Despite the recent financial scandals, new research has revealed that millions of customers still feel loyal to their banks.
Plastic Card Services surveyed 2,000 UK adults and found one in five banking customers – 10m UK adults – claim to have a sense of loyalty to their personal bank and have no intention to swap.
However, this isn’t recirprocated across all respondants with one in 10 saying they felt no loyalty whatsoever to their personal finance institution.
The most loyal were found to be the over 55s, followed by those under 35, whilst loyalty was also highest in the North East.
Rob Nicholls, MD of Plastic Card Services, said: “Despite a number of different scandals, millions of customers remain loyal to their bank. This just shows that trust and loyalty is gained over a long period of time and does not disappear in many cases overnight.
“Overall, the results show that Brits are a loyal lot, yet not all industries are really using this to commercial advantage.”