What is one cost and one benefit of online banking, and one cost and one benefit of traditional banking? Which type of banking would you prefer? Why?

Online banking usually has a lower minimum balance requirement and it costs a little less than traditional banks. It's also convenient. One downside is that you can't deposit cash which you would have to go to an ATM for so it's usually only good for card deposits and sending money into your savings account etc.

Traditional banking allows you to properly speak to a helper if you need help with something specific. However, it's not convenient since most banks are open for a few hours (like the bank next to my home is only open till 3 pm) so you'd have to change your schedule in order to go to the bank.

Personally, I'd prefer online banking because it's much easier and you don't have to spend so much time explaining your issue to a representative and you can just do what you want. Plus, I'm socially super awkward so I forget what to say and that ends up wasting everyone's time. Hope this helps

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