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Insights into customer motivations for switching to Internet banking

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The main objective of this paper is to provide an insight into some factors which explain why customers in the retail banking sector might consider switching from traditional methods of conducting their banking activities to Internet banking, either partially or fully. In particular, the customers' satisfaction, or otherwise, with various elements of traditional banking offerings, along with various demographic factors, are compared to their propensity to use Internet banking. Results suggest that, perhaps surprisingly, customers' general level of satisfaction with bank charges and overdraft interest rates have no significant influence on their propensity to use Internet banking. Satisfaction with the bank's efficiency and responsiveness to remote enquiries is associated with a higher propensity to use Internet banking, as is satisfaction with availability and reliability of ATMs and lower satisfaction with elements of 'in-branch' service.

Keywords: Customer choice of distribution channels; Internet banking; distribution of financial services

Document Type: Research Article


Affiliations: 1: Nottingham University Business School Jubilee Campus Nottingham UK 2: Open University Hong Kong

Publication date: January 1, 2003

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