Online banking and mobile banking account opening are a huge part of what people look for in their banks. Now, there are more people on the planet than ever before and the population is still steadily growing. As a result, there are more and more people looking for banks near me. Here are all of the facts that people need to know and more.
In the year of 1966, the debit card finds its origin at the Bank of Delaware. As a result, it is easy to understand that this concept is not something new but rather something completely redesigned. Now, so many peope prefer paying with a plastic card rather than paying for cash. As a result, it is important to find banks near me that fit your situation and financial needs.
Financial Literacy Is Important
Americans are really lacking in terms of financial literacy. Simply put, this means understanding finances and being competent in managing these finances. This is not good because according to data, younger Millennials are suffering through an economic crisis. Millennials are in more debt than previous generations and have a salary that is 20% less than the average salaries of generations that come before them.
Recent data shows that when compared to 18 other countries, American teenagers are far behind in the assessment by the Organization for Economic Cooperation. As a result, just about 18% of all American teenagers are not able to understand basic concepts in relation to financial literacy. On the other hand, the entire globe is at just about 15%. Based on the resources available, the United States should be much better in producing high results for these tests!
A study was recently conducted and revealed that almost 50% of all Americans lack any basic financial literacy. According to the Patriot Bank, N.A. Overall, only 43% of all adults have a basic understanding of financial skills. These financial skills include saving, investing, and handling debt as well. This is something that needs to change and that includes people finding the right banks near me. That way, they can work with a trusted and transparent financial institution.
Banks Near Me Offer Local and National Services
It is really important for young teenagers and adults to pick the right type of banks near me. This means deciding if you want a local bank institution or a national bank institution. There are pro’s and cons to both and as a result, it is important for everyone to make their own decision. So take time to search up information on these different kinds of banks for the best possible results.
Over 99% of all banks across the United States are just simply community banks. Also, in more than 600 different counties, community banks are the only physical banking locations. As a result, it may be wise for someone to open up a savings account at this kind of bank. Therefore, you can enjoy the transparency an honesty provided by a local credit union
Based on the most recent data from the Federal Reserve,70% of consumers have at least one credit card. That means about 174 million Americans have at least one credit card. If you want a credit card then you are in luck. You do not need to find banks near me to get a good credit card. There are plenty of companies and institutions nationally that can offer you a good credit card with some fair APR rates and more.
In Conclusion
A Gallup survey was conducted in July 2016 in which people were asked about cash money and the future of physical money. Nearly 60% of all respondents stated that they believe that the United States will soon no longer use cash. As a result, these people believe only credit and debit cards will be used in the future. Also, they believe that a new form of electronic payments will be created as well!
