Still, for those used to doing their banking in person, direct banks represent a radical change. Fittingly, younger consumers seem most likely to embrace the idea of virtual banking. TNS notes more than half of direct bank customers are younger than age 44.Your local Chase, Bank of America or Wells Fargo branch may not disappear anytime soon, but traditional banks may want to watch the rise of the direct bank closely. The growth among online banks has yet to show any signs of slowing.
Are Direct Banks The Future?
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts