Once the worst of the Coronavirus pandemic is over and the lockdown lifts, 45 per cent of people with savings accounts will be more likely to manage them online using digital services such as apps than they were before the crisis.

This was according to a survey commissioned by Investec and carried out by Consumer Intelligence during May among 1,034 UK adults.

When asked why, 21 per cent said that during the crisis they started to use digital services to manage their savings and money for the first time and have got used to this now. Similarly, 38 per cent said they used these digital services before the crisis but have been using them more since the lockdown and will continue to do so afterwards.

However, 41 per cent said they will use digital services more to manage their money because they want to visit branches less and reduce their chances of catching COVID-19.

Linda Brown, head of savings at Investec, said: “The use of digital services to manage savings and money has been increasing for years, but our research suggests that the Coronavirus crisis has turbo-charged this trend - more people have been forced to use banking apps and other digital services and appreciate the benefits they offer in terms of time saved, and have become more comfortable using them.”

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