Mail banking is a service provided by a

financial institution A financial institution, sometimes called a banking institution, is a business entity that provides service as an intermediary for different types of financial monetary transactions. Broadly speaking, there are three major types of financial ins ...

which allows its customers to deposit

cheque A cheque (or check in American English) is a document that orders a bank, building society, or credit union, to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing ...

s into their account by

mail The mail or post is a system for physically transporting postcards, letter (message), letters, and parcel (package), parcels. A postal service can be private or public, though many governments place restrictions on private systems. Since the mid ...

. It is primarily used by

virtual bank A direct bank (sometimes called a branch-less bank or virtual bank) is a bank that offers its services only via the Internet, mobile app, email, and other electronic means, often including telephone, online chat, and mobile check deposit. A direct ...

s (as they may not offer

branches A branch, also called a ramus in botany, is a stem that grows off from another stem, or when structures like veins in leaves are divided into smaller veins. History and etymology In Old English, there are numerous words for branch, includi ...

or ATMs that accept deposits) and by customers who live too far from a branch. Typically, the institution that advertises such a service will provide its own

business reply mail Freepost is a postal service provided by various postal administrations, whereby a person sends mail without affixing Mail, postage, and the recipient pays the postage when collecting the mail. Freepost differs from self-addressed stamped enve ...

envelopes as a courtesy.

See also