Many allow for file transfer between their program and popular accounting software packages. Most charge setup and monthly fees, but a few have waived all fees. More advanced plans also allow customers to apply for loans, trade stocks and mutual funds and view images of checks and deposits. There are some advantages to online banking versus using pre-packaged software.
Online banking is easier to use, portable and often cheaper.
However, it is sometimes less versatile and comes with fewer features. Transactions are executed and confirmed quickly, although not instantaneously, the processing time is comparable to an ATM transaction. A bank that operates completely online with no brick and mortar history. Compubank was the first virtual online bank, check out their FAQ's for more information. They also offer competitive CD rates, ATM fee credits and free accounts.