Around 45% of customers in the US consider low or no fees as a major factor in depositors’ banking preferences when compared to rates, convenience and service, according to survey by GoBankingRates.
The survey, which asked 1,517 US participants with ‘which bank feature they valued the most in a financial establishment,’ revealed that 44.7% polled low or fee-free financial institution to be of greater value over banks offering other important services.
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The other features opted by customers include online and mobile banking (17.4%), convenient branch locations (14.2%), exceptional customer service (12.1%) and great interest rates (11.6%).
According to the company, age and income also played a crucial role among bank customers while selecting features.
For example, customers earning between $100,000 and $149,999 were on the lookout for competitive interest rates while choosing a bank or credit union. Similarly, youngsters found online and mobile banking features most important than customers from other age group.
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By GlobalData
