December 7, 2013
Mobile Banks Gaining Popularity With Young Consumers
GoBank is one of a new breed of mobile banking services aiming at fee-averse customers, especially 20-somethings or “millennials,” accustomed to doing everything on their smartphones. Many of them uses it as their sole bank. The New York Times reports.
Turiya Goetze, a 23-year-old teaching assistant in Kansas City, is a fan of a GoBank feature that lets her check her balance quickly on her phone, without having to log into her account. “I love, love, love it!” she said. She doesn’t pay any monthly fee; GoBank lets users choose their fee (from zero to $9 a month), and right now she opts to pay nothing. But she said she may start paying $1 a month, now that she has been using GoBank for a while and likes it. She estimates she would have had to pay about $12 a month with a traditional account.
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