which is a drawback of internet only banks?\no internet banks have higher fees and charges in order to…

which is a drawback of internet only banks?\no internet banks have higher fees and charges in order to maintain their websites.\no internet banking can only be done by computer or smart device, not using atms.\no some brick and mortar banks will not accept check payments from virtual banks.\no some services, such as getting a document notarized, can only be done in person.\nhow is a mutual savings bank different from a commercial bank?\no mutual savings banks do not make loans.\no mutual savings banks provide more services.\no mutual savings banks are owned by their depositors.\no mutual savings banks pay lower interest on deposits.

which is a drawback of internet only banks?\no internet banks have higher fees and charges in order to maintain their websites.\no internet banking can only be done by computer or smart device, not using atms.\no some brick and mortar banks will not accept check payments from virtual banks.\no some services, such as getting a document notarized, can only be done in person.\nhow is a mutual savings bank different from a commercial bank?\no mutual savings banks do not make loans.\no mutual savings banks provide more services.\no mutual savings banks are owned by their depositors.\no mutual savings banks pay lower interest on deposits.

Answer

Brief Explanations:

For the first question, internet - only banks lack physical branches, so services like document notarization that require in - person presence are a drawback. For the second question, mutual savings banks are owned by depositors, which differentiates them from commercial banks.

Answer:

First question: Some services, such as getting a document notarized, can only be done in person. Second question: Mutual savings banks are owned by their depositors.