Ipsos B&A conducted the Consumer Sentiment Banking Survey 2024 on behalf of the Department of Finance to ascertain consumer experience and perceptions of the banking sector in Ireland. The first wave of this annual survey was conducted in 2022, as part of the Department of Finance Retail Banking Review.

The 2024 survey shows an increase in overall satisfaction with the main financial providers from 82% in 2023 to 86%. More customers are using multiple financial providers, with 66% having more than one provider, up from 57% in 2023. 36% use credit unions at least occasionally, up from 30% in 2023. The survey results also report on the continued increase in the use of ‘fintech’ by consumers of financial services in Ireland. This includes a growing use of apps on smartphones and contactless payments by customers of traditional banks. In terms of switching, there remains a low level of switching intent, however, there is an increasing belief of more competitiveness/choice in the market. This is highest for savings accounts and credit cards and lowest for mortgages.

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For more details and the full report, please contact Jimmy Larsen: jimmy.larsen@ipsos.com