Which of the following is a benefit of doing business with an online bank

a personalized service
b typically higher saving rate
c variety of deposit locations
d greater variety of services

b typically higher saving rate

Explanation:

One characteristic of online-only banks is that they offer a higher than the average interest rate. Online-only banks offer up to six times of what the traditional brick and mortar offer as interest rates. They provide a high-interest rate for two reasons.

The online-only banks do not have the expense of maintaining branches and a high number of employees. Due to this reason, their operational costs are lower than traditional banks. They can afford to pass the benefit of low costs to customers in the form of higher interest rates. Online-only banks do not have a physical presence like traditional banks. For them to attract customers, they offer an interest rate that is higher than the market average.