1. how has online or web-based banking changed how people choose and use
financial services? describe at least one advantage and one disadvantage of using
online or web-based banking

Online or web-based banking has changed how people use financial services because now they can complete transactions at all hours of the day. They do not need to wait until the bank branch opens.

Web-based banking has also changed how people choose financial services because now they can do a lot of their own research on the internet. There is less need for a middle man in buying stocks as an investment by opening a brokerage account online, for example.

Explanation:

One advantage of web-based or online banking is that you have access to your accounts at any time of day. You can make transfers late at night and you do not have to restrict your banking to the hours the bank is open. There are now apps on your smartphone that can even scan and credit checks to your account. Banking has really gone virtual and there is little need for paper checks as you can transfer money to friends and relatives and pay for purchases online.

The disadvantages of online banking are that some people may not have access to the internet because they do not have internet service at home or they do not own a computer. This may be the case for someone who has no fixed address for example or for the elderly. It would be hard for these clients to gain access and to know how to use the internet services, putting them at a disadvantage when compared to other bank clients who do know how to use internet banking.

i feel as if they would both catch on before to long because they would see them to frequent