The data: Among consumers who are more engaged with financial services brands, 43% said a letter in an envelope is the direct-mail format they’re most likely to read, according to Lob’s 2026 State of Direct Mail report. Letters in envelopes outpaced any other type of physical mailer by a wide margin.

Among more-engaged consumers, three-quarters said they typically read or save financial services mail. Nearly one-third said receiving direct mail makes a financial services brand feel more credible—including 43% of Gen Zers.

Why it matters: For communications involving customers’ money, an enclosed letter can signal privacy, importance, and legitimacy more effectively than a format that looks overtly promotional.

That could make letters particularly useful during high-consideration financial moments that banks are privy to, such as after an inquiry about a loan, when customers have started—but not finished—a credit application, or if banks see transactions that could point to major lifestage changes. 

Lob didn’t measure whether direct mail is more effective than email, mobile alerts, or other channels. But physical mail can play a distinct role within a bank’s broader communications strategy, especially when credibility and careful consideration matter more than immediacy.

Recommendations for banks: Direct mail should complement digital outreach rather than function as a mass-marketing throwback. Banks can use customer behavior and life-event signals to reserve enclosed letters for communications that are timely, personalized, and useful.

Each letter should also provide a simple bridge to the next step, whether that’s scanning a QR code or contacting a banker. The envelope may earn attention, but the relevance of what’s inside—and the ease of acting on it—will determine whether that attention produces results.

And remember: Execution is also key. Selecting the right format won’t help if campaigns arrive late or cannot be connected to customer actions. 87% of businesses encountered logistical challenges with direct mail, while 82% experienced surprise costs or missed deadlines, per Lob. 

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