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What Is Online Banking? Definition, Pros and Cons

The real tradeoffs between branch-heavy and digital-first banking for modern households.

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Online banking removes branch dependency and often provides better rates, but support models differ by provider.

Advantages

Lower overhead can translate into better APY, lower fees, and faster in-app workflow for common tasks.

Limitations

Cash deposit options, complex dispute handling, and in-person services may be less convenient.

Takeaway

Pick a provider based on your transaction patterns, not just headline APY.