fTLD Registry the operator for .Bank announced today that 36% of U.S. banks have purchased a .BANK domain name and many are planning as using them for their online banking operations making .Bank the first break out success of the new gTLD program from an end user perceptive.
“Since May 2015, 2,465 banks have purchased one or more .BANK domain names— signaling their commitment to providing a trusted, verified and more secure location online for their banking services.”
“In the United States there are approximately 6,800 banks.
Back in July we told you that more than 5,500 domain names were registered about $1K per, depending on the registrars.
Only verified members of the global banking community can register a .BANK domain name.
fTLD Registry’s recently released (see below) paints a picture of what has been happening behind the scenes during the past six months to provide a trusted and more secure location on the Internet for banks and consumers.
Of the 4,907 domain names registered by banks in the U.S. (banks can register more than one domain name), five states lead the pack: Texas, Massachusetts, Missouri, Illinois and Pennsylvania.
Globally, .BANK is making a mark as well
Outside of the U.S., 441 .BANK domain names have been registered.
Here is an infographic by the fTLD Registry:
Since their is a limited number of banks and only banks can buy these domains then I would assume that the fee for these domains will always be at least $1,000 per year correct? With no possibility of rapid growth how can the registry survive unless it continues to charge a high fee yearly.
Will there be a .banks? Hopefully not. Or would create further consumer confusion like .loan and .loans, .finance and .financial, or .market and .markets.
There might be a .banks in the future, these guys will probably apply for it
$1K is retail $700 is wholesale to the registry
Very few of these domain registrations will be marketed to the public…almost all are defensive registrations (from other banks).
Can you provide an example?
Can you provide a list of 50 banks that are using this extension as their primary domain name? (50 banks would be less than 1% of the outstanding registrations)
This kind of data is often available after the time necessary for migrations has passed.
“Why do you rob banks?”
“Because that’s where the money is.” Willie Sutton
The biggest mystery: why only 33% of the banks got one.
All banks will probably move away from dot-com to an extension that is not available for public purchase, since closed extensions mitigate consumer exposure to phishing and other forms of identity theft. The ones that don’t migrate to dot-bank or another closed generic will probably migrate to their own dot-brand TLD.
An example of a bank moving from a .com to a .bank yes:
http://www.thedomains.com/2015/10/05/dollarbank-com-moving-banking-internet-operations-to-dollar-bank/
Maybe the registry can
It sounds like a lot of work
Since the registration of .bank will be restricted, it would boost online security for banks and their customers.