Wealthy consumers are more likely to conduct their banking at a branch than they are through any automated channel, according to a report the Chicago market research firm Mintel International Group Ltd. released this week.
According to the Mintel report that 66% of the mass affluent said last year that they handled some of their everyday banking transactions in person. This trend was more pronounced with men; 68% said they prefer to bank at a branch, compared with 63% of women.
Online banking was a close second, with 56% of both men and women saying that they take care of some transactions through the Internet, and 33% of consumers said they use automated teller machines.
Very few are using mobile banking services; only 1% of men and 3% of women said they have used such services.
Mintel's report was based on a poll of 1,722 mass affluent U.S. consumers, defined as those with at least $100,000 of investable assets (excluding real estate).
