Consumer opinions on traditional and neobanks in Bulgaria 2022

Nearly half - 47 percent - of the respondents in Bulgaria prefer traditional banks over online banks because they offer better customer service. The same share of respondents favor traditional banks because they enjoy personally visiting the branch and being advised by professionals. This according to a survey carried out in April 2022On the other hand, 42 percent of the respondents agreed that online banks are better because of the lower fees, and 41 percent said that online banks have better digital user experience. Overall, the majority of the respondents agreed that with traditional banks closing, they might switch to an online bank.