Cost-effective means

There argon many advantages of doing both insurance and banking with the homogeneous company. First, it is a cost-effective means of managing assets and insurance concerns, enabling consumers to save time, energy, and bills spent on transactions. Second, integrated insurance and banking makes it easier for the consumer to communicate his or her require in terms of insurance claims and appropriate payment adjustments with respect to extremity and crisis circumstances. Lastly, it enables an individual to build a deeper relationship with the bank and to better posit to know its services.On the downside, doing both insurance and banking with the same company increases the risks of losing insurance payments and new(prenominal) assets when the company loses capital from its investments or is affected by criminal activities. Although money and other deposits in a banking or insurance company argon insured by the Federal Deposit Insurance Corporation, it only reimburses up to a predet ermined amount which great power be less than a consumers actual bank or insurance deposits.2. ) I am not as comfortable with doing my banking transactions online as with a shop clerk in a brick and mortar bank due to security and secretiveness concerns. The internet remains an unsafe platform for conducting sensitive transactions as criminals are heightening techniques to capture pertinent consumer and monetary data just about as fast as online banking security experts are trying to develop more sophisticated means of securing internet banking services.In the same manner, I would not be as comfortable working with an insurance agent for my banking take as I would be with a banking clerk since I would get to about an individual having too much information about my financial status and resources. 3) Among the services that a consumer gets from a brick and mortar bank that might not be as easily provided by an online bank are automated teller machines for convenient deposit and withdrawals, and personal, in-depth consultations about banking services that could be accomplished just by walking into a bank or its branch.