5 Reasons Even Boomers Prefer Banking Online vs In Person as of 2025

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Much like many other industries, banking has become more digital in recent years — and Americans of all generations seem to be embracing it. A recent GOBankingRates study found that less than half of baby boomers (48%) prefer to do their banking in person versus online methods.

Here’s a closer look at boomers’ banking behaviors and why they are embracing digital banking.

Key Findings

• Most boomers (51%) prefer to do their banking online. When it comes to online banking, more boomers prefer to bank via their computers than via a mobile app.
• Despite adopting digital tools, boomers are less likely than other generations to embrace online-only banks. Fifty-five percent of those who are 55 to 64 and 64% of boomers ages 65 and older said they trust digital banks somewhat or significantly less than traditional banks.
• Many boomers are no longer writing physical checks. Forty-seven percent of those ages 55 to 64 and 30% of boomers ages 65 and older have not written a physical check in the past year.

Why Boomers Are Embracing Digital Banking

Although we might think of boomers as being old-fashioned, many are leaning into the convenience of being able to do all of their banking without visiting a physical branch. Among those ages 55 to 64, 48% prefer to bank in person, 20% prefer to bank via mobile app and 31% prefer to bank online via their computer. Among those ages 65 and older, 48% prefer to bank in person, 10% prefer to bank via mobile app and 41% prefer to bank online via their computer.

“Consumers want the ease and flexibility of banking from their phone,” said Sonali Divilek, chief marketing and customer officer, card and connected commerce at Chase Bank.

As Divilek noted, it’s now possible to take care of many everyday banking needs directly from an app or bank website, including sending money, making payments, splitting purchases and redeeming offers and rewards.

“They also can gain insights into their budget and spending with tools to help them plan, and check their credit score and even make an action plan to improve it,” she continued. “They also can schedule a meeting with a banker. Eight-five percent of our customers are using our digital channels.”

According to UMB Bank experts, there are several advantages for boomers who opt for online banking versus in person:

• If you live in a rural area, online banking may be more convenient and save you travel time.
• You can easily set up automatic transfers to send money to your savings account without having to speak to a bank representative.
• Being able to quickly access your bank account information can help you more closely monitor your spending and stick to your budget.
• You can instantly transfer funds between accounts from wherever you are.
• You can set up account alerts for a variety of actions, like new transactions, low balance warnings and more. These alerts can help you quickly flag and stop any unauthorized activity.

Still, while boomers enjoy the convenience of doing their banking online, many are still skeptical of digital-only banks and neobanks. Less than 1% of boomers do their banking via a neobank, and many see digital-only banks as less trustworthy than traditional banks. According to the survey, among those ages 55 to 64, 22% said that they trust digital banks somewhat less than traditional banks and 33% trust digital banks significantly less than traditional banks. Among boomers ages 65 and older, 21% trust digital banks somewhat less than traditional banks and 43% trust digital banks significantly less than traditional banks.

Payments Have Also Gone Digital for Many Boomers

The GOBankingRates survey asked boomers how often they had written a physical check in the past year. Among those ages 55 to 64, 47% had not written a physical check in the past year and an additional 17% wrote less than six checks in the past year. Among those ages 65 and older, 30% had not written a physical check in the past year and an additional 24% wrote less than six checks in the past year.

“Digital payments are faster, more efficient and more secure than paper checks,” said Ken Tumin, founder and editor of DepositAccounts.com. “Just like how cars replaced the horse and buggy, digital payments will likely replace paper checks.”

Methodology: GOBankingRates surveyed 1,006 Americans ages 18 and older across the country between Dec. 6 and Dec. 9, 2024, asking 24 different questions: (1) What is your preferred method of banking?; (2) How optimistic are you that you will add more than $2,000 to your savings account balance over the next year?; (3) How much do you anticipate your savings account balance to change over the next year?; (4) How would you characterize your current level of stress when it comes to your current savings?; (5) How much is the minimum balance you keep in your checking account?; (6) How much do you currently have in your savings account?; (7) How much of your paycheck do you put in your checking account?; (8) How much of your paycheck do you put into your savings account?; (9) How satisfied are you with your current bank?; (10) What’s the worst part about your current banking situation?; (11) If you could change one thing about your current banking situation, what would it be?; (12) Which of the following bank accounts do you currently use/have open? (Select all that apply); (13) Which type of banking account do you trust the most to keep your money safe?; (14) Which type of banking account do you trust the LEAST to keep your money safe?; (15) Do you trust digital banks (neobanks, online-only banks) as much as traditional banks with physical branches?; (16) In the past year, how often have you written a physical check?; (17) When was the last time you chose to visit your bank in-person?; (18) Are you concerned about the rising number of physical bank branches that have shut down in the past few years?; (19) Have you had an overdraft on your checking account in the past year?; (20) How much cash do you keep at home?; (21) Do you believe the current banking system needs to change?; (22) Do you believe the current banking system benefits the rich more than the middle class or lower middle class?; (23) Do you believe the current U.S. banking system is unfair to Americans of lower economic status?; and (24) How have the results of the 2024 presidential election affected your financial outlook going into 2025 and beyond?. GOBankingRates used PureSpectrum’s survey platform to conduct the poll.

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