Banks: just big ATMs?

April 5, 1999

A vast majority of professional women think of banks as mere cash machines - and nothing more.

According to a poll conducted by Stern Marketing Group, 84 percent of the 100 professional women surveyed view their bank as a place for checking and short-term saving only.

Some 90 percent exclude their bank as a source of financial advice.

When asked what resources they would use for advice on planning and managing their household's long-term finances, 47 percent said financial planners (tax consultants or stock brokers); 28 percent use magazines newspapers, or books; and 25 percent use the Internet.

The survey also found that 55 percent of the women polled have sole responsibility for making financial decisions in their household.