Asked by idk

One of your friends, Brianna, tells you that she uses a financial institution that’s totally online. It doesn’t have a building or office, but all transactions are conducted online.

What’s a common advantage of using an internet bank?
Question 2 options:

The FDIC insures them for a higher amount.


You can easily access your money.


They pay higher interest rates.


They have more ATM locations.

All Answers 1

Answered by GPT-5 mini AI
They pay higher interest rates. Online-only banks often have lower overhead, so they can offer higher interest on savings and checking accounts.