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More and more of us are now looking to manage our banking online.

Whether you're looking to take up your existing bank's offer of online banking or considering switching to an internet-only bank, our ten-minute tutor will help you decide what's right for you.

Before you begin: Get your priorities straight
Ask yourself what are the key things you most want from online banking, and try to put them in order of priority. Is convenience important, or are you simply after the best interest rate? Are there any issues that worry you?

Step 1: Weigh up the pros and cons
The main advantages of online banking are:
- Longer opening hours. Rather than having to rush to the bank during opening hours, you can do your banking when it's convenient. Remember that the bank's working hours are still the same, however, so any transactions you make in the evening or at weekends won't actually be processed until the next working day
- Easier bill payments. You can pay your bills online rather than sending cheques through the post, and you should be able to set up standing orders too
- Easier one-off payments. Instead of having to write or send cheques, you can transfer money to other people's accounts online
- Higher interest on credit balances. Many online accounts offer higher-than-normal interest rates when you're in credit

On the other hand:
- No home branch. If you're used to visiting your branch regularly, bear in mind that your only contact with an online bank will be over the phone or through a website
- You need reliable internet access to a secure connection
- You need to take computer security seriously
- Possible statement charges. Some online banks may charge you for paper copies or older statements

Step 2: Check your technical setup
Think about where you'll normally be when you use an online account. If your main access to the internet is at home, are you happy with your connection's reliability and speed? If it's at work or on a shared computer elsewhere, you'll need to be even more careful about security.

Step 3: Security. Learn the basics
Many people are put off banking online by security fears. In fact, most security breaches are due not to technical problems but to people being conned into revealing password details by a clever fake email or phone call.

Here's what you need to remember:
- A genuine bank will never send you an email asking you to confirm your password. This is a tactic used only by fraudsters
- If you're in any doubt about whether an email or other contact from your bank is genuine, get in touch with them and check before revealing any personal information
- Never write your password or PIN down, and don't use the same password for other websites as you do for your banking
- Don't open attachments to emails unless you know and trust the sender. It's possible that opening up a rogue attachment could install software on your computer that captures passwords and user details
- Update your computer's internet software when new versions come out
- Wireless internet connections are more exposed to attack, so make sure security is properly set up

Step 4: Security. Checking you're on a secure website
Despite common worries, the technology used by online banks actually makes it very difficult for your account details to be discovered by fraudsters. There are two ways of knowing when youre on a secure website:
- You'll see a locked padlock or an unbroken key icon in the bottom right of your browser
- The web address will begin with 'https', not 'http' (the 's' is for 'secure')

You'll usually see both these signs after entering your username and password, meaning your connection to the bank is secure and confidential. Always remember to sign out when you've finished.

Step 5: Try it out with your existing account
Many normal bank accounts now allow you to do some account management online. Try managing your existing account online before deciding whether switching to a web-only account would suit you.

To find out about setting this up, give your bank a call or visit its website.

Step 6: Search out a better deal
If you're comfortable managing your current account online, the next step is to see if you can find a better deal with a web-only current account.