Here's What Happens When You Only Do Your Banking Online

These days, many Americans are opting to do their banking online. And it's easy to see why.

If your bank has a user-friendly app, you can do things like pay bills or move money from checking to your savings account with ease. And doing all of those things digitally can be a huge time saver.

But despite the convenience of online banking, many consumers still prefer physical banks. In fact, according to a recent survey by UserTesting, 83% of respondents said they prefer traditional banks over online banks. The main reason? They want the option to speak to a bank teller in person rather than have to access customer service over the phone or via chat.

But not having access to face-to-face customer service isn't the only drawback of only banking online. There are some other things you might miss out on, too.

Notary services

There may come a point when you need to get a document notarized. If you're starting a small business, for example, you may need certain legal or incorporation documents notarized to get that venture off the ground.

When you bank at a brick-and-mortar establishment, you generally get access to a notary -- and often, for free. If you only bank online, you might need to hunt down a notary when you need one and then pay them a fee for their service.

Safe deposit boxes

You may have certain documents you want to keep in a secure location, like the deed to your house or a copy of your will. The upside of having an account at a physical bank is that you'll generally have the option to open a safe deposit box there.

Granted, you'll usually be charged a fee for that service, but it's an option nonetheless. If you only bank online, you might struggle to find a secure place to house important documents. (Do note that in many cases, you need an account at a given bank to be able to open a safe deposit box there, though that may not always be the case.)

Easy access to ATMs

Online banks generally give customers access to a network of ATMs. After all, you need some way to be able to withdraw cash when you need it.

But if you only bank online, you may find that it's difficult to find an ATM that's convenient to where you live or work. And if you're forced to withdraw money from an ATM outside of your bank's network, you can expect to pay a fee for the privilege of taking out your money.

There's absolutely nothing wrong with banking online. Quite the contrary -- if you're a busy person with a packed schedule, you might strongly benefit from the convenience of being able to manage your money with an app rather than have to go to the bank all the time. But you may want to consider opening a bank account at a brick-and-mortar establishment in addition to banking online. That way, you get the best of both worlds.