A passbook savings account used to be a staple of banks, and it was often a child's first experience with banking. But times have changed.

In Bankrate's exclusive survey of passbook and statement savings accounts, only 37 of 100 banks and savings banks still offer these accounts. In last fall's survey, 38 of 100 offered them.

In fact, for many banks, passbooks are a distant memory. When an interview with Bank of America to discuss the demise of passbook accounts was requested, the media relations representative quipped, "Do you mean the type -- as I recall from my youth -- where deposits are date-stamped actually in the savings book?" Other banks that no longer have passbook accounts indicated that no one could speak on the subject. 

A Wells Fargo spokesman explains the bank's move away from passbooks as embracing technology and delivering more customer service.

"Wells Fargo replaced passbooks many years ago. Passbooks existed when there were no phone banks, ATMs or the Internet. In many respects we have simply capitalized on new technologies -- similar to the airlines going to electronic tickets," he says. "In doing so we have provided our customers with a variety of ways to check on their funds, many 24 hours a day. With online banking, customers can look at the status of all their accounts instaneously. They can also use the automated phone bank or speak to a phone banker. In addition, customers can check balances at ATMs. And of course, they can always visit their local Wells Fargo store if they want that human touch."

Geographic differences
Most of the institutions that still offer passbook accounts are thrifts and tend to be in the Northeast region. For example, in the New York metropolitan area, two of the five banks surveyed have passbook accounts and four of the five savings banks do. In Boston, four of five banks and savings banks of the 10 surveyed have passbook accounts.

By contrast, only one of the 10 banks and savings banks surveyed in the Dallas and Houston areas offers passbook savings accounts, and two of 10 in Chicagoland have them.

Statement savings accounts are available at every bank and savings bank surveyed, except World Savings Bank -- which offers passbook accounts in every market it serves.

Wachovia, which has acquired World Savings Bank, still offers passbook accounts in some of its markets, such as the Northeast and Florida.

"We tried to discontinue passbooks several years ago, but a certain customer base said they wanted them," says Lisa Brewer, vice president for deposits at Wachovia. "They said, 'Don't take my passbook away or I'll take my account away.' I think it's probably an older customer base that really likes those accounts."

Statement savings rule
So what took the place of passbook accounts? Most savings accounts are tied to checking accounts, and the total balance of savings and checking is used to determine whether monthly fees are charged. Also, most banks allow customers to withdraw money from either checking or savings via ATM cards.

"We have also introduced new types of basic savings products that have replaced the traditional passbook savings account," says the Wells Fargo spokesman. "Our Goal Savings Account is a perfect example. It offers tiered rates, so balances above $1,000 earn more than balances below $1,000. Passbook savings typically offered a flat rate."

For banks, the cost of the books themselves, plus the time it took for a teller to enter the deposit, stamp it and initial it, contributed to making passbooks passe. And no doubt consumers realized passbooks were not convenient: You had to bring the book to the bank, stand in line to make a deposit and have the passbook filled out by a teller. And consumers with statement savings accounts still get a monthly record of transactions via their bank statements.

The rise of online banking was probably the nail in the coffin of many passbook accounts: If a customer can check the deposits and withdrawals on a computer every day, who needs to record transactions in a passbook?