The three main types of banks (Large Traditional, Credit Union, Online or Online-Only) have many tradeoffs with respect to techn
ology, convenience, personal experience, fees and savings rates. For this question, put aside all of the trade-offs and look only at the level of technology available to consumers. Rank the following from highest to lowest on the level of innovative and convenient technology available to consumers (i.e. mobile apps, website functionality, integration with accounting services and software)
So from a little research, this is the order: Online Bank, Credit Union, Traditional Bank
Online bank is the highest one since it uses technology like the internet to transfer money or to pay bills easily. Credit union is same as an online bank where it also uses internet offering mobile and online banking services. Traditional bank is the most common type of bank. They also offer mobile banking but they still use the old procedure of banking like depositing and withdrawing money, face to face.
<u>The ranking of these three types of banking is given below</u>
Online Bank,
Credit Union,
Large Traditional Bank
<h2>Explanation:</h2>
Online banking, also known as internet banking, is an electronic payment system that enables customers of a bank to make online transactions through website. Similarly Credit unions are not-for-profit organizations that serve their members to make deposits, make loans and many other financial services.
