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Best Internet Connection for Banking Sector in Rural Areas

While the world is reaching new heights of interconnectivity, millions of Americans who live in rural areas still don’t have access to a reliable internet connection. This creates problems for them, especially when everyone is required to pursue online learning and work from home.

internet connectivity

Not just for individuals, this is also a problem for different sectors, which rely on a stable and fast internet connection for their commercial activities. One of those sectors is banking.

If the internet connection goes down, the flow of information between banks’ data centers and headquarter gets interrupted. Moreover, remote service points such as ATMs and Point of Sale terminals stop working. That affects both the banking sector and the individuals who use those services.

To ensure smooth transactions, banks usually rely on a combination of terrestrial and satellite internet technologies. That helps them to stay connected 24/7 and assist their customers whenever they want.

If you are also looking for an internet connection for a bank in rural areas, here are some of the best connections you can consider.

DSL (Dedicated Subscriber Line)

A DSL connection or the Digital Subscriber Line is an internet connection that is offered to customers using the phone lines. Due to that, a majority in rural areas have access to it for both residential and commercial connections.

Most of the businesses in rural areas, including banks, rely on DSL internet connections to get access to high-speed internet services. Compared to other available options, a DSL connection is much more reliable and cost-effective. Moreover, it offers a good download speed that can take care of your connectivity issues.

In most cases, a DSL connection offers a download speed of up to 20 Mbps. However, in many areas, it also delivers a download speed of up to 100 Mbps. The speed you get will entirely depend upon your location.

The downside of using a DSL connection is that the speed might slow down during peak hours. Other than that, you will be good to go.

Satellite

Satellite internet connection is among the top choices for rural areas as it doesn’t use a wired network to deliver internet services. So businesses that are located on the highways and other remote areas can access it without any problem.

Even for banks who don’t have access to a good internet connection or need to have a backup option, they tend to choose satellite internet rather than any other. The only thing required for that to be installed is the clear line of sight between the satellite and the dish antenna. As long as that is not a problem, your bank can get internet services.

With a satellite internet connection, you can get a download speed of up to 100 Mbps. However, that speed depends upon the area you are in. The most common speed option that is available for everyone is up to 25 Mbps via HughesNet internet.

The downside of choosing a satellite internet connection is that it is expensive and usually has soft data caps. That means if you go over the specified data limit, the download speed will go down.

If price is not an issue for you and you need a good internet connection with faster speeds, satellite internet is the best option to consider.

T1 Lines

T1Lines are dedicated copper lines that are used by telephone service providers to deliver internet services. These lines are reliable as they are not shared with other users.

Since the services are offered by the phone service providers, these lines work somewhat like DSL internet. However, these are slower and rarely available in most of the areas.

The only advantage of a T1 line is that your connection will be considered a business connection and your issues will be resolved on a priority basis. Otherwise, it is super expensive and very slow. Normally you will get a download speed of up to 2Mbps with a T1 line which can cost you more than $200 per month.

Cable Internet

With cable service providers expanding their services to rural areas, businesses can get cable internet services as well. Though it is not very common, the number is growing with every passing day.

Cable internet is the best option among all these as it offers a download speed of up to 1000 Mbps. It relies on coaxial cables, which makes it reliable and fast.

Moreover, it is much more affordable than a satellite or DSL internet connection. For instance, you can get a download speed of up to 100 Mbps for around $50 for a residential internet connection. For a business connection, the price can be a little higher than that.

Bottom Line

Other than these connection types, fiber is the one you should look for. Since you are living in a rural area, it might not be available. However,  there is no harm in trying. If you will be able to find it, you will get a symmetrical download and upload speed of up to 1000 Mbps.

If fiber is not available, prioritize DSL only if it offers a download speed of up to 25 Mbps or higher. Otherwise, choose satellite.

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