United Kingdom
Research conducted by Comissioned by Oscar Berglund CEO of Trustly
This survey shows that even if European consumer’s online-banking habits differs between the countries, they share a high trust in their bank. There is a demand for an online-banking based payment solution when shopping online. This is encouraging as at Trustly we see the bank account as the hub of people’s financial lives. Country Overview United Kingdom
UK bank customers access their account online in record numbers - high trust in their main bank
While all major banks offer facilities to transfer money, pay bills and manage accounts digitally, many customers still prefer to bank in person, or by phone. Brits still use digital banking to check their balance but are falling behind their European counterparts like Germany, the Netherlands and Sweden in embracing the whole scope of the services available to them online.
Gender Marital Status
51% Married/living 58% with girl-boyfriend Living alone 25% Living with parents 13%
49% Other 4%
Age Groups Consumer habits
23% 21%
91% 94% CHILDREN UNDER 10 CHILDREN AGED 10 TO 18 DOES ONLINE BANKING SHOPS ONLINE
Household Income
100% 22% 14% 17% 13% 8% 8% 10% 0% 4% 2% 1% 1% 1% £0-999 £1000 £2000 £3000 £4000 £5000 £6000 £7000 £8000 £9000 MORE THAN DON'T -1999 -2999 -3999 -4999 -5999 -6999 -7999 -8999 -9999 £10 000 KNOW Q1 Q2 Q3 Which bank(s) are you a Which bank do you consider Which customer of? to be your main bank? accounts/services do you use at the following banks?
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Q4 Q5 Q6 To what extent do you trust What is your overall your main bank? satisfaction with your main bank?
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Q7 Q8 Q9 How often do you use To what extent do you agree To what extent do you online banking with the or disagree with these use your main bank's following banks? statements regarding your online banking services in main bank? the following situations
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Q10 Q11 Q12 What do you use your Approximately how often do What authentication main online bank for? you log in to your main bank methods do you usually use online via the following when logging in to your methods? main bank?
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Q13 Q1 To what extent do you agree or disagree with the following statements with regards to this service Trustly demo)?
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United Kingdom Page 3 © Trustly Group AB Q1 Which bank(s) are you a customer of ?
Percentage (%)
10 20 30 40 50 60 70 80 90 100
Barclays 20%
Halifax 20%
NatWest 19%
Santander UK 19%
Nationwide 18%
HSBC 15%
Lloyds Bank 13%
Lloyds TSB 12%
RBS 6%
Co-operative Bank 6%
Bank of Scotland 5%
First Direct 4%
Other bank 4%
M&S Bank 4%
Yorkshire Bank 4%
Metro Bank 3%
Clydesdale Bank 2%
Post O ce 2%
Smile 1%
Ulster Bank 1%
Cahoot 1%
Handelsbanken 0%
Don't know 0%
Population
United Kingdom Page 34 © Trustly Group AB Q2 Which bank do you consider to be your main bank? Percentage (%)
10 20 30 40 50 60 70 80 90 100
NatWest 14%
Barclays 13%
Santander UK 11%
HSBC 11%
Halifax 10%
Nationwide 9%
Lloyds TSB 7%
Lloyds Bank 7%
RBS 4%
Co-operative Bank 3%
First Direct 2%
Bank of Scotland 2%
Yorkshire Bank 2%
Clydesdale Bank 1%
M&S Bank 1%
Smile 1%
Ulster Bank 0%
Metro Bank 0%
Cahoot 0%
Handelsbanken 0%
Post O ce 0%
Other bank 2%
Population
United Kingdom Page 35 © Trustly Group AB ����
Q3: 1/3 Which accounts/services do you use at the following banks?
80% Current account 80% Current account 51% Savings account 41% Savings account 11% Mortgage loan 8% Mortgage loan 7% Personal loan 5% Personal loan HSBC Bank Barclays 9% Investments Bank 6% Investments 7% Insurance 9% Insurance 8% Other services 9% Other services 2% Don't know 2% Don't know
78% Current account 80% Current account 46% Savings account 43% Savings account 6% Mortgage loan 13% Mortgage loan Lloyds 4% Personal loan Santander 5% Personal loan Bank 6% Investments UK Bank 7% Investments 7% Insurance 1% Insurance 10% Other services 6% Other services ���� 4% Don't know ���� 2% Don't know
61% Current account 52% Current account 37% Savings account 37% Savings account 9% Mortgage loan 22% Mortgage loan Yorkshire 3% Personal loan Clydesdale 13% Personal loan Bank 14% Investments Bank 12% Investments 0% Insurance 5% Insurance 8% Other services 10% Other services 6% Don't know ���� 5% Don't know
47% Current account 63% Current account 43% Savings account 30% Savings account 9% Mortgage loan 5% Mortgage loan Metro 9% Personal loan Co-operative 4% Personal loan Bank 18% Investments Bank 4% Investments 19% Insurance 7% Insurance 7% Other services 10% Other services ���� 11% Don't know ���� 7% Don't know
United Kingdom Page 36 © Trustly Group AB Q3: 2/3 Which accounts/services do you use at the following banks?
81% Current account 64% Current account 60% Savings account 43% Savings account 14% Mortgage loan 6% Mortgage loan Nationwide 8% Personal loan Ulster 6% Personal loan Bank 4% Investments Bank 20% Investments 8% Insurance 10% Insurance 8% Other services 7% Other services �� 1% Don't know ���� 9% Don't know
75% Current account 86% Current account 51% Savings account 50% Savings account 8% Mortgage loan 10% Mortgage loan RBS 6% Personal loan NatWest 6% Personal loan 10% Investments 8% Investments 6% Insurance 8% Insurance 13% Other services 3% Other services �� 4% Don't know ���� 2% Don't know
71% Current account 83% Current account 48% Savings account 45% Savings account 15% Mortgage loan 5% Mortgage loan Halifax 7% Personal loan Lloyds TSB 6% Personal loan Bank 7% Investments Bank 6% Investments 6% Insurance 4% Insurance 10% Other services 9% Other services �� 2% Don't know ���� 2% Don't know
66% Current account 81% Current account 41% Savings account 58% Savings account 14% Mortgage loan 7% Mortgage loan Bank of 2% Personal loan First Direct 10% Personal loan Scotland 18% Investments Bank 14% Investments 7% Insurance 3% Insurance 9% Other services 2% Other services �� 5% Don't know ���� 9% Don't know
United Kingdom Page 37 © Trustly Group AB Q3: 3/3 Which accounts/services do you use at the following banks?
61% Current account 38% Current account 48% Savings account 52% Savings account 7% Mortgage loan 13% Mortgage loan Smile 7% Personal loan Cahoot 0% Personal loan Bank 9% Investments Bank 37% Investments 0% Insurance 13% Insurance 0% Other services 0% Other services �� 15% Don't know ���� 11% Don't know
0% Current account 39% Current account 62% Savings account 40% Savings account 0% Mortgage loan 6% Mortgage loan Handelsbanken 38% Personal loan M&S Bank 3% Personal loan 0% Investments Bank 24% Investments 0% Insurance 6% Insurance 0% Other services 18% Other services �� 0% Don't know ���� 6% Don't know
9% Current account 54% Current account 34% Savings account 53% Savings account 0% Mortgage loan 6% Mortgage loan Post O ce 17% Personal loan 4% Personal loan Other Bank Bank 17% Investments 7% Investments 5% Insurance 3% Insurance 19% Other services 23% Other services �� 15% Don't know ���� 2% Don't know
United Kingdom Page 38 © Trustly Group AB Q4 At which bank do you have your…
Main Current Account Main SavingsMain Savings Account Account 10152025 05 5 10 15 20 25
Barclays 13% 8% NatWest 13% 7%
Santander UK 11% 5%
HSBC 10% 7%
Halifax 9% 6%
Nationwide 9% 8%
Lloyds Bank 7% 5%
Lloyds TSB 7% 4%
RBS 4% 2%
First Direct 2% 2%
Bank of Scotland 2% 1%
Co-operative Bank 2% 1%
Yorkshire Bank 2% 1%
Other bank 2% 2%
Clydesdale Bank 1% 0%
Smile 1% 0%
Ulster Bank 0% 0%
M&S Bank 0% 1%
Metro Bank 0% 1%
Cahoot 0% 0%
Handelsbanken 0% 0%
Post O ce 0% 0%
United Kingdom Page 39 © Trustly Group AB Q5 To what extent do you trust your main bank?
Percentage (%)
100
95
90
85 84%
80
75
70
65
60
55
50
45
40 36%
35
30 28%
25
20% 20
15
10 9%
5 3% 2% 1% 1%
1 2 3 4 5 6 7 Sum(5-7) Don't know I don’t trust my I completely trust main bank at all my main bank
United Kingdom Page 310 © Trustly Group AB Q6 What is your overall satisfaction with your main bank?
Percentage (%)
100
95
90 86% 85
80
75
70
65
60
55
50
45
40
34% 35 32% 30
25
20% 20
15
10 8%
5 3% 1% 1% 1%
1 2 3 4 5 6 7 Sum(5-7) Don't know Very unsatisfied Very satisfied
United Kingdom Page 311 © Trustly Group AB Q7: 1/3 How often do you use online banking with the following banks?
11% Every day 18% Every day 19% Every other day 21% Every other day 32% Once per week 25% Once per week HSBC 15% Once every couple of weeks Barclays 10% Once every couple of weeks Bank 3% Once per month Bank 7% Once per month 5% Less than once per month 5% Less than once per month 14% Never 13% Never 1%��� Don't know �0%��� Don't know
17% Every day 12% Every day 25% Every other day 18% Every other day 22% Once per week 28% Once per week Lloyds 9% Once every couple of weeks Santander UK 12% Once every couple of weeks Bank 6% Once per month Bank 11% Once per month 5% Less than once per month 5% Less than once per month 15% Never 13% Never 1%��� Don't know �1%��� Don't know
13% Every day 17% Every day 31% Every other day 0% Every other day 21% Once per week 38% Once per week Yorkshire 3% Once every couple of weeks Clydesdale 16% Once every couple of weeks Bank 4% Once per month Bank 5% Once per month 11% Less than once per month 5% Less than once per month 17% Never 15% Never 0%��� Don't know �3%��� Don't know
24% Every day 13% Every day 20% Every other day 18% Every other day 23% Once per week 15% Once per week Metro 5% Once every couple of weeks Co-operative 16% Once every couple of weeks Bank 13% Once per month Bank 6% Once per month 0% Less than once per month 5% Less than once per month 15% Never 27% Never 0%��� Don't know �0%��� Don't know
United Kingdom Page 312 © Trustly Group AB Q7: 2/3 How often do you use online banking with the following banks?
15% Every day 20% Every day 14% Every other day 22% Every other day 21% Once per week 27% Once per week Nationwide 7% Once every couple of weeks Ulster 15% Once every couple of weeks Bank 19% Once per month Bank 0% Once per month 7% Less than once per month 7% Less than once per month 17% Never 9% Never 1%��� Don't know �0%��� Don't know
23% Every day 20% Every day 20% Every other day 17% Every other day 24% Once per week 33% Once per week RBS 12% Once every couple of weeks NatWest 7% Once every couple of weeks Bank 5% Once per month Bank 6% Once per month 1% Less than once per month 8% Less than once per month 13% Never 8% Never 2%��� Don't know �2%��� Don't know
16% Every day 12% Every day 14% Every other day 20% Every other day 28% Once per week 31% Once per week Halifax 9% Once every couple of weeks Lloyds TSB 9% Once every couple of weeks Bank 8% Once per month Bank 10% Once per month 10% Less than once per month 5% Less than once per month 14% Never 12% Never 1%��� Don't know �1%��� Don't know
19% Every day 14% Every day 19% Every other day 21% Every other day 29% Once per week 38% Once per week Bank of 11% Once every couple of weeks First Direct 13% Once every couple of weeks Scotland 9% Once per month Bank 3% Once per month 6% Less than once per month 0% Less than once per month 7% Never 12% Never 0%��� Don't know �0%��� Don't know
United Kingdom Page 313 © Trustly Group AB Q7: 3/3 How often do you use online banking with the following banks?
33% Every day 25% Every day 14% Every other day 24% Every other day 16% Once per week 40% Once per week Smile 0% Once every couple of weeks Cahoot 0% Once every couple of weeks Bank 14% Once per month Bank 0% Once per month 7% Less than once per month 0% Less than once per month 15% Never 11% Never 0%��� Don't know �0%��� Don't know
77% Every day 17% Every day 0% Every other day 12% Every other day 0% Once per week 29% Once per week Handelsbanken 23% Once every couple of weeks M&S 9% Once every couple of weeks Bank 0% Once per month Bank 8% Once per month 0% Less than once per month 5% Less than once per month 0% Never 20% Never 0%��� Don't know �0%��� Don't know
13% Every day 13% Every day 11% Every other day 8% Every other day 5% Once per week 16% Once per week Post 10% Once every couple of weeks Other 9% Once every couple of weeks O ce 0% Once per month bank 10% Once per month 33% Less than once per month 29% Less than once per month 29% Never 15% Never 0%��� Don't know �0%��� Don't know
United Kingdom Page 314 © Trustly Group AB Q8 To what extent do you agree or disagree with these statements regarding your main bank?
Percentage (%)
100
88 90 % 87% 86% 85% 84%
80 74%
70
60
50
44 43%
40 39
36 36
31 30 30 30 29 28% 27 27
20% 20 19% 18% 18%
15 14%
13% 10 10% 9% 8% 8 8% 8%
3 3 3% 3% 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 2 0 0
My online bank is Authentication It is easy to use the It is easy to use Online banking is Online banking secure in general methods for my authentication online banking in the safest method is the easiest method online bank are methods for my general for transferring for transferring secure online bank money money
1 2 3 4 5 6 7 Sum(5-7) Don't know
Strongly Strongly disagree agree
United Kingdom Page 315 © Trustly Group AB Q9 To what extent do you use your main bank's online banking services in the following situations?
Percentage (%)
100
95
90
85
80
75
70
65 63%
60
56%
55
50% 50
45
40
35
31% 30
26% 25
21% 20
15% 15 13% 12% 10% 10% 10 9% 7% 7% 7% 6% 6% 6% 5% 5% 5% 5 4% 4% 4% 3% 3% 3% 3% 3% 2% 1% 1%
Every day Every other day Once per Once every Once per Less than once Never Don't know week couple of weeks month per month
At home At work When commuting When travelling (holiday)
United Kingdom Page 316 © Trustly Group AB Q10 What do you use your main online bank for?
Percentage (%)
100
95
90 88%
85
80
75
70
65 63%
60 57%
55 54%
50 45% 45
40
35
30
25
20
15 12% 10
5 5% 1% 1%
Check my Pay my bills Transfer Transfer money Manage my Apply for Online Bank Other Don't know balance money to external bank investments loans Payments between my accounts (e.g. funds) (Payment own accounts authorized through your online bank)
United Kingdom Page 317 © Trustly Group AB Q11 Approximately how often do you log in to your main bank online via the following methods?
Percentage (%)
100
95
90
85
80
75
70
65
60
55
50 47%
45
40 37%
35
30
26% 25
20 17% 16% 16% 16% 15 13% 12% 13% 11%11% 10% 10% 10 9% 7% 7% 6% 5 4% 4%
3% 2% 1% 1% 1% 0% 0%
Every day Every other day Once per Once every Once per Less than once Never Don't know My main bank week couple of weeks month per month does not provide this method
Through desktop Through mobile phone or tablet Through mobile phone or tablet (computer) by entering the bank's website by using the bank's app
United Kingdom Page 318 © Trustly Group AB Q12 What authentication methods do you usually use when logging in to your main bank?
Percentage (%)
100
95
90
85
80
75
70 69%
65
60
55
50
45
40
35
30
25
20 17%
15 14% 12% 10 9% 7% 7% 5 3% 3%
Codecard chipTAN mTAN pushTAN Token Call Username & Other Don't know (Card with (Card with chip (Mobile and (Generate (Login to (Automated Password method one-time inserted into SMS code) one-time code) generate phone call code) card reader) one-time from the bank code) with an one-time code)
United Kingdom Page 319 © Trustly Group AB Q13 How satisfied are you with the authentication methods you use?
Percentage (%)
100
95
92% 90% 90 87%
86%
85% 85 84%
81%
80
75
70
66%
65
62%
60
55
50
47%
45 44%
40 39% 38%
36%
35 34% 33%
32% 31% 31% 30 29% 28% 27%
25 25%
22% 21%
20 19%
18% 17% 17%
15% 15% 15
10% 10 9% 9%
8% 8% 8% 8%
6% 6% 5 5% 5% 5% 4%
3% 3% 2% 2% 2% 2% 2%
1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1%
0% 0% 0% 0% 0% 0% 0% 0% 0%
Codecard chipTAN mTAN pushTAN Token Call (Automated Username & Other method (Card with (Card with chip (Mobile and (Generate (Login to phone call from Password one-time inserted into SMS code) one-time code) generate the bank with code) card reader) one-time an one-time code) code)
1 2 3 4 5 6 7 Sum(5-7) Don't know
Very Very unsatisfied satisfied
United Kingdom Page 320 © Trustly Group AB Q14 To what extent do you agree or disagree with the following statements with regards to this service (Trustly demo)? Percentage (%)
100
95
90
85
80
75 70% 70 67% 66%
65 60% 60
55 51%
50
45
40
35
30
26% 25% 25 23%
22% 21% 22% 22% 22%21% 20% 20 19% 19% 19%
16%16% 15% 15% 15 14% 13% 12% 11% 10% 10 9% 8% 8% 8% 7% 5% 5% 5% 5 4% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 2% 2% 2%
This service seems I trust my bank's I would consider This looks more I appreciate that simple and authorization using this service if it convenient than entering the solution is convenient to use method to provide was available in an card details when optimized for good security online shop shopping mobile phones
1 2 3 4 5 6 7 Sum(5-7) Don't know Couldn't watch Strongly Strongly the demo disagree agree movie
United Kingdom Page 321 © Trustly Group AB
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Research conducted by Comissioned by