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How will a pure online bank be any better ... What guarantees that their fraud detection will be any better?

Second, I dont know about your situation but for us Austrians getting my money from the ATM is free because traditional banks finance the ATM infrastructure. As there are now more and more online banks in the future I will have to pay once I want my money because online banks effectively utilize the infrastructure created by traditional banks.

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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.

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