Online-only: One in four in UK would use bank with no branch

Online-only banking is especially popular with 25 to 34 year-olds (Source: AFP/Getty Images)
One in four British customers would be happy to use an online-only bank with no physical outlets whatsoever, according to a poll released this morning.

The survey by management consultancy Accenture shows that 25 to 34 year-olds are the age bracket keenest on the idea of an entirely digital bank. A third of the group say that they would consider one.

The idea of an online-only bank was more popular with those polled than opening an account with a group like the Post Office. Only 21 per cent said they would happily go to a similar non-bank firm. Even fewer, just 15 per cent were positive about doing their banking with a retailer that offered the service.

The survey also recorded a small upswing in consumer confidence in banks. Just over half, 53 per cent of respondents now find their bank trustworthy. When the question was asked two years ago, only 43 per cent gave the same answer.

“Given all the investment and efforts made by banks, it is encouraging for them that customer perception is improving after falling sharply during the financial crisis,” said Peter Kirk, Accenture’s managing director.

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