This statistic presents the grounds for not switching an easy access savings accounts in the United Kingdom (UK) as of 2014. The main reason for sticking with the current provider was the satisfaction with the quality of service - mentioned by 35 percent of respondents.
Reasons for remaining with the current easy access savings accounts in the United Kingdom (UK) as of 2014
Characteristic
Share of respondents
I am happy with the quality of service
35%
I have been with this provider for a very long time
26%
No reason - I just haven't thought about it
23%
Convenience, because I hold other financial products with my current provider
19%
Convenience, my current provider has a local branch
18%
Other providers do not offer significanly better products of rates
13%
I do not think I can get a better rate from the providers I would consider switching to
8%
I think this rate is probably a reasonably good rate
8%
I don't trust the switching process - I'm worried about losing some of my savings or interest
3%
The rate I have is market leading
3%
I have experienced problems before in switching / It takes a lot of time time and effort
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Financial Conduct Authority. (January 20, 2015). Reasons for remaining with the current easy access savings accounts in the United Kingdom (UK) as of 2014 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/460684/customers-not-switching-savings-accounts-in-the-uk/
Financial Conduct Authority. "Reasons for remaining with the current easy access savings accounts in the United Kingdom (UK) as of 2014." Chart. January 20, 2015. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/460684/customers-not-switching-savings-accounts-in-the-uk/
Financial Conduct Authority. (2015). Reasons for remaining with the current easy access savings accounts in the United Kingdom (UK) as of 2014. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/460684/customers-not-switching-savings-accounts-in-the-uk/
Financial Conduct Authority. "Reasons for Remaining with The Current Easy Access Savings Accounts in The United Kingdom (Uk) as of 2014." Statista, Statista Inc., 20 Jan 2015, https://www-statista-com.ezproxy.canberra.edu.au/statistics/460684/customers-not-switching-savings-accounts-in-the-uk/
Financial Conduct Authority, Reasons for remaining with the current easy access savings accounts in the United Kingdom (UK) as of 2014 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/460684/customers-not-switching-savings-accounts-in-the-uk/ (last visited November 10, 2024)
Reasons for remaining with the current easy access savings accounts in the United Kingdom (UK) as of 2014 [Graph], Financial Conduct Authority, January 20, 2015. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/460684/customers-not-switching-savings-accounts-in-the-uk/
