I can imagine that many readers will have concerns about conducting the majority of their banking from the Internet, and the purpose of this op is to show you how much more convenient, quick, easy, and safe Internet banking can be, with NatWest.
>> SIGNING UP <<
This was actually a lot easier than I was expecting. To sign up for Internet banking with NatWest, you (obviously) need a NatWest current account – I have a “Card Plus” account which gives users the use of a Solo card (see my other op on this). Then, go to www.natwest.com and click on “Info + Apply” in the top right corner.
From this page you need to click on the link to download an application form, which then needs to be filled in and returned to NatWest. They then send you a letter, containing a customer number, which you need to use to log in to the site. Then, the first time you log in, you set up a password and a four digit PIN number. These three bits of info should be kept secret – you need to use them every time you log into the site.
A useful security feature that the site has is that it displays the date and time when you last logged onto your account. It then says that if the date or time look suspicious then you should call a phone number so that it can be investigated.
>> WHAT YOU CAN DO ONLINE <<
Well, if you’ve found the setting up a bit of a struggle, you will be impressed by what you can do when you’re logged in and ready to go.
When you log on, you are immediately shown your account balance, and a mini-statement (showing the same thing as when you get one out of the ATM machine). There are then five menus down the left hand side of the window:
* Account Info
This is the menu that your mini-statement is found under, and if you want you can also see a full statement for any time period. There is also a button for you to download your statements to your computer.
A handy feature here is the transaction search – this displays a list of recent account transactions, but you can then search through all of them under three criteria – Account (if you have multiple accounts with NatWest); Transaction Type; and Period (you enter here the dates when you think the transaction occurred).
If you have a credit card you can also view its details under this menu – this tells you the account balance and available funds.
* Manage Money
This menu will probably be used the most. From here you can transfer money between two NatWest accounts, or set up a third party payment to another account. For this you need to know the account number and sort code, but it is very easy to set up.
You can also see a list of all of your current direct debits that you have going in the account – details include: Payee; Reference; Status; Last Payment; and Amount. You can view more details about each direct debit that you have, or cancel it from the site.
Another useful feature of the site is the ability to set up and change standing orders – the process involved in setting one up is very simple and logical, not to mention quick. As with the directdebit information, you can see a list of standing orders you currently have in your account.
There is also a simple financial planner that you can use online. This basically calculates your projected balance in one month’s time, based on information that you input (such as expected income, cheques written, etc) and money it deducts for standing orders, direct debits, and regular third party payments. This could be fairly useful for a quick idea of the state your finances are in, but is not really detailed enough for anything more than this.
It is form this menu that you can change your PIN number and Password, or order a new paying in/cheque book if you have not yet received one automatically. You can also activate any new cards that you may have.
* Exit
Click here to exit the online banking site.
>> SECURITY <<
Well, I have already talked about the password and PIN number, but to ensure that the site is safe, it uses a secure connection, and will time out automatically after a few minutes of non-use, after which you will be required to log back in.
There is also second level authorisation required for anything that will involve money leaving the account – so the details will be needed again for this.
Although it can get a bit tiresome having to input your details every time you want to use the site, I certainly feel confident about using NatWest Online Banking, and believe it to be very secure.
>> CONCLUSION <<
Although it does take a minute or two to set up, and you need to have your details at hand whenever you use the site, I think it is well worth signing up for if you have Internet access and a NatWest current account. It is certainly more convenient than catching a bus into town and banking the old-fashioned way.
Compared to other online banking services that I have used, it certainly does well, and you can carry out a large range of features from the site. It costs nothing to register for it so why not give it a try!?
Advantages: Time saving,instant access and availability Disadvantages: Unable to transfer monies from all types of accounts including international payments
Advantages: Great online banking, good bonuses with student account, problems dealt with perfectly Disadvantages: Problems with Maestro card, long queues at peak times, not all branches have extended opening
rugbyleaguefan 11.10.2009 (11.10.2009)
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