The majority of British banking customers have gained financial confidence as a result of opening a bank account, new research shows.
Over three-quarters of banking customers feel that opening their account made them increasingly savvy in dealing with their money matters, research conducted on behalf of the British Bankers' Association (BBA) shows.
Research firm Millward Brown found that nine in ten banking customers feel that their bank accounts meet their needs, while a similar number of respondents expressed their satisfaction with the way their bank account has been handled.
The vast majority of banking customers said opening their banking account was a simple and straightforward process, the survey of 1,000 new banking customers shows.
Only one per cent of banking customers would consider closing their current bank account and switching to another banking provider.
"Access to banking services is the lynch pin to financial inclusion and this research clearly shows that the features of the basic bank account closely match peoples' needs," comments the BBA's chief executive Ian Mullen.
He says that as banking customers become increasingly confident with their finances, a change to an account with fuller features may be appropriate.
A total of 121,000 basic bank accounts were opened in the last three months of 2005, while 6,100 banking customers upgraded their accounts to more fuller-featured ones, figures show.
Banking customers gain confidence, survey shows
Financial Services > e-banking > Banking news
Banking customers gain confidence, survey shows
Tue, 14 Mar 2006
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