Still Using Banks the Old, Old Way

Amid all the change in the ways people transact their business, it’s startling to be reminded of how many still do things the old-fashioned way. Banking is a case in point, as we learn from an article in last month’s Gallup Management Journal, by Gallup financial-services maven Douglas Berlon.

Sixty-seven percent of bank customers surveyed by Gallup during August /September said they visit a brick-and-mortar bank branch at least once a month. This dovetails with the finding that 47 percent visit an ATM “less than once a month — or never visit at all,” while just 37 percent visit an ATM “once a week or several times a month.” Likewise, “While use of the online channel is growing, 46 percent of customers never visit online.”

Twenty-five percent of the customers surveyed said they never call their bank on the phone, and 53 percent do so less than once a month. What about mobile banking? Just 5 percent do it.