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Anna35 [415]
3 years ago
8

How is an online bank different from a retail bank?

Business
2 answers:
puteri [66]3 years ago
6 0
An online bank has a lower operating cost than a retail bank. 
alekssr [168]3 years ago
5 0

As mentioned below, an online bank has lower operating costs over a retail bank. Due to having lower operating costs, the interest rates tend to be better on their savings and checking accounts beause they don't have to use the funds to pay for manning. An online bank also is strickly online, there is no store front to go into and everything is handled on the internet or through a call center.

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