Customers stick with banks out of habit

Seventy-one per cent of the customers of big banks are thinking of changing their bank, research by Bank of Western Australia has found, while less than one in five Australians believe their banks give them good service. A survey of 2000 bank customers by BankWest found that 50 per cent more likely to change their bank than their toothpaste or hair gel; only 20 per cent are seriously committed to their bank, with a further 8 per cent remaining with their bank simply out of habit. The survey also found that people think that bank branches are vital, with 70 per cent of people in disagreement with the proposition that branches were not important.

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