Poll: Would you switch banks because one is quantum ready

[MegaHavertz19]

TL;DR

• Banks are among the organisations working hardest on the move to post quantum cryptography, but customers rarely hear about it
• International bodies such as the G7 Cyber Expert Group, which issued a statement on quantum risk in September 2024, have urged the financial sector to plan ahead
• Most of the upgrade happens behind the scenes, so customers usually do not need to do anything except keep apps and devices updated
• This poll asks a simple question: would quantum readiness affect which bank you choose
• Be wary of anyone who uses quantum fears to pressure you into moving money, since genuine banks will never do that

The question

Imagine two banks with similar rates, fees and service. One publicly explains its plan for protecting customers against future quantum computers, while the other says nothing. Would that difference make you switch? Or is it something you would never think about when choosing where to keep your money

We are asking because the financial sector is one of the most active areas of post quantum planning. Yet the work is almost invisible to customers. Your vote and comments will help us understand how much ordinary users care about this kind of security. They may also spark some useful discussion about trust and transparency

What banks are doing

Banks rely heavily on public key cryptography for online banking, card payments, messaging between institutions and signing transactions. That makes them a natural concern when people discuss Q-Day. There is also the harvest now, decrypt later risk, where encrypted data captured today could be read in future. Financial records can stay sensitive for many years

Regulators and industry groups have taken notice. In September 2024 the G7 Cyber Expert Group published a statement encouraging financial institutions to understand quantum risks and begin planning. In 2023 the Bank for International Settlements worked with the Banque de France and the Deutsche Bundesbank on Project Leap, which tested post quantum protection for payment messages. In 2025 Europol launched a Quantum Safe Financial Forum to bring banks and experts together

Much of this work involves taking inventory of where cryptography is used, testing new algorithms and planning upgrades with suppliers. It is slow and careful, because banking systems cannot afford outages. Customers will mostly notice nothing at all. That is exactly how a good security upgrade should feel

Arguments for caring

Some members feel that a bank's openness about quantum planning is a useful signal. A bank that explains its approach may also be careful about security in general. Transparency builds trust, and trust is what banking is built on. Choosing a bank partly on security culture seems reasonable to many people

There is also a long term argument. Savings, mortgages and pensions can last decades, so the institutions holding them should be planning decades ahead. Asking about quantum readiness is one way to test that mindset. It can also encourage banks to communicate more clearly

Arguments against switching

Others argue that quantum readiness is not something customers can judge well. Almost every major bank is working on it, and public statements may say more about marketing than about engineering. Deposit protection schemes, such as the UK Financial Services Compensation Scheme, also protect eligible savings up to a limit if a bank fails. For most people, fees, service and convenience will matter far more

There is a scam risk too. Fraudsters love new fears, and quantum computing is a gift to them. A message claiming your bank is not quantum safe and urging you to move funds should be treated as a red flag. Real banks will never ask you to transfer money because of quantum computers

Questions to discuss

• Would you ever ask your bank about its quantum plans
• Should banks explain their security upgrades publicly, or keep quiet for safety
• Does security influence your choice of bank today
• What would a bank need to say to reassure you

Closing thoughts

Quantum readiness is an unusual reason to choose a bank, but it raises bigger questions about trust, transparency and long term thinking. Whatever you vote, the practical advice stays the same: keep your banking app updated, use strong authentication and ignore anyone who tries to rush you. The industry is preparing steadily. We would love to hear how you weigh it


Further reading

• G7 Cyber Expert Group, Statement on Planning for the Opportunities and Risks of Quantum Computing, September 2024
• Bank for International Settlements, Project Leap, 2023
• Europol, Quantum Safe Financial Forum, 2025
• UK NCSC, Timelines for migration to post quantum cryptography, March 2025