Whois & Analysis for bankwithmutual.com

Online banking, also known as internet banking, e-banking or virtual banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website.

The online banking system will typically connect to or be part of the core banking system operated by a bank and is in contrast to branch banking which was the traditional way customers accessed banking services.

Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a mobile phone or tablet.

It uses software, usually called an app, provided by the financial institution for the purpose.

Mobile banking is usually available on a 24-hour basis.

Some financial institutions have restrictions on which accounts may be accessed through mobile banking, as well as a limit on the amount that can be transacted.

A mortgage loan, also referred to as a mortgage, is used either by purchasers of real property to raise funds to buy real estate; or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged.

The loan is "secured" on the borrower's property.

This means that a legal mechanism is put in place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event that the borrower defaults on the loan or otherwise fails to abide by its terms.

The word mortgage is derived from a "Law French" term used by English lawyers in the Middle Ages meaning "death pledge", and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.

A transaction account, checking account, current account or demand deposit account is a deposit account held at a bank or other financial institution.

It is available to the account owner "on demand" and is available for frequent and immediate access by the account owner or to others as the account owner may direct.

Access may be in a variety of ways, such as cash withdrawals, use of cheques and debit by electronic transfer.

In economic terms, the funds held in a transaction account are regarded as liquid funds and in accounting terms they are considered as cash.

A savings account is a deposit account held at a retail bank that pays interest but cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing a cheque).

These accounts let customers set aside a portion of their liquid assets while earning a monetary return.

In some jurisdictions, deposits in savings accounts do not incur reserve requirements.