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:
“The most passionate, consistent, extreme and implacable enemy of the Enlightenment and ... all forms of rationalism ... was Johann Georg Hamann. His influence, direct and indirect, upon the romantic revolt against universalism and scientific method ... was considerable and perhaps crucial.”
—Isaiah Berlin (b. 1909)
“When women can support themselves, have entry to all the trades and professions, with a house of their own over their heads and a bank account, they will own their bodies and be dictators in the social realm.”
—Elizabeth Cady Stanton (1815–1902)