Majority don’t do banking in branch

In the pandemic, banking has changed. According to a study, more and more people are using online banking. This also shows what is valued and what is not.

The days when people still went to the bank branch for their financial transactions are over. According to a survey, the majority of bank customers in Germany now do most of their banking on their PC or smartphone. The trend has even intensified over the past two years.

“The pandemic has given online banking a powerful boost. Our latest survey shows: 56 percent of respondents already conduct their banking transactions primarily online or via smartphone,” said Christian Ossig, Chief Executive Officer of the Association of German Banks (BdB), summarizing the results of the survey, which has now been published. Earlier, the newspapers of the Funke media group had reported on it.

A good third (35 percent) of the slightly more than 1,000 adults surveyed by the Kantar Institute use a computer or laptop for banking transactions such as account inquiries and transfers. 21 percent do this primarily via an app on their smartphone. According to the survey, a quarter (25 percent) prefer to go to the counter in the branch.

Security is a priority in banking

Among 18- to 29-year-olds, the proportion of those who primarily conduct banking transactions on the move is particularly high at 48 percent. The proportion of those over 60 who remain loyal to the branch is almost as high at 45 percent.

According to the survey, the most important thing for bank customers when choosing their channel is that they can carry out their banking transactions securely (84 percent). According to the survey, personal contact with staff at the bank or savings bank is not as important to the majority (41 percent). More than 60 percent of respondents consider online banking to be very secure or secure. 30 percent have reservations.