Depending on your circumstances, there are several different types of internet savings account available, such as a fixed rate, instant access or a notice account.
With a simple internet savings account, customers are generally free to access their money whenever they wish, money can be managed on a 24 hour basis as long as the customer has an internet connection. Or, opt for an online fixed rate bond for higher returns and limited access.
As they are handled and run almost entirely online, many internet savings accounts are among the best for interest rates compared to many other types of savings account. While these types of accounts are quite accessible in many respects and allow customers to handle transfers, withdrawals and payments online, it should be remembered that entirely online savings accounts are not without their drawbacks.
Unlike many traditional types of savings account, it may not be possible for customers to simply walk into their branch and discuss their account with a representative. Instead, many internet savings accounts are handled through online or telephone customer services, which is why we have included links in our tables of the best saving account deals.