FIS surveyed more than 1,000 Americans about their banking and financial habits in the past 12 months since the pandemic began. The results showed that 1 in 5 people started using a new banking provider since the COVID-19 pandemic began. 33% of those who joined a new bank were looking for better benefits such as higher savings yields and rewards, while 7% of consumers said they did so to access COVID-19 relief.
37% of those surveyed opted for a large national or global bank when starting a new banking relationship in the past year. Credit unions were the second-most popular choice for consumers with 18% opening accounts at these institutions.
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