Banking primacy: why the primary account matters
The primary account is a bank's greatest asset in its relationship with the customer. Understand why capturing this position has become the new gold in financial services.
If you ask a Brazilian how many bank accounts they have, the answer is likely something like: "About four." And that's no exaggeration. Having multiple accounts has become part of everyday life for many people — whether out of necessity, convenience, or strategy. Within this landscape, banking primacy has taken center stage.
What is banking primacy?
In an ecosystem of multiple banks and digital wallets, one account stands above the rest: the primary account.
It's where the paycheck lands, where the most important transactions happen, and where the card gets the most use. It's where the real relationship with the bank develops. For financial institutions, this completely changes the dynamics of the customer relationship.
Why has it become so strategic?
Our most recent study shows that banking primacy has become one of the most hotly contested indicators in the market. Having a customer is important — but holding their primary account is what guarantees profitability, loyalty, and growth opportunities over time.
Banks that capture this position also gain an edge across multiple fronts: more data, higher transaction volume, and greater opportunities to offer financial products with stronger uptake.
Who is winning this game?
Currently, Nubank leads banking primacy in Brazil — surpassing even giants like Itaú and Bradesco. The purple bank's success did not come from digital innovation alone, but from its ability to build genuine bonds with new generations.
Even so, this competition is far from settled. Primacy is a dynamic game, highly sensitive to shifts in people's financial life cycles.
Does primacy change over time?
Yes. As people advance financially, many migrate toward banks with a more robust product portfolio. Offerings such as mortgage financing, investment solutions, and preferential terms carry increasing weight in the decision.
In this regard, traditional banks still hold an advantage. Despite being less agile digitally, they offer a range of solutions that retains customers with higher incomes or more complex financial goals.
What defines the future of primacy?
The question that remains is: who will know how to build lasting relationships amid digital transformation?
The answer may well define who leads the next phase of the banking sector. Because it is not just about digitizing processes — it is about deeply understanding the customer and accompanying their journey strategically.
Want to see all the details? Access the study to discover all the insights on the banking behavior of Brazilians.