Breaking News
More () »

Online or in-person? Most adults turning to digital banking rather than seeing their teller

Last year, nearly 80% of adults said they would rather bank using a mobile app or website.

CHARLOTTE, N.C. — A Forbes article broke down some numbers as to how people are saving and included a way to make money on what you already have. 

Let's get into it.

Forbes said the average account balance people have is about $5,300 in the bank. That number includes all checking, savings, money market and call deposit accounts, as well as prepaid debit cards.

Only 6% of people across the country don't have a bank account at all. It's a low number, but that is an increase from 2020. As for preference, the majority of Americans are now on board with digital banking. Last year, nearly 80% of adults said they would rather bank using a mobile app or website.

Only 29% of Americans prefer to bank in person. For money-making tips, ask your local bank or credit union about their offers on certificate of deposit accounts. 

They work a lot like savings accounts, paying you interest the longer you let the money sit there. 

Unlike a savings account, you usually have to wait anywhere between one month and several years before making that first withdrawal. However, CD rates are going up. This means putting money away for a year or two may be worth the payout later. 

Contact Kia Murray at kmurray@wcnc.com and follow her on FacebookX and Instagram.

WCNC Charlotte's Where's The Money series is all about leveling the playing in the Carolinas by helping others and breaking down barriers. WCNC Charlotte doesn't want our viewers to be taken advantage of, so we’re here to help. Watch previous stories where we ask the question “Where’s the Money” in the YouTube playlist below and subscribe to get updated when new videos are uploaded. 

Wake Up Charlotte To Go is a daily news and weather podcast you can listen to so you can start your day with the team at Wake Up Charlotte.   
SUBSCRIBE: Apple Podcasts || Spotify || Pandora || TuneIn || Google Podcasts || iHeart 

All of WCNC Charlotte's podcasts are free and available for both streaming and download. You can listen now on Android, iPhone, Amazon, and other internet-connected devices. Join us from North Carolina, South Carolina, or on the go anywhere. 

Before You Leave, Check This Out