So if it’s not because of fees, why are shoppers looking for a new checking account now? Relocating
(for work or personal reasons) has always been a primary driver of bank switching, and summertime
is peak moving season. Other notable differences between this year’s query and the one fielded
September 2012 include a decline in the percentage of shoppers indicating they’re switching
because of a bad customer experience. There has also been increases in the number of shoppers
currently without checking accounts and those looking for an additional account.