About half of consumers would switch banks if offered better perks at other banks. (iStock)
Consumers tend to stick with their banks, but some can’t turn down incentives that certain online-only banks offer. More than one in three consumers in a Vericast study said they’ve had the same bank longer than they’ve had their current romantic partner.
Customers appear to stick with the same bank out of convenience more than anything. About 46% of those surveyed said they would be open to switching to other financial institutions if those institutions could address their specific financial needs.
When seeking new banks, customers are mainly interested in money-earning incentives. Two major motivators customers stated for potentially switching banks included seeking better rates and earning cash back for opening a new account. Consumers also appreciate the idea of checking…
