Passbook: Old-Fashioned Savings Passbook savings accounts have been around for more than a century, and although they are waning in popularity, they still are offered by both national and community banks. These types of savings accounts typically don’t require a minimum balance but do require savers to come into the bank to deposit and withdraw money. While most people prefer the convenience of online banking, many still opt for a passbook account for varying reasons. “Passbook savings customers represent all ages and household incomes. Approximately 10% of our savings customers have passbook accounts,” says Geoffrey Thomas, executive vice president and [...]