Account fees and mobile access is most important

Banks looking to improve their retail customer satisfaction scores should get rid of monthly account-keeping fees and improve their mobile phone access.

Banking researcher RFi looked at 33 attributes of a transaction account and plotted the correlation between particular attributes and overall satisfaction.

The two attributes that tend to be rated not satisfactory and have an important influence on overall satisfaction are monthly account fees and mobile access.

There are plenty of other attributes that tend to receive unsatisfactory ratings, but RFi found that they did not influence overall satisfaction. These include cheque access, exception fees, overseas' access, overseas' transaction fees, the number of ATM locations and the convenience of ATM locations.

Source: Banking Day