Generation Z banking customers were less likely than baby boomers to say they had switched their primary bank as adults, according to a FinanceBuzz survey: 38% of Gen Z respondents reported making a change, compared with 81% of boomers.
The findings come from a survey of 2,000 U.S. banking customers conducted through Prolific in July 2026. Wells Fargo sponsored the research. FinanceBuzz said it independently administered the survey, analyzed the results and developed the reporting, which was updated Nov. 4.
The comparison measures whether respondents have ever switched banks as adults. It does not establish that younger customers are inherently more loyal: Older respondents have had more adult years in which to change banks.
Rates, fees and moving lead reasons for switching
Across the survey, 63% of respondents said they had switched their primary bank account as adults. The share was 71% among Generation X and 64% among millennials, between the rates reported by boomers and Gen Z.
Among respondents who had switched, 33% cited better rates or lower fees, 28% cited moving and 24% cited poor service. A broader life change was cited by 23%, while 15% identified a specific feature they wanted.
Those percentages describe people who had changed banks, rather than all survey participants. FinanceBuzz also reported that 52% of switchers cited moving, a life change, or a bank closing or merging among their reasons.
Banking relationships nevertheless tended to last for years. Respondents reported an average of 12.1 years with their primary bank, and 15% said they had been with that bank for more than two decades. FinanceBuzz defined the primary banking relationship around the primary checking account, acknowledging that savings may be held elsewhere.
Apps matter across generations
Asked to choose between a great banking app and a nearby branch, 65% of respondents favored the app. That preference ranged from 51% among boomers to 61% among Gen X, 68% among millennials and 73% among Gen Z.
That did not mean physical access was unimportant. Across generations, between 74% and 78% rated branch and ATM access as very or extremely important when selecting a bank. Overall, 12% reported visiting a branch multiple times a month, compared with 95% who accessed banking online or through an app that often.
Security and cost were widely shared priorities. Across the overall sample, 95% rated data security as important and 93% identified low banking fees. The report said every generation selected data security when asked for the single most important factor in choosing a bank.
Preferences for additional tools differed more sharply. Built-in budgeting or spending trackers were very or extremely important to 39% of Gen Z respondents, compared with 12% of boomers. Credit score monitoring drew those ratings from 56% of Gen Z and 34% of boomers.
What the survey can and cannot show
Family connections also figured into banking choices: 43% said a family member or friend banked at their institution or recommended it. Among Gen Z respondents, 39% still had a primary checking account opened for them before age 18.
The complete FinanceBuzz report describes an online survey of U.S. banking customers. Its published methodology does not provide generation-specific sample sizes, weighting details or a margin of error. Those omissions limit how precisely readers can assess the differences between age groups.
The findings describe respondents’ reported experiences and preferences. They do not establish banking habits specifically in the Finger Lakes or demonstrate that one generation will remain with its bank longer over a lifetime.
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