Average Brit hasn’t visited a bank branch in two years
A poll of 2,000 adults with at least one bank account found the average person last visited a bank branch a year and 10 months ago and that most were more likely to phone their bank or communicate any issues via social media, rather than indulge in face-to-face contact.
The survey found that just 12% of people quizzed would visit their local branch while 3% said they would hope the issue would resolve itself.
Discount website VoucherCodesPro also asked respondents what bank-related interactions they’ve been able to stop in the past year due to technological advancements in banking. Nearly nine in 10 said they hadn’t written a cheque and 47% said they haven’t had to pay in a cheque at the bank. When asked about the last time they had written a cheque, 52% admitted they had never written one or even had a cheque book.
Just over half (52%) said they hadn’t needed to pay money directly into their bank while 68% said they hadn’t spoken with a branch employee in that time.
As a result, 65% said they feel bank branches were more directed at the elderly and 55% believe bank branches will disappear from the high-street within the next 10 to 15 years. A further 30% think the next generation will have no need for local branches at all.
George Charles of VoucherCodesPro said: “It’s a harsh reality that one day there’s going to be no need for actual cash. Think about it; the majority of shopping these days is either done online or, in the very least, paid for by card. Carrying cash just isn’t the most popular method these days. Whilst there will forever be a need for banks, we may not see local branches on our high street in 5, 10 or 20 years’ time.”