Question

Online banking transaction costs are about 2 cents per transaction versus 6 cents per transaction at a physical branch. True or False

Answer 1

Online banking transaction costs are about 2 cents per transaction versus 6 cents per transaction at a physical branch.

Step-by-step explanation:

The statement is true. Online banking transaction costs are indeed about 2 cents per transaction, while physical branches have transaction costs of around 6 cents per transaction. This is because online banking eliminates the need for physical infrastructure and reduces the need for manual processes, making it more cost-efficient.