Lower Fees and Better Interest Rates Motivate Customers to Open

question 214

True/False

Lower fees and better interest rates motivate customers to open accounts with Internet banks. However, the lack of personal service and concern for information security encourages some customers to return to a traditional bank.

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Definitions:

Financial Transaction

Any exchange or transfer of money or monetary value between parties.

Purchase Decision

The process by which a consumer decides to buy a product or service, influenced by factors such as need, desire, price, and brand reputation.

Flat-Screen TV

A modern television featuring a slim profile due to the use of LCD, LED, or plasma technology, offering improved image quality over older CRT models.

Afford

The ability of an individual or organization to manage financial expenditure on goods, services, or investments without undue hardship.