Latest Intelligence on Current Accounts

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Type Product title / description Pub Price
CommentWire
CommentWire

RBA: new data fuel penalty fee debate

New data released by the Reserve Bank show that Australian banks amassed almost A$1 billion in penalty fees from consumers, including late and overdraft fees. The figures add weight to consumer groups' criticism of excessive penalty fees, but the Australian Bankers' Association has defended the charges, noting that they are easily avoidable by conscientious consumers.

Published By Datamonitor
22 May 2009
CommentWire
CommentWire

RBS: move towards traditional banking modes is a sign of a wider shift in the cards market

On October 1, the Royal Bank of Scotland said that its RBS and NatWest brands will no longer issue new credit cards to anyone other than their current account customers. The move, coming as it does on the heels of an announcement by HSBC that it will be focusing on its existing clients, suggests a continuing shift towards traditional banking models for credit card issuers.

Published By Datamonitor
15 Oct 2009
Expert View
Expert View

Reputation is vital for success in banking

Consumers are increasingly influenced by the reputation of banks when choosing to purchase a product. Banks with tarnished reputations will find it more difficult to acquire new customers.

Published By Datamonitor
28 Sep 2012
Expert View
Expert View

Santander hits the mark with 123

Santander has seen a substantial increase in its current account balances thanks to the success of its 123 current account. The rise in deposits is the result of a well-targeted and well-marketed proposition.

Published By Datamonitor
02 May 2013
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

Santander's monthly fees a winner

There may be a future for fee-charging current accounts after all. Santander's recent customer acquisition success proves that consumers are willing to pay for their current account if they feel they are getting good value.

Published By Datamonitor
01 Aug 2014
Expert View
Expert View

Security top priority for Asia Pacific migrants

Banks targeting migrants from Asia Pacific need to educate this potentially lucrative segment about investment options, while leading with products that appeal to their need for financial certainty.

Published By Datamonitor
23 Oct 2013
ResearchWire
ResearchWire

Senior consumers: price matters for empty nesters

Published By Datamonitor
27 Oct 2005
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

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

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