Generation Z Visits Bank Branches More than Any Other Generation

October 19, 2017, Written By John H. Oldshue
Generation Z Visits Bank Branches More than Any Other Generation

Members of Generation Z are finally entering adulthood. They now represent the 18-21 year olds in most studies and surveys. Despite this group’s experience with technology and cashless spending, new research from Accenture shows that Generation Z is more likely to visit a physical bank branch than all other age groups.

20% of adults visit their bank branches at least once a week. That increases to 23% with Gen Z, compared to 16% of Baby Boomers. Gen Z is also the most likely group to make purchases in stores with cash (28% of Gen Z vs. 18% of Millennials).

In addition to visiting physical branches, 69% of Generation Z members use mobile banking apps at least once a week. Only 17% of Baby Boomers use mobile banking. A surprising 46% of American and Canadian adults use mobile wallets today, and 64% plan to use them by 2020.

The study also explored how North Americans view rewards credit cards. 48% of overall participants said they would switch their current rewards card if they could get more for their purchases. 42% said they would get a different card for a significant upfront bonus.

The information contained within this article was accurate as of October 19, 2017. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About John H. Oldshue

John Oldshue is the creator of He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for
View all posts by John H. Oldshue