Online savings accounts offer a better rate of interest and allow regular access, one expert says.
Jason Clarke, spokesperson for Halifax, said: "Because they are online savings accounts, banks and building societies will give you a better rate because it costs them less to run those accounts and they pass that on to the customers."
However, Mr Clarke said the decision on what kind of savings account to go for should depend on why they wanted to save.
For long-term savings fixed-rate accounts were best, a regular savings account would suit anyone saving towards a specific goal, whereas an online account, with its easy access, would suit an emergency fund, Mr Clarke added.
He went on to say that people should have a mix of different kinds of accounts to ensure they had all the bases covered.
According to Apacs the number of people in the UK using online banking increased by 174 per cent between 2001 and 2006.
Online savings accounts offer easy access, expert says
Online savings accounts offer easy access, expert says
Mon, 11 Feb 2008
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