New York (CNN Business) America's banks have rapidly shut down branches over the past decade to slash costs and adapt to a world in which deposits can be made on smartphones.

Bank of America BAC The number of US bank branches has shrunk by more than 3,000 since 2010, according to Deloitte.alone has slashed its branch count by more than 1,400. Not only does the shift away from physical branches save banks money, it makes sense given how much younger Americans rely on their smartphones for daily life.

Yet new research suggests banks should think twice before they shut down their next bank branch: Many customers, especially younger ones, still regularly rely on physical banks to make deposits, get paper money and even pay bills.

Seventy-two percent of GenZ consumers visit a physical bank branch at least monthly, the highest of any age group, according to a study of 1,000 consumers by Adobe Analytics shared exclusively with CNN Business. And 60% of Millennials say the same.

Surprisingly, older Americans were less likely to visit physical banks monthly, with GenX (50%), boomers (55%) and traditionalists (58%) saying they did so.