Online or Brick and Mortar?

**MonkeyMama** · 10-02-2008, 08:29 AM

I said "more online."

Though I've always had a brick & mortar credit union, I have rarely ever set foot in it. (In the almost 20 years I have had a bank account). That is where I have my checking, but I do most of my transactions online.

All of my other bank accounts/brokerages were set up online. I will never step foot in a branch for my savings or retirement accounts.

**Broken Arrow** · 10-02-2008, 08:46 AM

I put down "brick and mortar only" because that's my current situation. However, most of my banking activity, as well as my personal preference, is online.

**noppenbd** · 10-02-2008, 08:54 AM

I said "online only" because even though I technically have 3 accounts at banks that I could walk into, I rarely if ever do. The last time I went to a B&M bank it was to exchange the spare change jar into bills, and they charged me for it. Sheesh, no wonder I never use them.

**sweeps** · 10-02-2008, 09:00 AM

The question asks what type of banks do you use, not what type of banking do you do.

Banking with Chase Online doesn't make Chase an online bank

Or perhaps I misunderstood the OP.

**Ima saver** · 10-02-2008, 09:28 AM

I go to the bank once or twice a week.

**disneysteve** · 10-02-2008, 09:36 AM

It depends what you mean by More B & M or More Online. Do you mean how much money we keep in each or how active each account is?

Our checking account is B&M and has many transactions each month.
Our MMA is online and holds a lot more money but is hardly ever accessed.

With the B&M account, virtually all transactions are done either automatically, online or at the ATM. I very rarely go to a live teller.

**boosami** · 10-02-2008, 10:39 AM

I was thinking in terms of dispersion of money. And you are correct: Using Chase online does not make Chase and online bank.

**kork13** · 10-02-2008, 10:42 AM

I put "online only", because I don't have any accounts that I can (to my knowledge) actually go up to a teller and deal with my business. My main bank is a conglomerate of alot of things (banking, investments, retirement, advisors, insurance, etc.), and have a few different locations with offices, but I don't think they deal with customers at any of those.... It relies entirely on mail, phone, and internet. And honestly, I have to say I kind of like it that way... It's easy, and I never have to worry about my bank's office hours.

**disneysteve** · 10-02-2008, 10:48 AM

Originally posted by boosami View Post

I was thinking in terms of dispersion of money.

In that case, I'd say more online, though my checking account at BoA gets a whole lot more activity.

**momof1in150** · 10-02-2008, 12:35 PM

I bank with USAA and while I have never stepped into their building they are technically brick and mortar as they have two branches. Most of the people that bank with them have never been in the buildings.

**kork13** · 10-02-2008, 06:02 PM

Originally posted by momof1in150 View Post

I bank with USAA and while I have never stepped into their building they are technically brick and mortar as they have two branches. Most of the people that bank with them have never been in the buildings.

Hmm... well, maybe i'm halfie-halfie then... i dunno... hahaha technicalities i suppose. I like how my banks operate, I'll just stick to that

**maat55** · 10-02-2008, 07:00 PM

Originally posted by sweeps View Post

The question asks what type of banks do you use, not what type of banking do you do.

Banking with Chase Online doesn't make Chase an online bank

Or perhaps I misunderstood the OP.

I think you are right about the question. Which may mean my answer to the poll is wrong. My online account with provident direct is accually with a brick and morter bank.

**disneysteve** · 10-03-2008, 04:30 AM

I think the line between the two is very blurry today. Many "online" banks are actually the web presence of traditional bricks and mortar banks. For example, I had a CD with AmTrust Direct, but that is actually part of Ohio Savings Bank. If I lived in Ohio, I could walk into a branch to handle that account, but since I live in NJ and did it online, I count that as online banking.

Another example - My mother has an account with Countrywide Bank. We opened the account online. We do any transactions online. There happens to be a branch office near our homes, though, and she did go in there once or twice to ask questions about her account (though not to actually transact business). I still count that as an online bank.

**MonkeyMama** · 10-03-2008, 05:05 AM

It is blurry - exactly what I was going to say. I believe my "online savings bank" is also an arm of a B&M bank. As many are.

I have a lot of bank accounts in other areas of the country where I could not bank if they did not have online banking options. Well, maybe I could, but not so easily anyway. I probably wouldn't be banking with them though, if they didn't have such an online presence.

Online or Brick and Mortar?