2. Internet banking is cheaper. With the advantage of having no physical structure to keep up, virtual banks have low overhead. They can afford to cut you a break by offering higher interest rates on your savings. They will also offer lower overdraft fees. Even banks that are backed by physical buildings encourage online banking with free bill paying services.
Wednesday, August 20, 2008
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2. Internet banking is cheaper. With the advantage of having no physical structure to keep up, virtual banks have low overhead. They can afford to cut you a break by offering higher interest rates on your savings. They will also offer lower overdraft fees. Even banks that are backed by physical buildings encourage online banking with free bill paying services.
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