Bye, Bye Bank?

Bye, Bye Bank?
News about consumers' discontent with banks has been pervasive in the media, and a new report published by market and consumer intelligence firm Mintel found that consumers might be willing to act on that dissatisfaction and look for alternatives to their traditional checking accounts.

In Mintel's recent survey, 19% of respondents overall stated that they would be interested in using prepaid cards to pay bills, rather than a banking account. More importantly, 25% of households earning more than $100K per year, the more profitable and desirable customers for banks, agreed that they would be interested in using prepaid cards. Their main motivation was to avoid overdraft and/or other types of banking fees.