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
Famous quotes containing the words direct and/or bank:
“You see how this House of Commons has begun to verify all the ill prophecies that were made of it—low, vulgar, meddling with everything, assuming universal competency, and flattering every base passion—and sneering at everything noble refined and truly national. The direct tyranny will come on by and by, after it shall have gratified the multitude with the spoil and ruin of the old institutions of the land.”
—Samuel Taylor Coleridge (1772–1834)
“What’s breaking into a bank compared with founding a bank?”
—Bertolt Brecht (1898–1956)