Academic journal article ABA Banking Journal

But Do Banks Offer Good Value?

Academic journal article ABA Banking Journal

But Do Banks Offer Good Value?

Article excerpt

The chart at right is another way of taking the public's pulse on the cost of banking services. In some ways it may be a better barometer than the chart about fees shown on the previous page. People naturally tend to say "no" when asked, "Do you think fees are appropriate?" More important is whether they think they are getting value for what they pay for.

The good news from the chart at right is that a majority of bank users agree that banks are good value for the fees paid. However, only about one in ten "strongly agree," while a similar proportion "strongly disagree."

Consumers over the age of 55 are more likely to agree with the statement, the researchers note, as are those without a college education and those who primarily use banks. The fact that primary users are more likely to agree suggests a direct connection between how broad a relationship a customer has with a bank, and perception of value.

Conversely, consumers who are younger and have a college education are more likely to disagree with the statement. Naturally people who don't use banks at all are much more likely to strongly disagree (30% versus 13%). …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.