A Third of UK Consumers Would Switch Banks for Wooden Payment Cards

As banks compete for customers, new research from Copecto suggests sustainability and physical banking products are becoming increasingly important in premium banking. The “Premium with Purpose” report found that nearly two-thirds (63%) of consumers believe banks should do more to make products and services sustainable. Two-in-three (68%) consumers are interested in wooden payment cards, with half of these (a third of all consumers surveyed) also saying they would consider switching banks to obtain one. Nearly half of those interested in wooden payment cards (48%) would also upgrade to a premium bank account if it included a wooden payment card, rising to 67% among the highest earners.

Sustainable Banking Products Drive Switching Behaviour

The research suggests consumers increasingly view sustainability as part of the premium banking experience, rather than as a standalone environmental issue. By using sustainably developed payment cards made from 100% FSC-certified wood, banks can better align with changing consumer expectations while supporting more credible sustainability positioning.

Ashwini Pandey, CEO of Copecto, said: “Banking is evolving. Consumers increasingly expect sustainability to be visible within the products and experiences they interact with every day. But they are also becoming more sceptical of broad environmental claims, with nearly seven in ten (69%) respondents suspecting brands may use sustainability to greenwash.

“For years, metal cards have been treated as the default symbol of premium banking, but consumers now want products that reflect quality, sustainability, and modern expectations as well. With more than two-thirds (68%) of respondents expressing interest in wooden cards, banks have a real opportunity to stand out and attract high-value customers.”

Wooden Cards Gain Ground Among High Earners

The strongest interest in wooden cards comes from affluent consumers – the same audiences banks compete hardest to attract through premium banking products. Interest in wooden payment cards rises to between 72% and 76% among consumers earning between £40,000 and £150,000 annually. Consumers earning over £150,000 demonstrated some of the strongest preference for wood once they understood more about alternative card materials.

Nonetheless, awareness remains a major barrier to adoption. Before taking part in the survey, more than half (56%) of consumers were unaware that payment cards could be made from materials other than plastic.

However, once consumers better understood alternative card materials and realised they could offer comparable durability and functionality to traditional cards, preference for wood increased significantly, making it the most preferred payment card material overall.

Why Physical Cards Still Shape Banking Brands

Despite the rise of digital wallets and app-led banking, the research suggests physical payment cards still play an important role in how consumers perceive and experience banking brands.

The research found that:

• 71% believe wood is better for environmental impact than metal
• 63% of consumers perceive wooden products as more exclusive
• 63% say the ability to “stand out” matters to them
• 54% would consider using a wooden card to express support for sustainability

Ashwini concluded: “Physical payment cards still play an important role in how consumers view their bank. As banking becomes increasingly digital, the physical touchpoints that remain have greater value in helping brands stand out and create stronger customer experiences. But consumers increasingly want tangible proof of sustainability, not just environmental messaging.”

To download the full “Premium with Purpose” report, please click here: https://www.copecto.com/Consumer-research-Juniper.html