The transition was subtle, but these days [checking] banks are actually just Software/API companies. They provide an online account that supports the establishe

The transition was subtle, but these days [checking] banks are actually just Software/API companies. They provide an online account that supports the established electronic money transfer protocols in whatever country you happen to live. The fact that they have a network of retail stores in which you can talk to a salesperson about a loan is just a hangover from history. A bank without those elements would probably have much lower costs.