Your question of,
Why would I, as a consumer, choose X over Y?
is really only half the puzzle here. As basically stated in quid's answer, There may not be a good reason for you to choose X over Y. But, that may be the desired conclusion for you to reach based on deliberate, artificial pricing conditions the bank has created. In other words, you also need ...
Ubuntu 19.10 (Eoan Ermine) will be released in ~ 10 days time from now and it looks like it's going to include the latest version of GnuCash (3.7, as of today), cf.:
https://packages.ubuntu.com/search?keywords=gnucash (eoan: 1:3.7-1ubuntu1)
https://launchpad.net/ubuntu/eoan/+package/gnucash (gnucash 1:3.7-1ubuntu1)
which is, however, contradicted by
With the new versions Gwenhywfar 4.99.16beta, AqBanking 5.99.32beta und Gnucash 3.7 it is working again.
I found the solution at the thread https://forum.ubuntuusers.de/post/9099928/
Have a look at the PPA https://launchpad.net/~ingo/+archive/ubuntu/gnucash/
which is compiled ready for ubuntu 18.04
Why do online banks have this permanent residency requirement in place?
First, not all banks have this requirement, but a great many do. When I was a non-permanent-resident worker I got an account at a local credit union specializing in people in my industry.
But your question is why banks have a residency requirement. Let's follow the chain of logic: