Willingness to change primary banks varied greatly across generations in the United Kingdom (UK) in the third quarter of 2024. According to Statista's Consumer Insights, Millennials were the most likely to change their primary banks, with 35 percent of the respondents indicating willingness to switch banks on the next possible occasion. Millennials were followed by Gen Z, with 28 percent of the bank account holders born between 1995 and 2012 likely to change banks.
Share of customers willing to change their primary banks in the United Kingdom (UK) in 3rd quarter 2024, by generation
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.
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Statista. (October 7, 2024). Share of customers willing to change their primary banks in the United Kingdom (UK) in 3rd quarter 2024, by generation [Graph]. In Statista. Retrieved December 18, 2024, from https://www.statista.com/statistics/1401150/willingness-to-change-primary-bank-in-the-uk-by-generation/
Statista. "Share of customers willing to change their primary banks in the United Kingdom (UK) in 3rd quarter 2024, by generation." Chart. October 7, 2024. Statista. Accessed December 18, 2024. https://www.statista.com/statistics/1401150/willingness-to-change-primary-bank-in-the-uk-by-generation/
Statista. (2024). Share of customers willing to change their primary banks in the United Kingdom (UK) in 3rd quarter 2024, by generation. Statista. Statista Inc.. Accessed: December 18, 2024. https://www.statista.com/statistics/1401150/willingness-to-change-primary-bank-in-the-uk-by-generation/
Statista. "Share of Customers Willing to Change Their Primary Banks in The United Kingdom (Uk) in 3rd Quarter 2024, by Generation." Statista, Statista Inc., 7 Oct 2024, https://www.statista.com/statistics/1401150/willingness-to-change-primary-bank-in-the-uk-by-generation/
Statista, Share of customers willing to change their primary banks in the United Kingdom (UK) in 3rd quarter 2024, by generation Statista, https://www.statista.com/statistics/1401150/willingness-to-change-primary-bank-in-the-uk-by-generation/ (last visited December 18, 2024)
Share of customers willing to change their primary banks in the United Kingdom (UK) in 3rd quarter 2024, by generation [Graph], Statista, October 7, 2024. [Online]. Available: https://www.statista.com/statistics/1401150/willingness-to-change-primary-bank-in-the-uk-by-generation/
