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Standard Life Internet Banking
As an internet-only bank, Standard Life internet banking takes care of most account functions. Before we get to the practicalities, it's worth mentioning that they've made a big effort to cut jargon with a website called "life:outlined", one of the best Q&As we've seen. It includes a great jargon-buster, plenty of financial tools, downloadable guides to everything from making a will to selling your house, and actually is as impartial and blurb-free as it claims.
But back to Standard Life internet banking: you can apply online or by phone, and once in, the main functions are simple- you can examine statements or view just deposits, withdrawals or internal transfers. Remember, there's no current accounting, so the main functions are management of regular deposits (for savings and mortgages), and managing pooled accounts if you have that facility. And of course you can schedule payments and transfers ahead of time. A few quick caveats: cheques can take a whopping 8 days to clear; so be sure to plan your finances ahead! Also, you cannot transfer funds into bonds or ISA accounts. Security is industry-standard, but there is no online anti-fraud guarantee. So, the innovative pooling function might be of interest, but do check other online banks before putting in your cash!
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