• Reasons for choosing challenger bank in the UK 2015

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This statistic presents the main reason cited by United Kingdom (UK) adults that chose to bank with a challenger banking brand as of 2015. Approximately 28 percent of respondents reported the possibility to earn loyalty points or get discounts as the reason for using a challenger bank.

Reasons for choosing a challenger bank in the United Kingdom (UK) in 2015

Characteristic	Share of respondents
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Release date

May 2015

More information

Region

United Kingdom

Survey time period

2015

Number of respondents

463 respondents

Age group

18 years and older

Special properties

account holders with challenger banking brand.

Method of interview

Online survey

Supplementary notes

According to the source:

"Smaller challengers have typically been incorporated in the past five years. Four of them are now listed banks. They include: Shawbrook, Aldermore, Handelsbanken, Metro, STB and Onesavings."

"Larger challengers are longer established. Two of them are new but have inherited large portfolios of loans and advances to customers. They include Virgin, First Direct, Williams and Glyn, Nationwide, Post Office, TSB and NAB."