The results showed more than half of retired people in rural settings relied on the state pension as their sole source of income, compared with 37% in urban areas.

Also, in rural areas, a higher than average proportion of adults (13%) aged 55 and over, or who are younger and have a long-term health condition, had difficulty getting to a bank.

However urban dwellers were found to be far more likely to be dissatisfied with the financial services they used, with 27% of adults in rural areas “highly satisfied”, compared with 20% of adults in urban areas.

Satisfaction in London was particularly low with just 16% being “highly satisfied” with their finances, compared with the national average of 21%. 

A higher concentration of adults with high-cost loans was found in urban areas (7% or 2.4 million people) than in rural areas (5% or 0.6 million people).

Adults’ average unsecured debt was £3,600 in urban areas, compared with £2,510 in rural locations and those paying for credit were more likely to be in urban areas (49%) compared with rural areas (37%).

The figures also revealed just 6% had used regulated financial advice in the past year and 38% trusted financial advisers.

Just over one in 10 of the adult population (13%) had no savings, but the report also showed there was a clear north-south divide, with more people in the north having no savings, 17% of people in the north west and 16% in the north east had no savings, compared to 9% in the south east and 10% in the south west.

Andrew Bailey, FCA chief executive, said: “This survey shows just how different the experience of financial services is for consumers across the country.

“That’s important for us, as we shape financial services policy.

“But it is also important for firms, as they decide how best to serve their customers.”

Laura Suter, personal finance analyst at AJ Bell, said: “Just 6% of people have used regulated financial advice in the past year, highlighting the advice gap in the UK at the moment.

“Despite the work done over recent years by the industry and regulator, the British public are still wary of the financial services industry, with only a third thinking financial firms are honest and transparent.”