Top Internet Connection Picks for Banking Sector in Rural Areas

As we all know, the internet was invented in the United States a few decades ago. But unfortunately, while other countries and regions are reaching new heights of innovation and connectivity, millions of American residents are still deprived of a stable internet connection.

Who are these Americans? They are usually residents of rural areas! They only have a few low-performance internet options. For instance, the speed tier range that Spectrum internet plans offer is from 200 Mbps to 1000 Mbps. The speed can vary from market to market. But it may not be available at all in rural areas.

Bank Operations and the Internet

For individual use or even for homes, rural connections are often insufficient. These connections support online activities related to education, official work, and entertainment. But the experience is not lag-free or smooth. If these internet options are not good enough for residential use, imagine how companies and banks would survive in rural areas. Because, like other companies and businesses, banks also need a reliable internet connection for various banking operations to run smoothly.

We live in an age where the utility of the internet is as essential as electricity. And that’s true for every individual, home, company, and so on. The banking sector is no exception. Banking activities rely on the internet. If the connection is unstable or interruptive, that means that the flow of info between the headquarters and bank data centers stops.

Furthermore, banks also have highly important service points such as ATMs and Point of Sale terminals. They also stop working when the internet is down. That doesn’t only affect the banks but also the individuals who want to use those services. So, to make sure that the transactions are smooth, banks use a combo of satellite and terrestrial internet technologies. That ensures a 24/7 connection for customers to take advantage of their services.

So, banks in rural areas have to carefully choose their internet connection type to ensure smooth services. Here are some of the top picks.

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Satellite Internet

When it comes to rural areas, satellite internet is the first option that comes into perspective. Since it doesn’t require a wired connection, it is the most accessible type of internet connection. Therefore, service points like ATMs or business centers located in remote places and highways can make connections to a satellite internet easily.

Moreover, most banks, even if they have a different primary connection type, use satellite internet as a backup. All you need is a dish antenna and you are good to go!

Generally, the advertised internet speeds for a satellite internet connection are around 100 Mbps. However, the most available option is around 25 Mbps. Some of the downsides of satellite internet are that it comes with a data cap and it is comparatively expensive. Data volume restriction means that users will experience speed throttling once the data limit is over.

Since banks are large organizations, pricing is not much of a concern for them. The strongest point of satellite internet is its massive coverage.

Dedicated Subscriber Line/DSL

The second most widespread internet type is DSL. Since it uses phone lines, it has access to many rural areas. With this connection type, users get to enjoy both, residential as well as commercial internet connections.

Businesses and banks in rural areas rely on DSL as their primary connection. Compared to all other connection types, DSL is the most stable, reliable, and affordable connection type. Furthermore, it offers great internet speeds enough to support heavy usage.

In most rural locations, DSL connections can offer internet speeds ranging from 20 Mbps to 100 Mbps. However, the speed that the user will get depends entirely on the user’s location.

The only downside of a DSL connection is that you might experience lagging speeds during peak hours.

Cable Internet Connection

The good news is that cable internet services are finally working on their service area expansion. They are also trying to cover more rural areas. As the expansion goes on, ISPs are introducing more and more residential and commercial Spectrum internet plans.

Among all other connection types, cable internet is the most stable and reliable option. Coaxial cable makes it fast and reliable, offering speeds as much as a whopping 1000 Mbps.

Moreover, banks can easily afford the slightly escalated price tag for a stable and dedicated commercial cable connection.

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T1 Lines

This connection type operates via dedicated copper wires. The best part about T1 lines is that they are not shared. Still, they are a bit slower than DSL internet. Also, they are not widely available in all the rural areas.

If your bank happens to be in a rural area that has T1 lines, you will enjoy a dedicated business connection. Moreover, if you experience a glitch or a problem, it will be resolved on a priority basis. Still, it’s slow and super expensive. Therefore, we don’t highly recommend it.