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Role of direct banks

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Direct banks (virtual bank) are banks that offer banking services without its own branch network.
They are subject to the same prudential rules, such as branch banks.

Organizationally, an online bank is defined as the sum of all systematic activities for the disposal
of banking services through direct communication channels. A virtual bank provides its
customers with remote banking services allowing them to work directly on their account 24
hours of the day.

In order to perform to open an account quickly and independently from the seat of the bank, the
post-ident procedure was introduced so that the new customer does not have to appear in
person at the bank.

These services, from legal point of view require the signature of a specific contract and release
in a sealed envelope to an access code, secret and personal. While from the human point of
view requires clients to overcome psychological obstacles, because the customer is
accustomed long personal contact with the tellers.

Banks tend to direct a growing share of customers to the operation of direct banking services,
because they involve lower costs. Therefore encourage their use by customers, especially when
it comes to internet banking, applying reduced commissions on trading in financial instruments
(trading online). And concerning transfers and other transactions that may be made without the
personal contact at the counter .

Cash management services

A particular application of corporate banking offered by banks required by some commercial
clients is the cash management service. This service allows the company to know exactly and
at any time the balance of their current accounts at various banks. Thus, enabling rapid transfer
of funds in order to avoid the simultaneous presence of debit balances in one or more banks (on
which interest charges are levied at high rates).

Products

The range of direct banking products can be comprehensive, or be confined to individual
product groups. In general, they include:

    * Current accounts
    * Securities trading (brokerage)
    * Investment (in the form of call money, time deposits and savings deposits)
    * Installment loans
    * Real Estate Financing

				
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