The Downside of Online-Only Financial Institutions

8 min readSep 26, 2022
Online Banking and Financial Services
Photo by on Unsplash

Online financial institutions like Axos, Revolut, Discover and N26 provide an alternative to traditional brick-and-mortar banks, by performing all the banking duties online or through the mobile phone app instead of a physical location. The advantage of offering services in this method is that they can reduce their cost, which in theory gets passed on to the customer. Revolut, for example, offers a…


Milo Denison is a freelance project manager and content writer. His most recent book “How to Manage Your Manager” is out now