A MarketWatch Guides survey found that 56% of Americans primarily use mobile apps for banking, with only 16% visiting physical branches. Neobanks are gaining popularity, but not everyone has made the switch yet. Consider the benefits of online banking, like lower fees and better rates, as highlighted by experts.

Traditional banks may charge higher fees to cover physical location costs, even if you rarely visit in person. Online banks and neobanks offer lower fees and better rates due to not having physical branches. Consider the potential savings by switching to a digital-only bank.

Online banks prioritize digital security and offer advanced features like fraud monitoring and biometric authentication. This can save you money by preventing fraud issues. Additionally, digital banks generally provide a better user experience with instant notifications and 24/7 support.

Online banks cater to the digital demands of younger customers, offering convenience and efficiency in banking transactions. Consider reviews of online banks or neobanks to ensure smooth handling of your finances. Switching to online banking can align with your banking habits and make tasks like bill payment and fund transfers easier.

Online banks also offer higher-quality budgeting tools and financial insights, helping you manage your finances better. They provide faster service, greater control over your finances, and easy access to financial advice. With the digital experience, you can get advice on debt repayment, home buying, and retirement planning more efficiently.

Neobanks facilitate management of multiple currencies and access to crypto assets, adapting to modern financial habits. They offer flexibility in managing finances and investing, which traditional banks may struggle to provide. Consider switching to an account that meets your financial needs and preferences.

Read more at Yahoo Finance: 7 Reasons You Should Ditch Your Traditional Bank for an Online Bank or Neobank in 2025