The April 2025 report reveals that debit cards are the second-most-owned financial product in the U.K., with 95% of consumers holding one at their primary financial institution. Only 17% opened a new debit card account in the past year, signaling strong loyalty. Debit cards are preferred for daily purchases by 55% of users due to convenience, expense tracking, and safety. Despite a shift to digital channels—60% open checking accounts via mobile or web—only 20% do so with their primary bank, showing low cross-sell effectiveness. Debit card design also influences account choice, cited by 14% of respondents.

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