Current Accounts - UK - July 2015
“The current account market has always been labelled as being notoriously ‘sticky’. The launch of the CASS had as a primary goal the removing the barriers to switching and boosting competition. Even though the market has heated up with deals to lure switchers, activity remains split somewhat equally among switchers and non-switchers. Even dissatisfied customers fail to switch providers, revealing the prevailing power of customer inertia in the face of hassle avoidance.”
– Chryso Kolakkides, Senior Financial Services Analyst
This report discusses the following key issues:
- Tailored packaged current accounts can better reflect consumers’ preferences
- Even dissatisfied customers fail to switch
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