A CDE Definition
See virtual bank.
A financial institution that handles all transactions via the Web, email, mobile check deposit and ATM machines. By not having the overhead of physical branches, people expect a virtual bank to offer higher interest rates on their accounts.
All transactions in a virtual bank are handled entirely online, whereas "online banking" is an Internet-based option offered by regular banks. See mobile check deposit and online banking.
Before/After Your Search Term
Terms By Topic
Click any of the following categories for a list of fundamental terms.