Why Bank Branches are Closing as Online Banking Gains Popularity

Advances in mobile phone technology in recent years have caused a massive spike in online banking. In fact, the explosion in online banking forced many bank branches to close in 2013 due to underuse. Some 74,000 new users turned to mobile banking every day last year, according to Javelin Strategy & Research.

 

Banking online can save 2 of your most valuable resources: time and money. While more than half of U.S. adults do their banking online, many still haven’t made the switch.

 

Have you shifted to online and mobile banking? Consider the benefits:

 

There are no lines online

 

It’s more convenient to do your banking from the comfort of your home than drive to the brick-and-mortar location and wait in line. Always rushing to the bank before it closes? Online banking is 24/7.

 

You can save time and money

 

With online banking, you can set up automatic bill pay – freeing up space in your busy schedule and saving on stamps and envelopes. You can also transfer money between multiple online bank accounts, saving even more time.

 

Is online banking safe?

 

Concerned about security? Online banking with Nationwide Bank is safe and dependable. We use various technical safeguards to ensure a secure and reliable online banking experience.

 

Your private transactions and information are safe and protected. Plus, most online banks, including Nationwide Bank, are members of the Federal Deposit Insurance Corporation (FDIC), which means your deposits are insured up to $250,000.

 

During your lunch break, wouldn’t you rather be having lunch than standing in a bank line? Take advantage of our online banking service. Rates on our money market accounts and CDs consistently beat the national average. And with our e-checking account, you pay no monthly fees when you sign up for direct deposit and use your debit card 8 times a month.

 

Nationwide Bank, Member FDIC, is a federally chartered savings bank. Nationwide and Nationwide Bank are service marks of Nationwide Mutual Insurance Company. ©2014 Nationwide Mutual Insurance Company. All rights reserved