Eth Wallets vs. Bank Accounts

Hello. Can anyone please tell what are the advantages, if any, of eth wallets over bank accounts? I'm not talking about the advantages of eth itself vs. dollars or other currency since I am familiar with those. I'm only wondering about the practical advantages/disadvantages of wallets themselves vs. bank accounts.

I'm reading a book now "Out of the Ether", which talks about how an employer could have various eth wallets earmarked for different employees instead of having bank accounts for each, but was wondering why this would be beneficial. These days it's so easy to open a bank account online, so it's not immediately apparent why one might be more useful than the other.

Thanks