Wooden payment cards tempt UK consumers to switch banks

Copecto has published UK consumer research on demand for wooden payment cards, suggesting some customers would switch banks to get one.

The survey of 1,012 UK consumers found that 68% were interested in wooden debit or credit cards, while about a third said they would consider changing banks to obtain one. It also found that 63% believe banks should do more to make products and services more sustainable.

The findings suggest a potential commercial opportunity for banks looking to attract higher-income customers through premium current accounts and card products. Among respondents interested in wooden cards, 48% said they would upgrade to a premium account if it included one, rising to 67% among the highest earners.

Interest was strongest among affluent groups, a key target for banks competing on premium services. According to the research, interest in wooden cards rose to between 72% and 76% among consumers earning £40,000 to £150,000 a year.

Scepticism remains

The results also showed distrust of corporate environmental messaging. Nearly seven in 10 respondents (69%) said they suspect brands may use sustainability claims to greenwash.

That scepticism sits alongside rising expectations for visible changes to everyday banking products. More than half of those surveyed (56%) said they did not know before the study that payment cards could be made from materials other than plastic.

After respondents were given more information about alternative materials, including durability and functionality, wood emerged as the most preferred card material in the survey. The cards referenced are made from 100% FSC-certified wood.

"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," said Ashwini Pandey, Chief Executive Officer of Copecto.

Physical presence

The research suggests physical cards still shape how customers judge a bank, despite the broader shift to app-based banking and digital wallets. Consumers linked wooden cards not only with sustainability but also with status and distinctiveness.

In the survey, 71% said wood is better for the environment than metal, 63% said wooden products feel more exclusive, and 63% said the ability to stand out matters to them. A further 54% said they would consider using a wooden card to express support for sustainability.

Those responses may matter to lenders who have used metal cards as a marker of premium accounts. The research suggests some consumers now value a different material cue, particularly if it combines perceived exclusivity with lower environmental impact.

For Copecto, which focuses on wood-based cards, the data highlights a challenge of awareness as much as product appeal. If most consumers do not know alternatives to plastic exist, banks and suppliers may need to explain the proposition before demand translates into take-up.

Pandey said physical products still matter even as banking services become more digital. "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."