Willingness to change primary banks among Gen Z bank account holders in the United Kingdom (UK) almost doubled between 2019 and 2024. According to Statista's Consumer Insights, the share of bank account holders who were were willing to change their primary bank on the next possible occasion was 30 percent in the second quarter of 2024. The most significant increase took place in 2020, signalling that the spread of neobanks during the COVID-19 pandemic decreased consumer loyalty among the respondents.
Share of Generation Z customers willing to change their primary banks in the United Kingdom (UK) from 1st half 2019 to 2nd quarter 2024
The original question was phrased by the source as follows: "How likely are you going to change your primarily used bank on the next possible occasion? (single-pick)." One selection of the following answers were possible:
- Very likely
- Likely
- Neither likely nor unlikely
- Unlikely
- Very unlikely
- Don't know
The displayed figures were recoded based on the above question. The number of respondents differ in each survey update. More information on the methodology can be found here.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Statista. (July 28, 2024). Share of Generation Z customers willing to change their primary banks in the United Kingdom (UK) from 1st half 2019 to 2nd quarter 2024 [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1401149/gen-z-willingness-to-change-primary-bank-in-the-uk/
Statista. "Share of Generation Z customers willing to change their primary banks in the United Kingdom (UK) from 1st half 2019 to 2nd quarter 2024." Chart. July 28, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1401149/gen-z-willingness-to-change-primary-bank-in-the-uk/
Statista. (2024). Share of Generation Z customers willing to change their primary banks in the United Kingdom (UK) from 1st half 2019 to 2nd quarter 2024. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1401149/gen-z-willingness-to-change-primary-bank-in-the-uk/
Statista. "Share of Generation Z Customers Willing to Change Their Primary Banks in The United Kingdom (Uk) from 1st Half 2019 to 2nd Quarter 2024." Statista, Statista Inc., 28 Jul 2024, https://www.statista.com/statistics/1401149/gen-z-willingness-to-change-primary-bank-in-the-uk/
Statista, Share of Generation Z customers willing to change their primary banks in the United Kingdom (UK) from 1st half 2019 to 2nd quarter 2024 Statista, https://www.statista.com/statistics/1401149/gen-z-willingness-to-change-primary-bank-in-the-uk/ (last visited December 22, 2024)
Share of Generation Z customers willing to change their primary banks in the United Kingdom (UK) from 1st half 2019 to 2nd quarter 2024 [Graph], Statista, July 28, 2024. [Online]. Available: https://www.statista.com/statistics/1401149/gen-z-willingness-to-change-primary-bank-in-the-uk/
