online banking

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online banking

Transacting business with a bank, savings & loan or other financial institution over the Internet rather than in person at a branch or drive-in location. Customers can view their account balances, transaction history and cancelled checks, as well as pay bills, transfer funds and apply for loans. Most banks offer online banking as an option, whereas a "virtual bank" has no physical branches and conducts all business online.

Mobile Banking
Mobile banking is online banking via smartphones and tablets. Using a dedicated mobile app, all transactions can be handled from any location worldwide. See mobile check deposit and virtual bank.
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References in periodicals archive ?
One example is online banks, who are more than happy to lend where traditional big banks won't.
retail deposit growth for the largest online banks has outpaced that of traditional branch-based banks over the course of the Federal Reserve's (Fed) five interest rate increases since December 2015.
Identify theft is a significant concern, but some online banks take this risk more seriously than others.
Worldwide, 60 countries have one or more domestic online banks.
Apart from informing users on the usefulness of online banking, banks should also continue to increase the features and services provided by their online banks. According to a banking study in Malaysia account balance inquiry, saving account, current account, summary report of transaction were rated as the most useful by online banking consumers, while services such as purchase or monitoring of unit trust and home mortgages are found to be non useful (Sulaiman et al., 2005).
In fact, growth in online banking customers at the top ten online banks surpasses overall internet growth.
Bankrate.com also notes that it's harder to make deposits at online banks. In most cases, they have to be mailed, which can be time consuming.
in 55% of US homes, and that online banks need to take action if they want to break these constraints.
Experts are warning that, besides disabling Microsoft's anti-spyware product, the Trojan horse also targets users of UK online banks such as Barclays, Cahoot Halifax, HSBC, Lloyds TSB, Nationwide, NatWest and Smile.
Jyllands-Posten, a Danish daily newspaper, carried out spot-checks of Danish online banks and found that 14 out of the 16 online banks tested did not provide enough information and failed to meet the newspaper's criteria.
Contrary to expectations, the Fed's tightening cycle thus far has accelerated growth in the deposits of online banks as the gap between interest rates offered by online banks and traditional banks has widened.
MONEY evaluated the largest 90 brick-and-mortar banks, 50 credit unions, and 15 online banks, as identified by bank consultancy firm Novantas.