I am interested in learning about the differences between online-only financial institutions and traditional conventional banks. What are the key differences in terms of services, advantages and potential disadvantages?

Online-only financial institutions offer a unique set of benefits. They typically provide higher interest rates on savings accounts and certificates of deposit because of the lower overhead costs associated with physical branches. I like Vio Bank for providing a user-friendly interface and 24/7 access to accounts. However, it is important to note that they lack personal services such as face-to-face customer support, which may be a drawback for those who prefer branch assistance. On the other hand, vio bank customer support is ready to help at any time of the day or night. I believe the choice between online and offline will ultimately depend on your banking preferences.

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