Debit cards are the second-most owned financial product among U.S. consumers, just behind the checking accounts to which they are linked. They are more than a payment method: They’re a gateway to financial management, a budgeting tool, a symbol of financial responsibility, and—critically for financial institutions—the core of ongoing and new financial relationships.
This report covers account opening trends associated with debit cards, outlining consumer adoption rates, FI selection drivers, and key demographics and preferences of debit cardholders. It is based on a study of 4,634 consumers in the U.S., Canada, and the U.K. that Datos Insights conducted in Q1 2024.
Clients of Datos Insights’ Retail Banking & Payments service can download this report.
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