Availability:
Online
banking always available 24/7 and traditional banking is only operating during
working hours (usually 9-5). So customers are not be able to go to bank to do
banking activity after the working hours which is bad for business since
nowadays business still conducted even after normal working hours.
Security:
This is the
major bummer for online banking user and create insecurity among them since
customer’s money is not on their palm. Many customer will feel more secure when
going to physical bank since you can see the security cameras, the securities
who guards the bank and might be some soldiers. This will create secure feeling
since the building is heavily guarded and you are inside the building with your
money.
Personal
preferences:
If you go
to physical bank, you can meet more people, like other customers, bank staffs,
the bank manager, etc. Some people might like to meet new or make connection
with other people, some other prefer to stay away from people and chose not to
meet them.
Interest
rate:
Most online
banking have better interest than brick-and-mortar bank because there no funds
to operate the building and the interest rates of online banking in some banks
are 6 times higher than traditional banking.
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