By Tosif Patel

While there have been many changes to the banking industry over the last 20 years, some good, some bad, one element continues to attract the most debate - the lack of a personal touch.

Gone are the days when a customer of the bank could build up a relationship with their account manager, gone are the days when the bank would do loyal customers “a favour”. Everything now a days seems to be driven by predefined formulaes and risk assessment, taking out the human touch, and human understanding of a situation.

This seems to have affected the small business market the most, with many entrepreneurs experiencing a none contact relationship with their bankers. They appear to be just another number, another customer, and very often the banks will not have an in depth understanding of the business. Basic figures and balance sheets are fed into the banks main decision making systems, a risk assessment produced, and an instant often non-negotiable decision. No chat, no additional information required, a decision purely based on cold hard statistics.

While the non contact approach by many UK financial institutions has been pilloried by many, there are a number of people who would rather bank on line, and arrange additional finance online. They are very happy to be dealing with a automated system which can give an answer almost immediately, rather than go through the hassle of going into the bank and sitting down with an account manager - who very often has limited control to change or adapt any of the banks initial decisions.

Has Online Banking Assisted Banking Customers?

Without doubt the onset of online banking has been of great assistance to banking customers, whether personal or business accounts. As well as allowing people to receive decisions almost immediately, it has also allowed potential customers to “shop around” all over the country and apply to the most relevant financial institution online, wherever they may be based.

The ability to now monitor your accounts online has also offered great assistance in the fight against fraud and other financial crimes. Very often online checking has allowed customers to spot problems earlier than possible prior to online banking. As reported cases of fraud continue to grow, this online monitoring is becoming more and more essential.

While some still mourn the death of “personal” banking, and there is no doubt that it does have a place in the business community, overall the internet has offered the chance for quicker decisions on loan applications, etc and the ability to shop around.

All in all online banking has assisted in ensuring a more competitive attitude amongst the leading financial institutions, as niche market players enter the online market, looking to attack some of the traditional banking business.

Online Banking

UK Loans

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By Jennifer A. Thieme

If you haven't starting taking advantage of your bank's online services, you should! Online banking has many advantages over traditional banking:

1. Download Banking Transactions. You can download your banking transactions directly into your financial software as often as you like. If you use your ATM card often, this is a must, because it keeps your bank balance current in your financial software. You won't have to worry about keeping all those debit card receipts.

2. Download Credit Card Transactions. You can download credit card transactions directly into your financial software. Don't waste time entering credit card charges by hand - download them! This is probably one of the biggest advantages of online banking, since entering credit card transactions manually can be very time consuming.

3. Online Bill Payment. Online bill payment is easier and less expensive than generating and mailing a paper check. Your bank may offer free bill pay services - if so, this saves the expense of ordering checks and buying stamps. Checks will be generated and mailed by your bank at your authorization. Plus, the checks will have the vendor names directly on your bank statements, next to the amount of the check and check number. This is not true for traditional checks.

4. Quickly Verify Bank Balances. If you need to verify your bank account balance, just signin to your bank's online services. No more waiting for the bank statement, or calling the bank to get your balance. To get an accurate balance, take the bank's balance as shown online, subtract any outstanding checks, and add any outstanding deposits.

5. Quit Paying Bills. Use your vendor's auto-debit or auto-charge feature. Once established, your bill will be paid automatically through your bank or credit card account. This eliminates the step of manually paying the bill! Perfect for gas, electric, water, cable, phone, and other utility-type payments.

Save yourself time and money by taking advantage of online banking. Call your bank and credit card companies today to find out how to enroll in their online services.

Jennifer A. Thieme is a Certified QuickBooks ProAdvisor. Visit http://www.jenniferthieme.com to find out more about her services.

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By Matthew Keegan

You have seen their ads and you may have wondered if they are worth a second look. What am I talking about? Online banks! Also known as internet banks, these are financial institutions who provide the majority of their banking services over the internet. Typically, online banks offer consumers high savings rates, low loan rates, and a mix of other services. Let's look at 7 winners in this fast growing field:

1. E Trade Bank Part of E Trade Financial, the discount internet stockbroker. E Trade Bank offers checking accounts, money markets, and certificates of deposits as well as a VISA credit card.

2. Netbank Along with offering checking and money market accounts, Netbank provides mortgage and home equity lines of credit to customers. With tie-ins to affiliated companies Netbank also offers Auto, Homeowners, Condo/Co-op & Renters Insurance and Life, Health, Long Term Care & Dental Insurance.

3. Virtual Bank VirtualBank, a division of Lydian Private Bank, is a federally chartered bank regulated by the Office of Thrift Supervision. The bank offers checking, savings, and credit card services to customers.

4. Ever Bank This leading internet provider of banking services offers the most extensive, and varied services of any online institution. Ever Bank offers business and personal checking accounts, mortgages, home equity loans/lines of credit, reverse mortgages, a VISA credit card, and world currency accounts. This latter category is for investing in Deposit accounts and CDs denominated in any major world currency.

5. Emigrant Direct Part of Emigrant Savings Bank which traces its roots back to 1850 as a service provider to Irish immigrants. Emigrant has $10 billion in assets and more than $1 billion in net worth. It operates as a full service bank through 36 branches in the New York metropolitan area, and through EmigrantDirect.com. Emigrant offers only consumer services online; their high paying savings account is a chief investment vehicle.

6. ING Direct ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. ING offers mortgages, loans/lines of credit, savings accounts, certificates of deposit, and money market mutual funds through another division.

7. MetLife Bank Yes, MetLife. A division of insurance powerhouse Metropolitan Life, MetLife Bank offers savings accounts, certificates of deposit, money market accounts, mortgages, and IRAs to consumers.

If you are banking exclusively with a "brick and mortar" institution you may be missing out on high paying investment options or competitive loan rates that easily undercut many traditional banking entities. These online banking success stories are only part of a growing number of savvy providers, some of whom are definitely worth a closer look by you, the consumer.

Matt writes extensively about business, health, and web management issues when not managing his busy sites including the Corporate Flight Attendant Community at http://www.cabinmanagers.com

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