Abstract
This study seeks to identify the types of incidents which cause consumers to switch between banks, the weighting of each incident on the switching decision, whether single or multiple incidents influence switching decisions, and the extent to which switchers explain the problems they have faced prior to exiting. The key findings show that bank switching is strongly influenced by three types of incident: service failures, pricing and inconvenience, with pricing being more influential. Seventy‐five percent of bank switching is caused by more than one incident, and some 7 percent of respondents said they had spoken to bank staff in the period before exiting. The implications of these findings are presented.
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