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virtual bank
(redirected from Online bank)

    Also found in: Financial, Wikipedia 0.01 sec.
virtual bank
A bank that handles all financial transactions via the Web, e-mail and telephone, with deposits made by regular mail or wire transfer. By not having the overhead of physical branches, the online bank is expected to offer a greater yield.
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An online bank can offer you the same amount of security as a brick and mortar bank with a lot less paper, but the list of services varies.
Are You Ready for the Benefits of Online Banking? by Tim B Smith / Computers and Internet community
An online bank is never closed, except for perhaps one hour in the middle of the night for data processing.
How To Do Online Banking by E-PersonalFinance.com / E-PersonalFinance.com
Also without the extra costs associated with a brick and mortar building, an online bank is able to offer better interest rates and remain competitive.
Get More Flexibility and 24 Hour Access with Online Banking by Gregg Hall / Banking, finance and accounting community
 
 
 
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