Grounds for not switching easy access savings accounts in the United Kingdom in 2014

Reasons for not switching easy access savings accounts among consumers who had considered to do so in the United Kingdom (UK) as of 2014

Grounds for not switching easy access savings accounts in the United Kingdom in 2014 This statistic presents the resons for not switching an easy access savings accounts according to account holders who had considered changing an account in the United Kingdom (UK) as of 2014. It was found that the main reasons for not switching were related to low expected or actual benefits from switching. A total of 42 percent of respondents said that they found little difference in interest rates offered in the market and therefore decided not to switch.
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Reasons for not switching easy access savings accounts among consumers who had considered to do so in the United Kingdom (UK) as of 2014

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Share of respondents
I found that there is very little difference in interest rates offered in the market42%
My balances are not high enough to gain enough for switching28%
It's too much hassle to move22%
I just haven't gotten round to doing this yet22%
I thought I could get a better interest rate, but that wasn't the case13%
I worry about something going wrong if I move money7%
I was unhappy with my existing provider, but I've decided it's not worth switching6%
Other3%
Other - happy with current provider1%
Share of respondents
I found that there is very little difference in interest rates offered in the market42%
My balances are not high enough to gain enough for switching28%
It's too much hassle to move22%
I just haven't gotten round to doing this yet22%
I thought I could get a better interest rate, but that wasn't the case13%
I worry about something going wrong if I move money7%
I was unhappy with my existing provider, but I've decided it's not worth switching6%
Other3%
Other - happy with current provider1%
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This statistic presents the resons for not switching an easy access savings accounts according to account holders who had considered changing an account in the United Kingdom (UK) as of 2014. It was found that the main reasons for not switching were related to low expected or actual benefits from switching. A total of 42 percent of respondents said that they found little difference in interest rates offered in the market and therefore decided not to switch.
Show more
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Statistics on "Bank customer retention in the United Kingdom (UK)"
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