What is electronic banking? - II

Technology has made it possible to bank from the comfort of your own home. Banks offer software packages that allow customers to debit or credit their accounts, check their account balances, or even apply for a loan. Consumers can make these transactions online.
There are even “virtual banks” that have no physical bank office in a traditional way. They provide all of their services to their customers over the internet.
For more information on internet banking, check out What You Should Know About Internet Banking on the Federal Reserve Bank of Chicago web site: http://chicagofed.org/consumer_information/what_you_ should_know_about_internet_banking.cfm
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