The $42B Question: Why Aren’t Americans Ditching Big Banks?

Re:The $42B Question: Why Aren’t Americans Ditching Big Banks? by rocket_surgeron on Thursday December 08, 2022 @03:55PM (#33913262)

>“I’m old fashioned. I like to be able to see my money,” Mr. Kvendru said. “With brick-and-mortar banks, you have that feeling that it’s not going anywhere.”

I haven't been inside a bank since 1997, when I opened an account with USAA. Since then I've moved on to other online-only banks.

Since 1997 I've had mortgages, personal loans, home equity loans, multiple car loans, credit cards, CDs, and a myriad other banking and investment services and never been face to face with a bank employee.

The only time I ever even slightly thought about physical banks was when I started wanting ‎Sacagawea dollars to pay at neighborhood lemonade stands (I used to love getting Kennedy half-dollars at my childhood stand, but inflation's a bitch...).

The very, extremely, low premium I pay to order Sacagawea dollars from the Mint is more than offset by the 3% I get on my savings account by not using a brick-and-mortar bank.

What are people doing in those bank buildings?

I do not understand.

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Re:The $42B Question: Why Aren’t Americans Ditching Big Banks? by JohnFen on Monday December 12, 2022 @12:19AM (#33951163)

If you have a problem, or want to do anything even slightly unusual, going into a physical branch to take care of it is the only way to go. Online or phone banking doesn't even come close in those situations.

[ Parent | on HN ]