Some banks and finanical instuituions
will call their accounts completely online or virtual savings accounts.
Basically what this means is that your money is going to be difficult
to get a hold of. Your virtual account will be tied to a savings or
checking account at another bank. You transfer money between the accounts
at your will. But, you can only make a maximum of six withdrawls per
month. With these accounts you will not have ATM access to your account.
Needless to say these accounts are based on conveince for the bank
not for the account holder. While they may sound useless, because
they favor the bank you usually get much better rates with these accounts.