What's the difference between online banking and traditional banking?

From the monetary point of view, the traditional bank's currency forms are mainly cash and checks, while the online bank's currency will mainly be electronic money.

From the perspective of operation mode, the services provided by traditional banks are strictly influenced by time and space, and their service mode is a traditional counter trading mode with physical reality. Online banking has changed from a physical network to a virtual digital network, which is a virtual financial service institution and can provide 24+7 all-weather services.

From the bank's point of view, (1) the business philosophy of online banking commercial banks has gradually changed from material-oriented to people-oriented. (2) Online banking has fundamentally changed the way commercial banks get economic benefits. Traditional banks mainly pursue economies of scale, while online banks bring high returns through repeated use or continuous innovation of technology. (3) Online banking has changed the sales channels of commercial banks. The sales channels of traditional banks are branches and their widely distributed business outlets. The main sales channels of online banking are computer network system and agent system based on computer network system. (4) The implied business scope of online banking has changed. The business scope of traditional banks is relatively clear, while the business scope of online banking is relatively vague.

From the customer's point of view, (1) online banking has no time and geographical restrictions. (2) The satisfaction of online banking to customers' needs greatly exceeds that of traditional banks. (3) Customers are worried about the security and privacy protection of online banking.