Hispanic Resource Center

Hispanics and their use of bank services

The average Hispanic bank customer goes into a branch nearly four times a month, according to Information From Synergistics Research Corp. in Atlanta. As reported in American Banker Online.

Surprisingly, no single delivery channel—branch, 27%; phone, 29%; ATM, 21%; online, 16%; other, 6%; don’t know, 1%—dominates the delivery channel options that the Hispanic market uses.

Spanish-language brochures and Spanish signage rank as the two most important branch office features. And 65% of respondents said they use branches with Spanish-speaking employees.

Hispanics use automated teller machines five times a month on average. Half the Hispanic consumers who cash checks at bank branches say they did not have a relationship with the institutions.

There are more than 40 million Latinos currently in the United States and that figure is expected to exceed 100 million by 2050.

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