Is it a bank that allows customers to open accounts and conduct all banking operations via the Internet, mail and phone, without ever visiting a bank office?
Is it a bank whose customers are predominantly located a great distance from bank office(s), can open accounts and conduct all banking operations via the Internet, mail and phone?
If we accept the first definition, we should list big nationwide banks like Bank of America, Citibank, Chase, etc as internet banks.
If we accept the second definition, we should list only 30-40 banks (like Netbank, Principal Bank, etc) as internet banks.
Since most, if not all, so-called internet banks have B&M offices these days and many B&M banks have online banking and offer their accounts nationwide, I believe, we need to re-think what banks we call "internet banks" or "online banks".
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What is an "internet bank"?
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