View Full Report With TOC@http://www.researchmoz.us/packaged-and-current-accounts-uk-july-2013-report.html Around one in 13 current account holders have switched their main account provider in the past year. The churn rate could increase over the coming year, with the introduction of a faster seven-day switching service in autumn 2013 and the addition of new products and providers.

1. Packaged and Current Accounts - UK - July 2013
Around one in 13 current account holders have switched their main account provider in the past year. The
churn rate could increase over the coming year, with the introduction of a faster seven-day switching service
in autumn 2013 and the addition of new products and providers.
table Of Content
introduction
report Scope And Product Definitions
abbreviations
executive Summary
the Market
size Of The Current Account Customer Base
industry Turnover
figure 1: Distribution Of Current Account Revenue, By Income Source, 2007 And 2011
revenue Streams
growth In Packaged Account Fees
market Factors
new Packaged Account Rules
faster Switching Service To Be Introduced
last Oft Review Critical Of Complex Charging Models And Lack Of Market Competition
companies, Brands And Innovation
largest Providers Of Current Accounts
figure 2: Share Of Main Current Account Market, By Top Six Providers (on A Group Basis), June 2013
increased Product Launches
adspend Rises Off The Back Of New Product Launches
the Consumer
current Account Ownership
figure 3: Number Of Personal Current Accounts Held, June 2013
product Penetration
figure 4: Type Of Current Account Held, June 2013
perceived Relevance Of Common Packaged Account Benefits
over Half Of Current Account Holders Access Online Banking At Least Once A Week
figure 5: Frequency Of Using Banking Services Provided By Main Current Account Provider, June 2013
past Switching Behaviour
figure 6: Proportion Of Current Account Holders Who Have Switched Their Main Account Provider, June
Packaged and Current Accounts - UK - July 2013

2. 2013
reasons To Switch
figure 7: Top Five Factors Most Likely To Persuade People To Switch Their Main Current Account Provider,
June 2013
what We Think
issues In The Market
how Many Current Accounts Do People Have?
what Types Of Account Do They Hold?
what Is The Level Of Customer Churn?
what Are The Prospects For New Entrants Into The Market?
trend Application
trend: Make It Mine
trend: Extend My Brand
mintel’s Futures: Access Anything, Anywhere
market Drivers
key Points
regulatory Round Up: Recent Developments
current Account Complaints Up By A Third In 2012/13
figure 8: Number Of New Complaints Relating To Current Accounts Received By New Cases Received By
Fos, 2008-13
increased Margins On Overdraft Lending
figure 9: Average Monthly Overdraft Interest Rate, Three-month Libor And Official Bank Rate, March
2007-march 2013
fall In Current Account Fraud
retail Deposits Grow By 5% In 2012
figure 10: Retail Savings Balances, By Sector, 2003-12
market Swot Analysis
figure 11: Uk Personal Current Account Market – Swot Analysis, 2013
who’s Innovating?
key Points
surge In Packaged Accounts
figure 12: Number Of Packaged Versus Standard Current Accounts Available And Average Packaged
Account Fee, 2008-13
Packaged and Current Accounts - UK - July 2013

3. recent Promotions And New Product Launches
santander’s 123 Current Account
lloyds Tsb’s Temporary Vantage Offer
nationwide Launches Online Current Account And Its First Packaged Account Offering
rewarding Loyalty
targeting Switchers
banks Introduce Charges To Help Customers Stay In ‘control’
new Market Entrants
m&s Bank Launches Premier Current Account
post Office Enters The Fray
market Size And Segmentation
key Points
number Of Current Accounts Continues To Rise, Driven By The Growth In Multiple Account Holdings
figure 13: Estimated Number Of Current Accounts And Current Account Holders – Uk, 2013
one In Seven Accounts Are Of The Packaged Or Premium Variety
figure 14: Distribution Of Customer Accounts, By Type Of Account, 2007-13
market Revenue
key Points
packaged Account Fee Income Reached Over £1 Billion In 2011…
figure 15: Distribution Of Current Account Revenue, By Income Source, 2007 And 2011
strong Growth In Packaged Account Fees…
equating To Over A Third Of Total Market Revenue
figure 16: Average Account Revenue And Share Of Total Revenue, By Type Of Account (all Accounts),
2011
packaged Accounts Generate Double The Revenue On Average
figure 17: Average Revenue, By Type Of Account And Income Source (active Accounts Only), 2011
market Share
key Points
lloyds Tsb Is The Largest Provider Of Current Accounts
figure 18: Current Account Provider Rankings, By Share Of Main Current Account Market, June 2013
top Six Banking Groups Control 94% Of The ‘main’ Account Market
figure 19: Share Of Main Current Account Market, By Top Six Providers (group Basis), June 2013
survey Background
companies And Products
lloyds Banking Group
Packaged and Current Accounts - UK - July 2013

4. figure 20: Lloyds Tsb Current Account Range, June 2013
figure 21: Halifax Current Account Range, June 2013
figure 22: Key Annual Financial Data For Lloyds Banking Group, 2011 And 2012
rbs Group
figure 23: Rbs And Natwest’s Current Account Range, June 2013
figure 24: Key Annual Financial Data For Rbs Group, 2011 And 2012
barclays
figure 25: Barclays’ Current Account Range, June 2013
figure 26: Barclays’ Current Account Pack Range, June 2013
figure 27: Key Annual Financial Data For Barclays Plc, 2011 And 2012
hsbc
figure 28: Hsbc’s Current Account Range, June 2013
figure 29: First Direct’s Current Account Range, May 2013
figure 30: Key Annual Financial Data For Hsbc Bank Plc, 2011 And 2012
santander
figure 31: Santander Current Account Range, June 2013
figure 32: Key Annual Financial Data For Santander Uk, 2011 And 2012
nationwide
figure 33: Nationwide’s Current Account Range, June 2013
figure 34: Key Interim Financial Data For Nationwide Building Society, H1 2011 And H1 2012
new Entrants And Potential Challengers
metro Bank
m&s Bank
post Office
virgin Money
tesco Bank
brand Communication And Promotion
key Points
current Account Adspend Rises As Competition Hots Up
figure 35: Advertising Expenditure On Personal Current Accounts And Related Money-transmission
Services, By Product Sub-category, 2011-13
in The Latest Year, Tv Again Claimed The Largest Share Of Industry Adspend
figure 36: Share Of Advertising Expenditure On Current Accounts And Related Money-transmission
Services, By Media Type, 2011-13
… And Lloyds Tsb Was The Top Advertiser
figure 37: Top Ten Advertisers Of Current Accounts And Related Money-transmission Services, 2011-13
a Note About Nielsen Media Research
Packaged and Current Accounts - UK - July 2013

5. channels To Market
key Points
decline In The Uk Branch Network Continues
figure 38: Uk Bank And Building Society Branch Networks, 2003-11
many Branch Closures Are The Result Of Consolidation
figure 39: Number Of Branches Operated, By The Top Six Retail Banking Groups, Start 2013
more Will Close In 2013 And 2014, But New Entrants Will Help Reverse The Trend
although Branch Usage Has Declined Over The Past Few Years, It Is Still The Most Widely Used Channel
figure 40: Methods Used To Access Current Account In The Last 12 Months, 2008 And 2012
branch Visits Occur Much Less Regularly Than Online Logins
figure 41: Frequency Of Using Banking Services Provided By Main Current Account Provider, June 2013
current Account Ownership
key Points
survey Background
a Very Small Minority Have No Current Account
figure 42: Number Of Personal Current Accounts Held, June 2013
just Over A Third Of Current Account Customers Have Multiple Accounts
more Than A Quarter Of Current Account Holders Have A Joint Account
figure 43: Segmentation Of Current Account Holders, By Sole Or Joint Account Ownership, June 2013
around One In Seven Have A Packaged Or Premium Account
figure 44: Type Of Current Account Held, By Number Of Accounts Held, June 2013
joint Account Holders Are More Likely To Have A Packaged Account
figure 45: Type Of Current Account Held, By Sole Or Joint Ownership, June 2013
typical Packaged Account Holder
perceived Relevance Of Packaged Benefits
key Points
breakdown Cover And Id Theft And Card Protection Are Viewed As The Most Relevant By Customers
figure 46: Inclusion And Perceived Relevance Of Common Packaged Account Benefits, June 2013
opinions For And Against
advocates
waverers
critics
switching Experience
key Points
one In 12 Account Holders Have Switched Their Main Account In The Past Year
figure 47: Proportion Of Current Account Holders Who Have Switched Their Main Account Provider, By
Number Of Accounts Held, June 2013
Packaged and Current Accounts - UK - July 2013

6. multiple Account Holders Are More Likely To Have Switched
but Half Of All Account Holders Have Never Switched
figure 48: Proportion Of Current Account Holders Who Have Switched Their Main Account Provider, By
Sole Or Joint Ownership, June 2013
around A Quarter Of Packaged Account Holders Have Changed Their Main Provider In The Past Three Years
figure 49: Proportion Of Current Account Holders Who Have Switched Their Main Account Provider, By
Type Of Account Held, June 2013
hsbc Has The Most Loyal Customers
figure 50: Proportion Of Current Account Holders Who Have Switched Their Main Account Provider, By
When Switch Occurred And Existing Main Account Provider (top Seven Only), June 2013
nationwide Has Highest Percentage Of Recent Switchers
to Switch Or Not To Switch
switching Motivation
key Points
two Fifths Of Current Account Holders Would Switch Banks If Their Own Provider Introduced A Monthly
Fee
figure 51: Factors Persuading Current Account Holders To Switch, June 2013
push Factors Are More Persuasive
figure 52: Comparison Of Switching Factors, By Type, June 2013
santander And Halifax Customers Are Most Susceptible To Pull Factors
figure 53: Factors That Would Persuade Current Account Holders To Switch, By Main Account Provider (top
Seven Only), June 2013
appendix – Market Share
figure 54: Main Current Account Provider (top Seven Only), By Demographics, June 2013
figure 55: Customer Profile For The Top Seven Current Account Providers, June 2013
appendix – Current Account Ownership
figure 56: Number Of Current Accounts Held, By Demographics, June 2013
figure 57: Segmentation Of Current Account Holders, By Sole Or Joint Account Ownership, By
Demographics, June 2013
figure 58: Type Of Current Account Held, By Demographics, June 2013
appendix – Perceived Relevance Of Packaged Benefits
figure 59: Inclusion And Perceived Relevance Of Common Packaged Account Benefits, June 2013
figure 60: Benefits Included And Relevant In Packaged Account (top Five), By Demographics, June 2013
figure 61: Benefits Included And Relevant In Packaged Account (next Five), By Demographics, June 2013
figure 62: Benefits Included And Relevant In Packaged Account (final Four), By Demographics, June 2013
Packaged and Current Accounts - UK - July 2013

7. appendix – Switching Experience
figure 63: Most Popular Proportion Of Current Account Holders Who Have Switched Their Main Account
Provider, By When Switch Occurred, By Demographics, June 2013
appendix – Switching Motivation
figure 64: Factors Persuading Current Account Holders To Switch (top Five), By Demographics, June 2013
figure 65: Factors Persuading Current Account Holders To Switch, By Demographics (next Four), June 2013
figure 66: Factors Persuading Current Account Holders To Switch (final Two), By Demographics, June 2013
figure 67: Push, Pull And Convenience (netted) Factors, By Demographics, June 2013
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Packaged and Current Accounts - UK - July 2013