The news: Trust-related factors are some of the strongest drivers of bank choice among employed Gen Z consumers, per YouGov’s new “Gen Z Banking Trends” report. Digital convenience remains important, but as more Gen Zers enter the workforce and begin longer-term financial relationships, they are increasingly prioritizing security, reliability, and brand reputation.

The institutions winning over Gen Zers align closely with those priorities.

Zoom in: Bank of America (BofA) is the most favorably viewed bank among employed Gen Zers, followed by Capital One and Chase, according to YouGov’s ranking. Digital-native players are also making gains in this cohort, with Cash App and Chime posting stronger impressions than they do among the overall employed population.

EMARKETER’s “US Consumer Banking Habits” survey echoes YouGov’s findings. BofA was the bank that Gen Zers and millennials were most likely to rely on for their banking needs, followed by Chase, Wells Fargo, and Chime.

The factors driving those preferences offer additional insight. When YouGov asked what matters most when choosing a bank, Gen Zers cited low or no maintenance fees (31%), security and reliability (29%), and brand reputation and trustworthiness (26%) as their top priorities. Customer service (22%), digital banking capabilities (21%), fee transparency (21%), and branch access (20%) also ranked among their leading considerations.

Why this matters: Trust-related factors—including security, fee fairness, and brand reputation—outweigh digital banking and branch convenience for Gen Zers. That means younger consumers want modern banking experiences backed by brands they believe are secure, stable, and credible.

Implications for banks: The banks earning the strongest impressions among Gen Z balance trust and convenience. Traditional institutions like BofA and Chase benefit from established reputations, perceived stability, and strong security credentials while still delivering on mobile experience. 

Meanwhile, digital-first brands such as Cash App and Chime build trust through personalized products, intuitive experiences, and simple money management tools that become part of consumers' daily lives.

For banks looking to win younger consumers, the lesson is clear: Trust must be paired with usability. 

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