steps you need to open a bank account online? If so, read on. Opening a bank account online is easier than you might think. In fact, you can get an online bank account up and running in a very short time frame.

What can I do with an online current account?

Online current accounts let you complete a range of everyday transactions without visiting a physical branch. These activities can include making payments to companies and individuals, checking your balance and sending funds from one of your accounts to another. As long as you have an internet connection, you can manage your online current account from anywhere. The vast majority of banks and building societies allow you to use online banking these days. You can also open accounts with many banks that don’t have brick-and-mortar branches.

How do I open a current account online?

It only takes a few moments to open an online bank account. You’ll normally need to go to the bank’s website and complete an application form. The bank will need personal details like your name, age and address. You will also need to provide proof of ID, such as a copy of your driving licence and a recent utility bill. Once you have been approved, you can maintain the account online. Some banks may ask you for details like your income and occupation so they can offer other relevant services to you.

How do I find the right online banking service?

When you’re considering opening an online bank account, you need to find out if there is a fee to pay. There may be other requirements you need to fulfil to qualify, such as paying in a specific amount each month. Find out whether there’s an overdraft facility and what the interest rate is if you do go overdrawn. You should also find out whether you can earn interest on your balance and how much you’ll be paid. Some accounts come with extra features like breakdown cover and travel insurance.

What kind of features do digital bank accounts offer?

Banks with no physical branches are known as ‘digital banks’. Most or all of your banking activities can be completed via an app on your phone, including setting up standing orders. With these services, you’ll be sent notifications that alert you to any spending activity such as a card payment. Some of these services allow you to set aside specific sums for savings and to withdraw cash overseas without being charged a fee. T&Cs apply when you sign up for any banking service, so it’s always worth reading these before you sign up for an account.

A range of online banking options

There are many options available to you whether you’re interested in internet banking only, opening a student account, savings accounts, or if you want to switch your current account. Many banks will give you an overdraft if you have a good credit rating, but avoid going over your arranged overdraft limit as fees can be high. Overdrafts are often repayable on demand. Many surveys into online banking have been carried out over recent years. The results represent the view that more and more people are choosing to manage their money online.




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