Consumers were asked to indicate their status and feelings about having a no minimum balance, high rate Internet access savings account.

One-fifth (22%) of all households indicate that they do not currently use a  Internet access savings account, but they would consider such an account if the rate was good. 

Two-thirds (65%) of all households report that they would not consider using an Internet-only savings account. 

To order a full report on consumer deposit account trends, click here.

About RFG’s national consumer research

Financial institutions receive national consumer research through RFG’s Strategic Planning Study Group (SPSG), a marketing research program consisting of semi-annual consumer surveys on current industry topics derived from RFG’s research process.

Based upon 1,155 survey responses of a randomly drawn sample of members of a nationally representative direct mail panel, the consumer responses used in this study were weighted to reflect the nation’s demographic composition. The study’s confidence interval for any proportion gathered in the survey is in a range of 1.7% to 2.9% at the 95% level of confidence.

For more information about RFG’s national consumer research, visit www.raddon.com/spsg.

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