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Stephen C. Bach CFP®

Financial Advisor

 

7:12 Financial LLC

309 Henry Lane

Wallingford, PA 19086

 

610-892-1718 (Phone/Fax/Text)

 

712financial@lincolninvestment.com

 

www.712financial.com

January/February 2024

Digital-only Banks: Yay or Nay?

Digital-only Banks Yay or Nay

Digital-only banks — banks that have no physical locations but exist only online — are making some inroads into the banking industry. A recent Harris Poll found that 39% of respondents had opened a bank account with an online-only institution.


Consumers said they’d consider these major factors when deciding whether to open an online-only bank account. (See image.)


Source: The Harris Financial Services Poll, December 2022


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