Reality:
Online banks are known for their speed and convenience when it comes to regular banking, and this carries over to their loan approval process.
In spite of
online banks' recent progress, however, Fitch believes the trend could stall if traditional banks initiate more meaningful rate increases on savings accounts and CDs as the Fed implements further interest rate increases.
Online bank accounts are easy to set up and as a matter of fact, one can access his online account once he opens a traditional bank account in any local or foreign bank in Pakistan.
Vanessa checks their
online bank account regularly.
According to the consumer council (Forbrugerradet), it appears that
online banks do not, in several cases, follow good marketing manners.
"So far, deposit betas have been lower than expected for both online and traditional banks, but the betas for
online banks have started to move up more significantly in the past few months after virtually no movement following the first couple of rate hikes," said Michael Taiano, Director, Fitch.
BANKING AND CREDIT NEWS-October 26, 2017-Bank of Internet named best
online bank by MONEY
Ally established National
Online Bank Day in 2015 to emphasize the compelling value proposition of
online banks compared to traditional brick-and-mortar banks, and their alignment with trends in consumer banking.
Global Banking News-February 6, 2015--First Internet Bank named among the Best
Online BanksSome consumers opt to switch to
online banks such as Wingspan Bank.com (www.wingspanbank.com) because it offers them the convenience of banking at any time.
TELECOMWORLDWIRE-13 September 2000-Danish
online banks provide insufficient information -- report (C)1994-2000 M2 COMMUNICATIONS LTD http://www.m2.com
To honor the occasion, Ally Bank has declared the second Monday in October National
Online Bank Day to promote awareness of the benefits of
online banks.