- Virtual banking is also called internet banking, through which financial and banking services are accessed via internet's World Wide Web.
- It is called virtual banking because an internet bank has no boundaries of brick and mortar and it exists only on the internet.
- Internet based financial institution that offers deposit and withdrawal facilities, and other banking services, through automated teller machines or other devices, without having physical (brick and mortar) walk-in premises.
You can also see the below video to have a better understanding.
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