Over a quarter of Brits now have a digital-only bank account | Verdict

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Over a quarter of UK adults have at least one bank account with a digital-only bank, according to research by personal finance comparison site Finder.
Over a quarter of UK adults have at least one bank account with a digital bank, according to research by personal finance comparison site Finder.

As of January 2021, 14 million Brits have an account with a digital bank, and this number could increase by almost 10 million over the next 5 years.

Finder surveyed 2,000 people in the UK and found that 27% of British adults have opened an account with a digital-only bank, a percentage increase of 16% on last year's figures and three times the number of Brits who had one in January 2019.

According to Finder, 5.7 million Brits plan on opening a digital banking account in 2021, and the number of people in the UK with a digital bank account could reach 23 million by 2026.

Convenience was the most popular reason given for making the switch to a digital bank account, with better rates and receiving real-time spending notifications also emerging as popular reasons.

As expected, the number of…
Ellen Daniel
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