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.