Consumers are willing to pay almost GBP 4.20 per month for digital banking services, according to recent research. Additionally, they would accept to pay between GBP 2 and GBP 10 per month to gain access to new technological developments, if the latter offer convenience and value, the “New Digital Tipping Point” report released by PricewaterhouseCoopers (PwC) also indicates.

According to the source, customers across the UK believe that GBP 4.20 per month is the “optimal” price banks should charge, with price ranges found to be similar worldwide.

The international survey has forecasted that the online banking segment will overtake branch networks as the main method customers prefer to deal with their banks by 2015.

Results have also shown that in the UK, two thirds of respondents would be willing to pay in order to receive a notification via Twitter or Facebook regarding their completed transactions. In addition, about two thirds (65 percent) of UK consumers have also mentioned they would pay for their banks to store loyalty card information and convert points into cash.

The New Digital Tipping Point includes data from over 3000 respondents across the UK, Canada, China, France, Hong Kong, India, Mexico, Poland and the United Arab Emirates.