Shoppers are looking for new checking accounts due to relocating for work or personal reasons, as summertime is peak moving season. Fewer shoppers are switching due to bad customer experiences. More shoppers are currently without checking accounts or looking for an additional account compared to 2012.

1. 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.