Wax’s Consumer Banking Survey

The last year and a half hasn’t exactly been kind to banks … or consumers. Even as jobs and the market rebound, most families still feel the squeeze of the recession. To see how satisfied and comfortable people now feel with their banks, Wax Custom Communications conducted a consumer survey of men and women, ages 25 to 54, with incomes $50K and up. Here’s what we found.

How safe is their money in your hands?

  • 31% feel safer using a community bank
  • 30% are most comfortable using a large national bank
  • 20% don’t feel safe with any bank

Where do consumers turn for financial advice?

  • 31% don’t have a financial advisor
  • 65% look to the Web to help make financial decisions
  • 56% use print sources to help them make financial decisions

Consumers want to receive information online.

  • 68% would like to receive information from their financial institutions via e-mail
  • 81% would be very or somewhat interested in receiving e-mail messages with current news and business information
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