Latest Intelligence on Current Accounts in United Kingdom

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Type Product title / description Pub Price
Expert View
Expert View

Switching incentives now a hygiene factor

Switching bonuses and in-credit interest have become a hygiene factor for consumers. Providers that do not offer at least one of these perks will lose out in the battle for new and existing customers.

Published By Datamonitor
04 Apr 2014
Expert View
Expert View

M&S ups the ante and drops the fees

M&S Bank's new fee-free account signals its intention to become a mass market provider. The account, which offers generous terms, joins its existing range of paid-for accounts.

Published By Datamonitor
10 Mar 2014
Expert View
Expert View

Banks must act to stop packaged account flight

Packaged account customers are more interested in the product than the provider, and are therefore less loyal. To retain these customers, banks must recognize that it is not simply convenience but the competitiveness of the product that drives provider choice.

Published By Datamonitor
10 Feb 2014
Expert View
Expert View

Metro Bank: not just for holidays

Metro Bank has indicated a change in strategy from maximizing the number of current account customers to increasing the value of its customer base by encouraging greater usage of its accounts.

Published By Datamonitor
23 Jan 2014
Expert View
Expert View

Tesco and Virgin face current account battle

Having finally announced plans to enter the current account market in 2014, both Tesco Bank and Virgin Money will have to work hard to persuade consumers to switch in significant numbers.

Published By Datamonitor
08 Jan 2014
Expert View
Expert View

Santander still the cashback king

Recent attempts to replicate Santander's triumph in attracting customers through its 123 account, which offers cashback on regular outgoings, are likely to have little success due to their lack of scale and regularity.

Published By Datamonitor
14 Nov 2013
Expert View
Expert View

Clydesdale and Yorkshire ready to compete on interest rates

Clydesdale and Yorkshire Banks have launched an attractive current account. However, they face an increasingly competitive interest-paying current account market.

Published By Datamonitor
31 Oct 2013
Expert View
Expert View

Pub education for British expats

Mobile banking penetration is low among British expats. Providers reaching out to this otherwise well banked segment need to invest in customer education to increase mobile banking adoption rates.

Published By Datamonitor
25 Oct 2013
Expert View
Expert View

Seven-day switching will not transform the current account market

The newly launched seven-day current account switching service will not drive a significant rise in consumer mobility, as it only addresses one of the many reasons for the high levels of inertia in this market.

Published By Datamonitor
17 Sep 2013
Expert View
Expert View

Challenger banks need to rethink acquisition strategies

The new UK switching rules will have little impact on customers' propensity to change bank accounts. Challenger banks will need to take an aggressive approach to acquiring customers and growing market share.

Published By Datamonitor
14 Aug 2013

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