Answer:
Pros and Cons of Online Banking
Advantages
It is fast and efficient. Funds get transferred from one account to the other very fast. You can also manage several accounts easily through internet banking.
Disadvantages
Your banking information may be spread out on several devices, making it more at risk.
Pros of online banks:
Earn more interest on your savings
Potential for lower fees or no fees
Convenience of online banking
Cons of online banks:
Potential for higher ATM fees
Not ideal for those who don’t use the internet
Online transactions can take time to process
Motor Banking
A brick-and-mortar bank also can be a good place to get help for other aspects of your finances. ... If you're paying a lot of money in credit card interest to various other banks, your bank branch employees might be able to offer you a debt consolidation loan to help you save money.
Pros of brick-and-mortar banks:
You can stop by in person to ask questions
Convenience and a personal experience
You may have access to a broad ATM network
Cons of brick-and-mortar banks:
Fees and interest rates may not be competitive
Most big banks pay almost nothing on their savings accounts
