1. Market Research
  2. > Financial Services
  3. > Banking Market Trends
  4. > Fee-Based Banking: Sizing the UK Market Opportunity

Fee-Based Banking: Sizing the UK Market Opportunity

  • November 2013
  • -
  • GlobalData
  • -
  • 34 pages

Summary
With traditional packaged accounts under great scrutiny, banks must explore other options for persuading consumers to pay fees for current-account related products and services. This report segments the market for fee-based current accounts and recommends strategies for providers to boost usage of paid-for current account services.


Synopsis
- Gauge the current size of the fee-based current account market in the UK, and how large it can realistically be expected to grow.
- Understand how the UK market is segmented with respect to users and non-users of fee-based current accounts.
- Learn about which strategies will prove most effective in persuading consumers to pay for current account-related services.
- Overcome customer inertia by recognizing the reasons for not holding a packaged account.

Reasons To Buy
- How should providers respond to the threats facing the packaged account market?
- What alternative strategies can providers employ to increase fee-based revenues?
- How large is the fee-based current account market, and how much bigger can it grow?

Key Highlights
Packaged accounts are under attack on several fronts. The sale of such accounts is now governed by strict regulations, complaints about mis-selling of packaged accounts are rising, and many banks have responded by suspending or discontinuing them altogether. Providers will therefore have to find other ways to boost fee-based revenues.

Current account customization is an effective route towards increased fee-based revenues. Most consumers are open to the idea of designing their own accounts. Banks can respond by offering specific services, such as discounted overdrafts and shorter call waiting times, as individually paid-for extras.

The paid-for current account market is currently worth around £1.1bn per year. If providers can successfully target the most amenable non-paying consumers by offering premium services such as in-credit interest, preferential rates on other products, and enhanced personal financial management tools, the market could grow to £1.7bn per year.

Table Of Contents

Fee-Based Banking: Sizing the UK Market Opportunity

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Veronica

+1 718 514 2762

Purchase Reports From Reputable Market Research Publishers
Blockchain Technology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Blockchain Technology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

  • $ 5795
  • Industry report
  • January 2017
  • by Transparency Market Research

Global Blockchain Technology Market: Overview Blockchain technology offers a secure, fast, and cheaper medium of carrying out online transaction and online transfer of information without the need of third ...

Mobile Payment Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Mobile Payment Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

  • $ 5795
  • Industry report
  • February 2017
  • by Transparency Market Research

Global Mobile Payment Technologies Market: Overview This report provides an analysis of the global mobile payment technologies market for the period from 2014 to 2024, wherein the period from 2016 to 2024 ...

Top 10 Telecom Technologies - Forecast to 2021

Top 10 Telecom Technologies - Forecast to 2021

  • $ 5650
  • Industry report
  • February 2017
  • by MarketsandMarkets

“Reduction in queuing & transaction time and increased convenience in making low value payments are driving the contactless payment market” The contactless payment market is estimated to grow from ...

Russia Wealth Report 2016

November 2016 $ 4995

ref:plp2013

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.