Consumers embrace digital banking for routine transactions but deeply value in-branch support for guidance on complex matters.
Consumers have more confidence banking digitally with institutions that also maintain physical branches.
AI is becoming part of the vehicle shopping journey, but dealerships remain essential to purchase decisions.
Middle-income households remain financially resilient, with 3 in 4 saying they are on the right track despite heightened inflation concerns.

Santander Holdings USA, Inc. ("Santander US") today released findings from its Santander US Paths to Financial Prosperity Q2 2026 survey of middle-income Americans that shows households continue to value in-person support for life’s biggest financial decisions. This includes receiving in-branch support from bank staff on complex issues and help from customer-facing teams in auto dealerships when purchasing a car.

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Consumers identified vehicle access and banking partners as essential elements to achieving prosperity. More than 3 in 4 said vehicle access is necessary for getting to work (77%) and directly affects the number of jobs available to them (76%). Meanwhile, more than 9 in 10 (91%) said choosing the right banking provider is important for achieving prosperity.

Consumers Value Branches Alongside Digital Banking

For many consumers, the right banking provider involves a multi-channel approach comprised of both digital and in-person experiences. While middle-income Americans increasingly bank digitally for everyday financial tasks, they continue to value physical branches as an important source of trust, guidance and support. Nearly 9 in 10 (89%) say they want to manage most banking tasks digitally but have access to a branch with people who can help when needed. The survey found that consumers prefer an in-person banking experience for resolving complex issues, receiving personalized guidance and discussing important financial decisions.

"Our latest research shows that technology has transformed the way people handle routine banking, but the need for trusted advice hasn't changed. Our branches are where we help people make important financial decisions, build lasting relationships, and get the guidance they need," said Jason Mock, Head of Retail Banking at Santander Bank, N.A. "We're continuing to invest in our branches and our digital banking experience because customers expect both. Whether they bank online or walk into one of our locations, customers should have the tools, support, and confidence to manage their finances in the way that works best for them."

Consumers also said that they have greater confidence banking digitally with banks that have physical branches. 86% would have more confidence in a digital banking provider if it were owned and backed by a financially stable bank, while 83% would have more confidence in a digital banking provider that also has physical branches.

Consumers Prefer to Make Purchase Decisions at Auto Dealerships

While customers increasingly use online resources and AI to inform their car buying experience, overwhelmingly auto dealerships are the preferred place to buy a vehicle. Two-thirds of prospective car buyers say they are more comfortable shopping for and purchasing vehicles through a dealership where they can see, test drive and evaluate vehicles in person. Most say their next vehicle will come from a brand-affiliated or an independent used car dealership.

Vehicle access continues to have an essential role in work and economic opportunity for middle-income Americans, and more than half are driving to work more often than a year ago, up 8 percentage points from Q1. This strong reliance is helping to sustain vehicle demand despite affordability pressures. At the same time, costs are leading customers to adapt to what they buy. For example, 84% of prospective buyers would consider buying a used vehicle, and nearly 3 in 4 recent car buyers made compromises on vehicle features and add-ons to purchase a vehicle they could afford.

"Middle-income consumers increasingly rely on vehicles for work and job access, which sustains demand for both new and used vehicles," said Betty Jotanovic, President of Auto Relationships at Santander Consumer USA, the Auto business of Santander US. "Consumers are prioritizing affordability and value, making practical tradeoffs to stay within budget. Our latest survey shows dealerships remain central to the purchase process because many consumers still want to see, test drive and evaluate vehicles in person – and they still need support making practical tradeoffs to keep vehicle access within reach."

Middle-Income Americans Remain Resilient

Middle-income Americans remain financially resilient despite heightened inflation concerns, adapting their everyday spending and financial decisions. Three in four (76%) say they are on the right track toward financial prosperity, while 83% believe they will find a way to manage rising costs. More than 9 in 10 (92%) took some action in response to inflation, including cutting retail spending (49%) and reducing entertainment and travel spending (44%). Two-thirds (67%) reported receiving a tax refund, with many using it to support savings or cover everyday expenses. Consumers are also leveraging AI as a practical financial tool, most often to help save money or reduce expenses.

The full report and more information about the Santander US survey is available HERE.

Methodology

The Q2 Santander US study, which builds upon 13 quarters of research, shows how economic conditions are shaping financial decision making for middle-income households, including spending and savings behaviors. This research, conducted by Morning Consult on behalf of Santander US, surveyed 2,199 Americans ages 18-76 who are bank and/or financial services customers. Survey participants are employed or looking for work, own/use at least one financial product, and are the primary or shared decision-maker on household finances with household income in the "middle-income" range of ~$55,000 to $167,000. This Q2 study was conducted June 25-29, 2026. The interviews were conducted online, and the margin of error is +/- 2 percentage points for the total audience at a 95% confidence level. Percentages may not total 100 due to rounding. The data was weighted to target population proportions for a representative sample based on age, gender, ethnicity, region, and education.

Santander Holdings USA, Inc. (SHUSA) is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE:SAN) (Santander), recognized as one of the world’s most admired companies by Fortune Magazine in 2026, with approximately 182 million customers in the United States, Europe and Latin America. SHUSA is the intermediate holding company for Santander’s five growing businesses in the United States. Santander’s U.S. presence consists of auto lending, retail and digital banking, commercial banking, corporate and investment banking, and wealth management businesses, with a combined total of approximately 11,000 employees, 4.4 million customers, and assets of $165 billion in the fiscal year ended 2025. In the U.S. market, Santander is recognized as a top-10 auto lender and a top-10 multifamily bank lender and servicer, and operates one of the fastest growing digital banks, Openbank by Santander, as a division of Santander Bank, N.A. For more information about Santander US, please visit www.santanderus.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260811664337/en/

Andrew Simonelli

mediarelations@santander.us