Title: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 03:22:07 PM
Post by: Anonymous on February 10, 2016, 03:22:07 PM
I seldom visit a bank anymore, but I would not know how to survive without my bank accounts..
Where is their pay deposited to?
71% would rather go to the dentist than listen to what banks say.
33% believe they won't need a bank in five years.
71% consider their banking relationship to be transactional rather than relationship-driven.
33% are open to switching banks within the next 90 days.
Millennials are increasingly using online payment methods in place of cash and checks:
47% of consumers have already transferred money to someone electronically.
43% list online banking as the first or second most valuable aspect of their day-to-day banking experience; 23% list mobile banking.
Mobile payments are expected to reach close to $90 billion by 2017
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 04:20:51 PM
Post by: Anonymous on February 10, 2016, 04:20:51 PM
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 07:42:20 PM
Post by: Anonymous on February 10, 2016, 07:42:20 PM
Title: Re: American millennials are not using banks
Post by: RW on February 10, 2016, 07:53:03 PM
Post by: RW on February 10, 2016, 07:53:03 PM
Credit unions are the way to go IMHO. I personally have never had an account at a bank.
That said, I still have my account in Vancouver even though I don't live there and haven't been in a branch in probably 9 years or so. Everything I need to do can be done by online banking, phone or mail.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 08:09:20 PM
Post by: Anonymous on February 10, 2016, 08:09:20 PM
Why would any parent expect their kids to support them in retirement?Quote from: "RW"
Credit unions are the way to go IMHO. I personally have never had an account at a bank.
That said, I still have my account in Vancouver even though I don't live there and haven't been in a branch in probably 9 years or so. Everything I need to do can be done by online banking, phone or mail.
It's the other way around now. Retiring parents will still have grown kids that cannot stand on their own two feet.
I use banks because I have access to a very low interest line of credit, and I get charged next to nothing for fees because I have a certain amount invested through them. It doesn't matter anyway because I do most of my banking from home. Cash is for the bar.
Title: Re: American millennials are not using banks
Post by: RW on February 10, 2016, 08:14:55 PM
Post by: RW on February 10, 2016, 08:14:55 PM
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 08:18:53 PM
Post by: Anonymous on February 10, 2016, 08:18:53 PM
Boomer kids were spoiled now their kids are completely useless. It will sort out.Quote from: "RW"
I was born after the boomers, but I agree that the under thirties are scared of growing up.
Title: Re: American millennials are not using banks
Post by: RW on February 10, 2016, 08:23:36 PM
Post by: RW on February 10, 2016, 08:23:36 PM
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 08:27:13 PM
Post by: Anonymous on February 10, 2016, 08:27:13 PM
Why would any parent expect their kids to support them in retirement?Quote from: "RW"
Credit unions are the way to go IMHO. I personally have never had an account at a bank.
That said, I still have my account in Vancouver even though I don't live there and haven't been in a branch in probably 9 years or so. Everything I need to do can be done by online banking, phone or mail.
I bank online too, but how does somebody not have an account at a bank or credit union?
Where is their pay deposited?
Title: Re: American millennials are not using banks
Post by: RW on February 10, 2016, 08:28:50 PM
Post by: RW on February 10, 2016, 08:28:50 PM
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 08:30:07 PM
Post by: Anonymous on February 10, 2016, 08:30:07 PM
Your parents weren't boomers?Quote from: "RW"
Boomers is 1946-1964 I think. My folks would have been outside it.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 08:36:19 PM
Post by: Anonymous on February 10, 2016, 08:36:19 PM
Define "millennial". What age range are they counting?Quote from: "RW"
I feel they are talking about generation Y..
It varies, but ranging from a very low end of 1980's to early 2000's depending on who you ask.
Myself, I think of people born in the early nineties as gen Y.
Some people call them the Peter Pan generation or boomerang generation.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 09:31:15 PM
Post by: Anonymous on February 10, 2016, 09:31:15 PM
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 09:43:39 PM
Post by: Anonymous on February 10, 2016, 09:43:39 PM
The boomerangers like to delay rites of passage into adulthood as long as they can.Quote from: "Herman"
This is particularly true in the developed countries of Asia Herman.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 09:58:19 PM
Post by: Anonymous on February 10, 2016, 09:58:19 PM
The boomerangers like to delay rites of passage into adulthood as long as they can.Quote from: "Herman"
This is particularly true in the developed countries of Asia Herman.
Yeah, I know. Let's face it, in Asia, it's usually women with the Peter Pan syndrome. They'll be 35 years old, live at home and contribute nothing, go clubbing every weekend, work for a while, quit and go live abroad for a year or two. All with financial assistance from their parents. Unlike here though, they will have credit cards and savings.
Title: Re: American millennials are not using banks
Post by: Bricktop on February 10, 2016, 10:23:17 PM
Post by: Bricktop on February 10, 2016, 10:23:17 PM
Boomer kids were spoiled now their kids are completely useless. It will sort out.Quote from: "RW"
Boomer kids were actually deprived...hence the spoiling of our brats.
You're from a boomer, aren't you?
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 10:30:49 PM
Post by: Anonymous on February 10, 2016, 10:30:49 PM
Title: Re: American millennials are not using banks
Post by: Anonymous on February 10, 2016, 11:35:05 PM
Post by: Anonymous on February 10, 2016, 11:35:05 PM
Here's a chart to explain the different generations.Quote from: "Fashionista"(//%3C/s%3E%3CURL%20url=%22http://cdn.theatlantic.com/assets/media/img/posts/2014/03/generations3/30ebe0c8d.png%22%3E%3CLINK_TEXT%20text=%22http://cdn.theatlantic.com/assets/media%20...%20be0c8d.png%22%3Ehttp://cdn.theatlantic.com/assets/media/img/posts/2014/03/generations3/30ebe0c8d.png%3C/LINK_TEXT%3E%3C/URL%3E%3Ce%3E)
Not all that clear after the boomers.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 11, 2016, 01:06:49 PM
Post by: Anonymous on February 11, 2016, 01:06:49 PM
Here's a chart to explain the different generations.Quote from: "Fashionista"(//%3C/s%3E%3CURL%20url=%22http://cdn.theatlantic.com/assets/media/img/posts/2014/03/generations3/30ebe0c8d.png%22%3E%3CLINK_TEXT%20text=%22http://cdn.theatlantic.com/assets/media%20...%20be0c8d.png%22%3Ehttp://cdn.theatlantic.com/assets/media/img/posts/2014/03/generations3/30ebe0c8d.png%3C/LINK_TEXT%3E%3C/URL%3E%3Ce%3E)
Not all that clear after the boomers.
It appears I am a gen Xer.
Title: Re: American millennials are not using banks
Post by: RW on February 11, 2016, 01:43:45 PM
Post by: RW on February 11, 2016, 01:43:45 PM
Title: Re: American millennials are not using banks
Post by: Renee on February 11, 2016, 02:58:20 PM
Post by: Renee on February 11, 2016, 02:58:20 PM
So am I. Woot!Quote from: "RW"
Don't you fall on the overlap with "Y"?
I was born in 73 so I'm an "X".
Title: Re: American millennials are not using banks
Post by: Anonymous on February 11, 2016, 03:10:28 PM
Post by: Anonymous on February 11, 2016, 03:10:28 PM
Title: Re: American millennials are not using banks
Post by: Renee on February 11, 2016, 03:25:42 PM
Post by: Renee on February 11, 2016, 03:25:42 PM
I was born in 84, so I overlap gen X and gen Y.Quote from: "Shen Li"
Actually according to the previously posted chart, you are an "X" a "Y" and a Mellennial.
So you are all fucked up.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 11, 2016, 03:47:27 PM
Post by: Anonymous on February 11, 2016, 03:47:27 PM
I was born in 84, so I overlap gen X and gen Y.Quote from: "Shen Li"
Actually according to the previously posted chart, you are an "X" a "Y" and a Mellennial.
So you are all fucked up.:laugh3:
Aren't Generation Y and millennials the same?
It's a bit confusing.
Title: Re: American millennials are not using banks
Post by: Renee on February 11, 2016, 04:14:38 PM
Post by: Renee on February 11, 2016, 04:14:38 PM
I was born in 84, so I overlap gen X and gen Y.Quote from: "Shen Li"
Actually according to the previously posted chart, you are an "X" a "Y" and a Mellennial.
So you are all fucked up.:laugh3:
Aren't Generation Y and millennials the same?
It's a bit confusing.
:scratchhead(2):
Yes it is confusing. I think the two seem interchangeable.
Whatever you call them, they're all slackers and narcissists.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 11, 2016, 04:43:34 PM
Post by: Anonymous on February 11, 2016, 04:43:34 PM
I was born in 84, so I overlap gen X and gen Y.Quote from: "Shen Li"
Actually according to the previously posted chart, you are an "X" a "Y" and a Mellennial.
So you are all fucked up.:laugh3:
Aren't Generation Y and millennials the same?
It's a bit confusing.
:scratchhead(2):
Yes it is confusing. I think the two seem interchangeable.
Whatever you call them, they're all slackers and narcissists.:laugh3:
Title: Re: American millennials are not using banks
Post by: Twenty Dollars on February 11, 2016, 05:56:40 PM
Post by: Twenty Dollars on February 11, 2016, 05:56:40 PM
They sponge off their parents, they're narcissists, they want to rise quickly but don't want to stick around, want more perks but less face time and entitled brats that think English lit degree should equal a great job. I know, I am the father of a millennial. I am glad I have been putting money aside for my old age. I feel sorry for anyone in my generation that is counting my son's generation paying for their retirement.Quote from: "Herman"
I see few that worry about it. Even social security. Cash is king most of the time, and at the moment. Having a legit job was sometimes a struggle, but thank you me. The real nice kid that rents my casita is 44. Never paid a dime into S.S. All of his work is on a cash basis, and tips. He never worries a bout it and doesn't care. 7 months here, 5 month somewhere else.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 11, 2016, 06:10:25 PM
Post by: Anonymous on February 11, 2016, 06:10:25 PM
They sponge off their parents, they're narcissists, they want to rise quickly but don't want to stick around, want more perks but less face time and entitled brats that think English lit degree should equal a great job. I know, I am the father of a millennial. I am glad I have been putting money aside for my old age. I feel sorry for anyone in my generation that is counting my son's generation paying for their retirement.Quote from: "Herman"
I see few that worry about it. Even social security. Cash is king most of the time, and at the moment. Having a legit job was sometimes a struggle, but thank you me. The real nice kid that rents my casita is 44. Never paid a dime into S.S. All of his work is on a cash basis, and tips. He never worries a bout it and doesn't care. 7 months here, 5 month somewhere else.
Aha, he's a drug dealer.
Title: Re: American millennials are not using banks
Post by: Bricktop on February 11, 2016, 06:21:57 PM
Post by: Bricktop on February 11, 2016, 06:21:57 PM
Title: Re: American millennials are not using banks
Post by: RW on February 11, 2016, 06:33:49 PM
Post by: RW on February 11, 2016, 06:33:49 PM
So am I. Woot!Quote from: "RW"
Don't you fall on the overlap with "Y"?
I was born in 73 so I'm an "X".
I'm a '79er baby.
"Old lady" status. *shakes fist at Herman*
Title: Re: American millennials are not using banks
Post by: Anonymous on February 11, 2016, 06:35:16 PM
Post by: Anonymous on February 11, 2016, 06:35:16 PM
So am I. Woot!Quote from: "RW"
Don't you fall on the overlap with "Y"?
I was born in 73 so I'm an "X".
I'm a '79er baby.
"Old lady" status. *shakes fist at Herman*
Title: Re: American millennials are not using banks
Post by: Twenty Dollars on February 11, 2016, 06:36:50 PM
Post by: Twenty Dollars on February 11, 2016, 06:36:50 PM
They sponge off their parents, they're narcissists, they want to rise quickly but don't want to stick around, want more perks but less face time and entitled brats that think English lit degree should equal a great job. I know, I am the father of a millennial. I am glad I have been putting money aside for my old age. I feel sorry for anyone in my generation that is counting my son's generation paying for their retirement.Quote from: "Herman"
I see few that worry about it. Even social security. Cash is king most of the time, and at the moment. Having a legit job was sometimes a struggle, but thank you me. The real nice kid that rents my casita is 44. Never paid a dime into S.S. All of his work is on a cash basis, and tips. He never worries a bout it and doesn't care. 7 months here, 5 month somewhere else.
Aha, he's a drug dealer.
He's a pretty good kid, But I don't know. Bar tender @ Bokas in Langosta.. Herm
Title: Re: American millennials are not using banks
Post by: Anonymous on February 11, 2016, 06:37:38 PM
Post by: Anonymous on February 11, 2016, 06:37:38 PM
They sponge off their parents, they're narcissists, they want to rise quickly but don't want to stick around, want more perks but less face time and entitled brats that think English lit degree should equal a great job. I know, I am the father of a millennial. I am glad I have been putting money aside for my old age. I feel sorry for anyone in my generation that is counting my son's generation paying for their retirement.Quote from: "Herman"
I see few that worry about it. Even social security. Cash is king most of the time, and at the moment. Having a legit job was sometimes a struggle, but thank you me. The real nice kid that rents my casita is 44. Never paid a dime into S.S. All of his work is on a cash basis, and tips. He never worries a bout it and doesn't care. 7 months here, 5 month somewhere else.
Aha, he's a drug dealer.
He's a pretty good kid, But I don't know. Bar tender @ Bokas in Langosta.. Herm
Or so he says.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 11, 2016, 07:58:00 PM
Post by: Anonymous on February 11, 2016, 07:58:00 PM
They sponge off their parents, they're narcissists, they want to rise quickly but don't want to stick around, want more perks but less face time and entitled brats that think English lit degree should equal a great job. I know, I am the father of a millennial. I am glad I have been putting money aside for my old age. I feel sorry for anyone in my generation that is counting my son's generation paying for their retirement.Quote from: "Herman"
I see few that worry about it. Even social security. Cash is king most of the time, and at the moment. Having a legit job was sometimes a struggle, but thank you me. The real nice kid that rents my casita is 44. Never paid a dime into S.S. All of his work is on a cash basis, and tips. He never worries a bout it and doesn't care. 7 months here, 5 month somewhere else.
Aha, he's a drug dealer.
It does seem suspicious.
Title: Re: American millennials are not using banks
Post by: Twenty Dollars on February 12, 2016, 08:35:51 AM
Post by: Twenty Dollars on February 12, 2016, 08:35:51 AM
They sponge off their parents, they're narcissists, they want to rise quickly but don't want to stick around, want more perks but less face time and entitled brats that think English lit degree should equal a great job. I know, I am the father of a millennial. I am glad I have been putting money aside for my old age. I feel sorry for anyone in my generation that is counting my son's generation paying for their retirement.Quote from: "Herman"
I see few that worry about it. Even social security. Cash is king most of the time, and at the moment. Having a legit job was sometimes a struggle, but thank you me. The real nice kid that rents my casita is 44. Never paid a dime into S.S. All of his work is on a cash basis, and tips. He never worries a bout it and doesn't care. 7 months here, 5 month somewhere else.
Aha, he's a drug dealer.
It does seem suspicious.ac_umm
What seems suspicious? He's a surfer/bar tender who has few cares in life, but no S.S. or thoughts of a pension. Must have the same types where you live. Ski bumbs?
Title: Re: American millennials are not using banks
Post by: RW on February 12, 2016, 10:21:55 AM
Post by: RW on February 12, 2016, 10:21:55 AM
Title: Re: American millennials are not using banks
Post by: Anonymous on February 12, 2016, 10:36:15 AM
Post by: Anonymous on February 12, 2016, 10:36:15 AM
They sponge off their parents, they're narcissists, they want to rise quickly but don't want to stick around, want more perks but less face time and entitled brats that think English lit degree should equal a great job. I know, I am the father of a millennial. I am glad I have been putting money aside for my old age. I feel sorry for anyone in my generation that is counting my son's generation paying for their retirement.Quote from: "Herman"
I see few that worry about it. Even social security. Cash is king most of the time, and at the moment. Having a legit job was sometimes a struggle, but thank you me. The real nice kid that rents my casita is 44. Never paid a dime into S.S. All of his work is on a cash basis, and tips. He never worries a bout it and doesn't care. 7 months here, 5 month somewhere else.
Aha, he's a drug dealer.
It does seem suspicious.ac_umm
What seems suspicious? He's a surfer/bar tender who has few cares in life, but no S.S. or thoughts of a pension. Must have the same types where you live. Ski bumbs?
It's a joke TD, lighten up.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 12, 2016, 03:35:34 PM
Post by: Anonymous on February 12, 2016, 03:35:34 PM
Oh God do we have ski bums! Damn Australians.Quote from: "RW"
Banff/Canmore too. Quebeckers and Japanese girls as well.
Title: Re: American millennials are not using banks
Post by: Bricktop on February 14, 2016, 11:25:40 PM
Post by: Bricktop on February 14, 2016, 11:25:40 PM
Title: Re: American millennials are not using banks
Post by: cc on February 15, 2016, 12:44:36 AM
Post by: cc on February 15, 2016, 12:44:36 AM
Title: Re: American millennials are not using banks
Post by: Anonymous on February 15, 2016, 12:51:49 AM
Post by: Anonymous on February 15, 2016, 12:51:49 AM
Title: Re: American millennials are not using banks
Post by: Anonymous on February 15, 2016, 10:52:19 AM
Post by: Anonymous on February 15, 2016, 10:52:19 AM
I'm a generation Y. I didn't even know that.Quote from: "Dove"
Hello Dove, it's so nice to see you here again..
I hope you had a lovely Valentine's Day.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 15, 2016, 11:36:30 PM
Post by: Anonymous on February 15, 2016, 11:36:30 PM
Eh, it was alright. Honestly, we typically don't bother with it. I hope you did, though!I'm a generation Y. I didn't even know that.Quote from: "Dove"
Hello Dove, it's so nice to see you here again..
I hope you had a lovely Valentine's Day.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 15, 2016, 11:50:37 PM
Post by: Anonymous on February 15, 2016, 11:50:37 PM
I'm a generation Y. I didn't even know that.Quote from: "Dove"
Hello Dove, it's so nice to see you here again..
I hope you had a lovely Valentine's Day.
I went out for an afternoon meal with my husband.
Title: Re: American millennials are not using banks
Post by: Anonymous on February 19, 2016, 10:01:08 PM
Post by: Anonymous on February 19, 2016, 10:01:08 PM
