Online-only banks setting new standard in banking sector 

Online banks, called eWallets, are becoming more and more popular as a way to make financial transactions rather than using the typical banking sector. There are several reasons why this is the case from the ease of use to lower fees and safety issues and faster transactions. 

The digital world is here, as is digital banking, which is why more people are using online banking methods. Ewallet options such as Revolut and n22, just to name a couple, are pushing out old school banks and that trend is likely to continue. This is especially the case when it comes to the iGaming industry with all the advantages of using eWallets at online gaming sites. 

There are no lack of options when it comes to choosing an eWallet – with some of the more popular ones being Neteller, Skrill, Revolut, n22, and EcoPayz to just name a few. These eWallet-like banking solutions are frequently reviewed and covered by EwalletVIP.

Convenience 

Many people are using eWallets these days with the convenience it affords them. When you have an eWallet you are not carryout around physical cards, and you can make payments at retailers both in-person and online. It is much easier to take care of any financial transaction using an eWallet simply tap your mobile phone to a payment receptacle, or have your mobile device scanned and the transaction is complete. Not only are eWallets an easy way to take care of a financial transaction but it is also easy to set up an account, transfer money, and top-up your account. 

Having an eWallet is also much more convenient if you are traveling. There is no need to carry cash around or physical cards and this is not only more convenient for you but also safer. The world of iGaming has also taken to eWallets as a go-to method for making deposits and withdrawals at online gaming sites. The ease of use, instant processing times, security, and lower fees make using eWallet at gaming sites very popular these days and this is especially the case since most online gaming sites accept eWallets as a banking method. 

EWallets are safe and secure 

Using eWallets to take care of financial transactions is very secure and safe. When you have an eWallet account the data that is stored is encrypted, which means that when you make a transaction the card account numbers are not transmitted. Random payment codes are used in a transaction and never used again and to go further your card account number is not fully shown when using an eWallet, which means nobody can take the number to use for a fraudulent transaction. 

When you carry cash, credit cards, or debit cards there is more of a risk of theft as well as loss. right away a person could use these things to purchase things at retail stores On top of that you will have to cancel the cards and re-order them to have them sent to you and that can be a hassle, as it takes time. If you have an eWallet it takes those situations out of the equation because of the multi-factor authentication process With eWallets there will be such things as security questions, your security PIN, or getting a onetime-password sent to you via SMS to get into your account, so prying eyes will not be able to access your account or your information. 

Also, in terms of security virtually all eWallets will have a freeze option where you can freeze your account and it cannot be used. Only you can unfreeze it using the security measures just mentioned and this is a very good option when you are traveling, or your phone is not with you. 

Lower fees 

It seems like banks always love to tack on fees from everything from ATM withdrawals and transfer fees to FX fees and yearly fees. One of the main advantages of using an eWallet is that there are few or no fees when it comes to transactions. For example, for virtually all eWallets there is no fee for transferring money to another user of that eWallet no matter where they live in the world. 

Often if you are buying something online or are traveling and it is…