Suddenly, online banks and credit unions are popping up all over the Internet. All of them offer the convenience of banking from home at odd hours, while some offer a wide range of additional products, including investment management, insurance and more.
Electronic banking seems to be the wave of the future.
There are several types of online banking available today. Most banks will also allow you to set up a bill-paying schedule for regular monthly expenses such as mortgage and car loan. A slightly more sophisticated version of this kind of service allows you to conduct basic banking business through a web site. The second kind of online bank offers a full range of Web-based services including loan transactions, investment support, and even insurance sales. Virtual banks, like NetBank and CompuBank, are a new concept.