Which of the following explains why Internet banks often offer their customers

Which of the following explains why internet banks

This preview shows page 89 - 92 out of 110 pages.

280.Which of the following explains why Internet banks often offer their customers better interest rates than traditional banks? A. Internet banks provide their customers a greater sense of security.B. Traditional banks charge lower prices for financial services.C.Internet banks have lower overhead costs.D. Traditional banks offer the electronic transfer of customer funds.Feedback: Internet banks, like E*Trade Bank, can offer better interest rates and lower fees because they do not have the costs of physical overhead that brick-and-mortar banks have.Answer: CAACSB: Reflective ThinkingBloom’s: UnderstandLearning Objective: 20-06 Describe how technology helps make banking more efficientLevel of Difficulty: 2 MediumTopic: Technology and Banking 20-89
Background image
Chapter 20 - Money, Financial Institutions, and the Federal Reserve 281.When a customer purchases an item with a debit card: 282.Banks prefer that customers use an electronic funds transfer system rather than traditional methods of payment because: 20-90
Background image
Chapter 20 - Money, Financial Institutions, and the Federal Reserve
Background image
Image of page 92

You've reached the end of your free preview.

Want to read all 110 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes