What is an Electronic Bank or E-Bank? | Faydety

What is an Electronic Bank or E-Bank?

Publish Date: in Finance101

What is an Electronic Bank or E-Bank?

When you will need to enter an E-Bank branch?

“Electronic branch! You can open an account, cash a cheque, deposit, or transfer money, and if you have an issue you can perform a video call with a customer service representative”

 

This statement grabbed all of our attention in the ads for the first “Electronic Service Branch” and we felt like we were transported to the future. 

 

These branches are enabled with video calling to allow customers to speak to bank employees directly.

 

But what is an E-Bank?

 

E-Banks are actually branches of banks that are fully digitally automated to perform all typical branch services without employees on-site through ATMs & ITMs. But these branches are also enabled with video calling to allow customers to speak to bank employees directly if they have any issues.

 

Here's a list of services that you can perform in the E-Branch:

 

  • Open an account
  • Checking your account balances
  • Withdrawing funds
  • Depositing funds
  • Transferring of funds
  • Applying for some banking services through an E-Form
  • Depositing checks and cashing them out as well
  • Exchanging currency
  • Requesting checkbooks
  • Payment of certain bills
  • etc.



The E-Branches also operate all days of the week from 10 am to 10 pm.