What makes people shop around for bank accounts?
Recent research from RFi’s Alex Boorman suggests that young adults under the age of 35 are the most likely to switch between banks.
“Their financial needs become more complex and they encounter service failures.”
“Life events mean the financial products they are using no longer meet their needs and they start shopping around.”
Boorman said some banks are not very good at communicating with people in this age group.
Source: Banking Day