Digital banks bring many benefits—speed, low fees, app-based interfaces, and automation. They’re great for routine payments, expense management, and real-time tracking.
But they also come with trade-offs: fewer credit services, limited cash handling, and sometimes less robust customer support compared to traditional banks.
Businesses with complex needs or high-volume trade may still require traditional banking support or a hybrid setup.
FAQs:
Q: Are digital banks suitable for large enterprises?
A: They work best for startups and SMEs; large corporations often prefer full-service banks.
User Comments:
- “We love the transparency and fee control.”
- “But for foreign exchange, we still rely on our traditional bank.”
Editor’s Note:
Use digital banks for efficiency—but don’t ignore the value of relationship banking when needed.