It was not possible to obtain a clear answer to this question, the banking landscape is too diverse for that. Nevertheless, Roularta Research's bank survey was very well received by the sector, not least because each bank was able to compare the results with information from its own research. The findings are often similar. The respondents in this survey were mainly men aged 45 and above, in management positions or with an employee profile. Below, we share the general findings on the relationship between the Belgian and his bank.
Which forms of investment are popular?
In addition to the inevitable current accounts and savings accounts, the Belgian diversifies his portfolio. More than half invest in funds, but shares and bonds are also popular. Crypto money timidly sets in. The older one is, the more one turns to funds rather than to shares.
How 'close' is the Belgian to his bank?
Respondents have daily to weekly contact with their bank, mainly for online banking. Only 6% never do transactions via the website. On the other hand, contactless payment is not yet established, only 1 out of 5 respondents has experience with it. We notice an important difference in the integration of new payment methods: the younger people are, the easier they become familiar with the new facilities.
Bank relationships are far from exclusive: only 1 out of 4 respondents has only one bank. More than half of the respondents have 2 or 3 banks and 5% even have 5 or more banking partners. Moreover, people are not really loyal to their bank. 1 out of 3 respondents switched banks in the past year, 19% considered it, the other half remained loyal to their bank. Gender has no impact on this, but age does: the older, the more loyal they are.
Why does the Belgian still go to the bank office?
For two-thirds of the respondents, personal contact with the bank is still the most important way to arrange their banking affairs. Approximately 40% contact their bank by phone or e-mail. Only 2% use the chat feature. 78% of the respondents arrange the majority of their banking digitally and/or mobile.
People mainly go to the bank office to withdraw money (68%), to get investment advice (39%), to pick up their bank or credit card (28%) or to solve bank card problems (26%).
This survey also enabled us to better understand the respondents' appreciation of Belgian banks. Of course, this information was only shared with the banks concerned.
Please contact Johan for more details about this survey.