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:
“In Europe life is histrionic and dramatized, and ... in America, except when it is trying to be European, it is direct and sincere.”
—William Dean Howells (1837–1920)
“That strain again, it had a dying fall;
O, it came o’er my ear like the sweet sound
That breathes upon a bank of violets,
Stealing and giving odor. Enough, no more,
‘Tis not so sweet now as it was before.”
—William Shakespeare (1564–1616)