More than half of consumers shopping for a new bank only want to compare institutions that fall within 5 miles of their location. But there’s a big difference between urban and rural shoppers.
Today, most consumers prefer to do research online when they’re shopping for a new checking account or banking relationship. The internet enables people to cast a wide net and investigate all options available to them. FindABetterBank (a Novarica website) attracts consumers who use search engines precisely for this task. The comparison tool on FindABetterBank lets shoppers control how wide a net to cast by defining the radius of their search. Bank Switchers, Branch Locations and ‘The Five-Mile Rule’