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SixthSense™

Current Accounts 2011
£1750

Content
  • Report SummaryToggle
    • The market today
    • Niche accounts
    • Bank charges and fairness
    • Provider positioning
    • Brandscape
  • Introduction & ScopeToggle
    • Report coverage
    • Definitions
    • Methodology
  • The Market TodayToggle
    • Almost 50 million own account holders
    • Free rather than the freedom to choose
    • A lack of choice
    • Almost 2 million unbanked
    • Owning jointly, a symbol of love?
    • The six types of accountholderToggle
      • Standard account holders
      • Affluent packagers
      • Wealthy portfolios
      • Young accountholders
      • Poorer under banked
    • Less than two accounts per person
    • 68 million current accounts
  • Packaged AccountsToggle
    • Banks push packaged products
    • Customer value vs provider profits
    • The packaged elite…
    • The need to shop around
    • Market potential of packaged accounts limited…
    • Because consumers don’t think its legitimate to charge for banking services
    • The foreign packaged account
  • Other Niche AccountsToggle
    • Basic bank accounts
    • 6.4 million own basic accounts
    • Getting ’em young is a key priority
    • Educational status the main factor influencing uptake
    • Islamic accounts
  • Account DynamicsToggle
    • Most stick, few twist…
    • Because twisting is unlikely to deal a better hand..
    • Four key types of searchers
    • Portfolios and Young Accountholders search the most
    • Drivers of account searching
    • Five forces
    • A market of almost 6 million account changes
    • Active searchers the most likely to open account
    • The web aids searching
    • Search causality
    • Taking about their generation
    • Young accountholders represent one in four account openers
    • Basic and student accounts see most activity
    • Switching, swapping or acquiring
  • Information SourcesToggle
    • The web dominates
    • Consumers don’t cast their net wide
    • Switchers use online sources
    • Swappers like the personal touch
  • Bank Charges and Perceptions of FairnessToggle
    • A case to be answered for?
    • But account providers seem to be making “real progress” …
    • But that doesn’t mean paying compensation
    • The new government likely to put pressure on the banks
    • Consumers know they often don’t know…
    • And don’t bother to find out
    • Only one in three are clued up
    • Accounts reviewed on a need to know basis…
    • But it’s in the provider’s best interest to change this
    • Do banks impose charges or fines?
    • The word of mouth multiplier
    • The better the services the more willing consumers are to pay
    • Four approaches to bank fees
    • Poor charging experience encouraged searching for better accounts
    • Fees or fines, consumers tend to think they are both unfair
    • A lack of knowledge is a dangerous thing
  • Provider PositioningToggle
    • Lloyds Banking Group: the Capodimonte
    • RBS the number two
    • HSBC: the world’s local bank
    • Barclays
    • Santander the emerging power
    • LBG strong in packaged accounts
    • RBS strong with younger adults: but they can’t hold on to them as they age
    • Halifax and Nationwide strong in the basic account market
  • BrandscapeToggle
    • Account providers failing their customers...Toggle
      • Leading to a less than rosy view of account providers
      • Treat your customers well if you want high praise…
      • But maybe you shouldn’t expect too much
    • But some of the main providers wake up to customer serviceToggle
      • Building deep and enduring customer relationships
      • RBS retail focuses on its customers
      • Barclays focuses on banking and online
      • Nationwide comes clean on account charges
    • Comparative Position of the major account providers
    • Breaking the big boys hold on the marketToggle
      • Awareness of new entrants
      • One in five could be tempted to new accounts
      • Why a strong brand is important
      • The lack of competitive rates…
      • Metro Bank can’t compete on cost
      • And Virgin Money will be in the same
      • Tesco Bank
  • DownloadsToggle
    • Questionnaire
    • Report PDF
    • Datasheet
    • Updates
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