Financial products quality thanks to new high street banks opening for UK adults 2014

Published by Statista Research Department, Mar 26, 2014

This statistic presents the expectations of United Kingdom (UK) customers in regarding the change in quality of financial products and services offered after the arrival of new banks on the High Street from 2015 in the United Kingdom (UK). As of February 2014, 36 percent of respondents expected no significant impact on the quality of financial products available, while a similar share of respondents thought the offer would improve slightly (23 percent) or a lot (13 percent).

Customers expectations of the new high street banks opening on the financial services product quality in upcoming year in the United Kingdom (UK) as of 2014

Characteristic	Share of respondents
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Release date

March 2014

More information

Region

United Kingdom

Survey time period

February 2014

Number of respondents

2,048 respondents

Age group

18 years and older

Method of interview

Online survey

Supplementary notes

The question was phrased by the source as follows : "The Government has approved and is considering more than twenty new banking licences which will allow a number of new banks to open branches on the High Street from 2015. In your opinion, what impact, if any, will the arrival of these new banks on the High Street have on the quality of the financial services products to you as a customer (such as banking and savings accounts)?"

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