Under a fifth (18%) have already switched to a digital-only account and under a quarter (23%) would consider the change if there were perks to the move, according to SumUp.
A further quarter of the 1,500 respondents surveyed said they need more information but would maybe change to a digital bank.
The lack of customers using bank branches has contributed heavily to the openness to going digital and a third (29%) said they hadn’t visited their high street bank.
A further fifth (22%) have only made one or two trips to a branch due opting for more online and app banking.
This year, a slew of major banks have announced closures, with Lloyds, Halifax, Bank of Scotland and NatWest saying they will be calling time on a combined 183 locations.
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The first of the closures in NatWest commenced on 28 April, while Lloyds Banking Group’s closures will end in September.
Santander will also shut almost a quarter of its 444 branches, which will be replaced by ‘Community Bankers’, as well as reducing opening times for 36 branches.
Despite the branch closures – coupled with the surge of mobile and app banking – a third of SumUp’s respondents would not consider the switch as they still prefer the face-to-face assistance that branches offer.
‘A lot of work to convince majority to make the switch’
Nicolas Vrillaud, marketing and growth leader at SumUp, said: “Banking is an integral part of building and running a business, and unfortunately the way it’s delivered is often seen as a pain point by SMEs.
“We conducted this survey to better understand evolving banking preferences in the UK, and observed that whilst digital banking services’ adoption is increasing, there is still a lot of work to be done to convince the majority of consumers and businesses to make the switch.”
