UK consumers trust banks over AI for financial advice

bunq has published research showing that UK consumers trust banks for financial advice more than any other source. The study also found that 35% of Britons do not trust AI at all in banking matters.

The figures point to a split in the UK market: confidence in traditional banking advice remains high, but comfort with AI-led support lags behind parts of Europe. Among UK adults surveyed, 43% said their bank was the source they trusted most for financial advice, compared with 29% in Spain and 32% in France.

That leaves banks ahead of fintech apps, AI chatbots and social media personalities when consumers decide where to turn for help with money matters. Yet the research also suggests this trust has not automatically extended to AI tools used in financial services.

More than a third of UK respondents said they did not trust AI at all in banking matters. That was more than double the level in Spain, where 14% said the same, and higher than Germany at 27%.

The survey covered 7,000 respondents across seven countries, with 1,000 people in each market: the UK, France, Germany, Ireland, the Netherlands, Spain and the United States. It examined attitudes to AI in finance, including adoption, concerns and how AI is shaping the way people organise their finances.

Design gap

Despite the scepticism, the findings suggest many consumers are open to AI-based financial guidance if the tools are designed to address specific concerns. In the UK, 33% said they would trust AI-generated financial guidance if it explained its reasoning step by step, while another 24% said access to a human review process would make a difference.

Only 10% of UK respondents said they would never trust AI financial advice, regardless of safeguards. That leaves a large majority potentially willing to use such tools if providers can clearly show how recommendations are made and when a person can step in.

The results suggest the issue for banks and fintech groups is less a blanket rejection of AI than the way these systems are presented to users. For lenders and digital banks, that creates a practical challenge in product design, communication and oversight rather than simple resistance to automation.

For established banks, the data may also reinforce their advantage over newer entrants. If customers already trust banks more than other advice channels, lenders may have more scope than standalone AI providers or personal finance influencers to introduce tools that help customers budget, understand spending or seek guidance on routine money decisions.

Usage patterns

The findings are reflected in use of Finn, bunq's AI financial assistant. Active engagement with Finn grew by 71% last year, and the service recorded a 90% approval rating among users.

bunq positions the assistant as a way for customers to ask questions and receive tailored financial insights without waiting for appointments or speaking to call centres. The survey suggests this kind of service may reach a bigger audience if users can see the logic behind the answers and know human support remains available.

The contrast between the UK and other European markets is particularly striking because Britain is one of Europe's most developed fintech markets. Even so, the research indicates that UK consumers are among the least likely in the group surveyed to trust AI for money management.

That tension matters for a sector that has invested heavily in automation, digital customer support and AI-led product development. Financial institutions argue that AI can help users navigate routine decisions more efficiently, but the latest figures suggest adoption may depend less on speed or novelty than on reassurance, explainability and accountability.

Joe Wilson, Chief Evangelist at bunq, said AI in finance should support customers rather than replace them. "AI is already a part of people's lives and how they make decisions, so it follows that helping them with their finances is part of that," he said. "People need their bank to stay ahead of the pace of the world and provide cutting edge tools that help them understand and manage their money. In other words, to make their lives easy. It's not about AI managing people's money for them, but about empowering them in a way that fits their lives."