Banking Term: Virtual Banking
Find important banking term that is useful in upcoming banking exam
- Virtual banking is also called internet banking, through which financial and banking services are accessed via internet's World Wide Web.
- It is called virtual banking because an internet bank has no boundaries of brick and mortar and it exists only on the internet.
- Internet based financial institution that offers deposit and withdrawal facilities, and other banking services, through automated teller machines or other devices, without having physical (brick and mortar) walk-in premises.