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Telephone Banking
Our Online Bank Buys *
| Rate (AER) | Minimum Balance | ||
|---|---|---|---|
| A & L | 8.50% | £1 |  |
| HSBC | 6.00% | £1 | |
| A & L | 1.00% | £1 | |
| First Direct | 0.00% | £1 | |
| * Based on £500 Credit and is a limited guide to the market | |||
Sometimes referred to as 'telebanking', this is a service which provides customers with banking facilities from their home or office using the telephone. The main advantage is convenience, in that balances can be sought and transactions made without the need to visit a branch.
The services were pioneered for the mass market by first direct in 1989. Other providers active in the market in the early days included Girobank and Save & Prosper.
Last Updated: May 2008 © Moneyextra.com
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