A direct bank is a bank without any branch network. It offers its financial services by:
- Telephone banking
- Online banking
- Automated teller machines (often through interbank network alliances)
- Mail banking
- Mobile banking
By eliminating the costs associated with bank branches, direct banks may offer higher interest rates and lower service charges on their products than their traditional competitors.
Read more about Direct Bank: History, Noteworthy Direct Banks Around The World
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