Despite the convenience of mobile banking, most consumers still use antiquated brick-and-mortar branches. Some 62% of bank customers say branches act as their primary banking method, compared to 29% who say the Web is their most used banking channel and only 1.6% for mobile devices, according to a survey of 10,900 financial institutions from RateWatch, a banking data and analytics service owned by TheStreet, Inc. While mobile banking tends to be fast, free and easy, which the survey found 81.5% of banks have, people still flock to the branch location for more substantial banking services that a smartphone can’t offer.
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