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Online only banks have fewer expenses (no branches or staff in them). This appears to translate into higher rates which is a selling point for them.
by mfer 6y ago
Online only banks have fewer expenses (no branches or staff in them). This appears to translate into higher rates which is a selling point for them.
- smoe 6y agoI think traditional banks, which apparently used to have much better rates even with all the expenses, have found that people are perfectly willing to give them their money practically for free. The newer online competeritors need something to draw in costumers.