In The News

40% Of People Report They No Longer Physically Go To Their Bank

The banking world has seen its fair share of COVID-related changes over the last year. Invisibly recently surveyed 1000 people to get a better understanding of banking habits during the pandemic. Their Realtime Research survey ran from January 13th – 18th 2021, revealing that by and large, we’re not banking the way we used to. Here are the findings:

  • 40% of people report no longer going to banks, and 70% either rarely or never go
  • 78% of people go to banks 2 times a month or less
  • 52% of people never or rarely withdraw money from ATMs
  • 33% of people log in and review their online banking daily

“The surprising thing about this data is that so many people are still going to physical banks, given the ongoing risk of COVID-19, and the accessibility of online banking. As trust builds in online banking, we expect to see a continued decline in the number of people visiting brick-and-mortar banks in the coming years.” — says Don Vaughn, Invisibly’s Head of Product.

Invisibly Realtime Research surveys differ from traditional online surveys in that the questions are shown to the user on web pages in place of an ad. Realtime Research surveys are optional and do not block content (like Google Surveys do), thus ensuring that participants are responding voluntarily.