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Online banking refers to banking services where depositors can manage more aspects of their accounts over the Internet, rather than visiting a branch or using the telephone. Online banking typically is comprised of a secure connection to banking information through the depositor’s home computer or another device.
Online banking offers several main benefits to depositors. It provides a real-time view of finances and eliminates the need for numerous visits to a bank teller. It can also take the place of balancing a checkbook and other tedious tasks common to paper-based banking. Depositors can monitor each transaction in an accessible user interface to understand how credits, deposits, deductions and payments affect their account's balance.
Banks that offer online banking are sometimes called "brick-to-click." Many of these banks still provide branch services but support online options. This distinguishes them from brick-and-mortar banks, which offer no online services. Brick-and-mortar banks are becoming extremely rare in the age of digital transactions, and most banks have begun moving a number of customer interactions to the Web.