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New research shows that 77% of active users of basic bank accounts feel
that they are more confident in dealing with money as a result of
opening the account.
The research, conducted on behalf of the British
Bankers’ Association among 1,000 adults who had opened a basic bank
account in the previous 12 months, shows that 90% of consumers are
confident that the account meets their needs.
In addition, 92% of customers felt that opening an account was simple and
straightforward, 91% are satisfied with the way the account has been handled,
and 87% are satisfied with the functions provided by the account.
Ian Mullen, Chief Executive of the British Bankers’ Association stated: “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.
"As customers become more confident with their finances, a change to an account
with fuller features may be appropriate.”
Customers generally cited the simplicity of the account as the reason for
opening a basic bank account. Only 1% would consider closing their account and
not opening another.
Source:
Getting Paid
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