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Virtual Bank
(redirected from Internet-only bank)

   Also found in: Encyclopedia, Wikipedia 0.02 sec.
Virtual Bank
A bank that offers services predominately or exclusively over the Internet. A virtual bank offers normal banking services, including access to one's checking and savings accounts and personal and business loans. Even non-virtual banks almost always offer virtual banking services.

Virtual bank. A virtual bank offers of some or all the same types of accounts and services that traditional bricks-and-mortar banks do, but virtual banks exist only online. They typically charge lower fees and pay higher interest because of low overhead.

Virtual bank transactions can be checked in real time, as they happen, rather than at the end of the banking day or the end of the month -- though those services may also be available through the online branches of traditional banks.

Virtual banks don't have branches or own ATM machines, so you make deposits electronically or by mail. Your virtual bank may reimburse your ATM fees for using other banks' machines. However, there may be a limit to the number of transactions a virtual bank will cover each month.



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ALTHOUGH most banks offer internet access, if you are planning to organise your all finances online you may find that internet-only banks are more efficient.
Japan Net Bank, set up in October 2000 as Japan's first Internet-only bank, had the largest number of accounts, at about 400,000, among the four banks as of the end of September this year.
Upon gaining the formal license, the new Internet-only bank is expected to open for business in July, bank officials said.
 
 
Internet-Based Computer-Aided Design
Internet-Based Courseware
Internet-Based Distributed Navigation
Internet-Based Glucose Monitoring System
Internet-Based Information Systems
Internet-Based Medical Archive System
Internet-Based Neighbourhood Information Systems
Internet-based payment service
Internet-based Prior Learning Assessment and Recognition
Internet-Based Services Policy
Internet-based technology
Internet-based telephony
Internet-based telephony
Internet-based telephony
Internet-Based Test
Internet-Based Training
Internet-Draft
Internet-Draft
Internet-Facing Deployment
Internet-Guided Offline Recreation
Internet-High Speed Packet Access
Internet-Hosted Octet Stream Service
Internet-Intranet Input Method Protocol
Internet-Intranet Transport Service
Internet-journalism
Internet-journalism
Internet-Käyttäjät Ikuisesti
Internet-Mediated Communities of Practice
Internet-only bank
Internet-Only Manual
Internet-Ready Computer System
Internet-related prefixes
Internet-related prefixes
Internet-Scale Event and Attack Generation Environment
Internet-Scale Event Notification Service
Internet-Site for European Strong-Motion Data
Internet/Intranet Input Method
Internet/Intranet Strategic Team
Internet/Network Deamon
Internet2
Internet2 Distributed Storage Infrastructure
Internet2 Middleware Initiative
Internet2 Technology Evaluation Center
InternetCash
Internetese
Internetexplorer
Internetexplorer
Internetowa Baza Infrastruktury Kolejowej
Internetowa Liturgia Godzin
Internetowa Partia Ludzi Normalnych
Internetowe Centra Informacji Multimedialnej
Internetowe Forum Policyjne
Internetowy Dom Maklerski S.A.
Internetowy Klub Alfa Romeo
Internetowy Klub Nauczycielek Przedszkola
 
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