Question

With the wide availability of the Internet, many financial institutions are exclusively online. These Internet-only banks can usually offer higher rates on interest-bearing accounts than traditional, brick-and-mortar banks. Why do you think Internet exclusivity translates to higher rates on interest-bearing accounts?

Answer 1

This is what I found:
"With the popularity of online banks and more people going to their services, the demand for brick and mortar banks is decreasing. Because of this, the online banks are able to charge higher rates because they know they won’t lose customers. "

Answer 2

(https://www.coursehero.com/file/31695277/Journal353docx/) Is where I found it

Answer 3

thank you!

Answer 4

<3