TeleBank is first branchless bank with more than 50,000 accounts

TeleBank is first branchless bank with more than 50,000 accounts
Tags: Bank / Credit Union
February 24, 2002

ARLINGTON, Va.-- TeleBank, America's first and largest "branchless" bank, has surpassed the threshold of 50,000 accounts.

TeleBank first eliminated brick and mortar in 1989, cutting operating costs by more than half, and passing the savings back to customers in the form of premium deposit rates and no or low account fees. At TeleBank, customers may use the Internet, telephone, fax and ATMs.