Online Banking Definition
In October 2001, Bank of America customers executed a record 3.1 million electronic bill payments, totaling more than $1 billion. As of 2017, the bank has 34 million active digital accounts, both online and mobile. In 2009, a report by Gartner Group estimated that 47% of United States adults and 30% in the United Kingdom bank online. The early 2000s saw the rise of the branch-less banks as internet only institutions. These internet-based banks incur lower overhead costs than their brick-and-mortar counterparts. In the United States, deposits at most direct banks are FDIC-insured and offer the same level of insurance protection as traditional banks. Retail Banking Type in at least the first 3 letters of the company's name you want to pay, the contact name or the nickname of your favourite transaction. It is very easy to search for popular or favourite transactions and contacts. Create favourite transactions to carry them out again at your convenience. So you get to pay less tha...