Convenience: You can shop for financial products any time from anywhere you have an Internet connection.
More competition: You may be able to find a better price or a product that more closely meets your needs.
Easy comparison shopping: "With a few clicks of the mouse you can easily find and compare different products and rates," said Aurelia Cardamone, a Senior Technology Specialist in the FDIC's Division of Supervision and Consumer Protection. "Some consumer Web sites aggregate consumer feedback about financial institutions and their products."
The potential for lower fees: Some banks may waive certain fees for online customers, such as those for ATM withdrawals, to attract more users.