retail financial services - European Commission - Europa EU

1.1.2.1. Length of ownership of financial products at overall level........ 16. 1.1.2.2. Length of ownership of financial products by product .............. 20. 1.2 Reasons ...
6MB Sizes 4 Downloads 126 Views
Special Eurobarometer 373

RETAIL FINANCIAL SERVICES

REPORT

Fieldwork: September 2011 Publication: March 2012

This survey has been requested by Directorate-General Internal Market and Services and co-ordinated by Directorate-General for Communication (DG COMM “Research and Speechwriting” Unit). http://ec.europa.eu/public_opinion/index_en.htm This document does not represent the point of view of the European Commission. The interpretations and opinions contained in it are solely those of the authors.

Special Eurobarometer 373 / Wave EB76.1 – TNS Opinion & Social

Special Eurobarometer 373

Retail Financial Services

Conducted by TNS Opinion & Social at the request of Directorate-General Internal Market and Services

Survey co-ordinated by Directorate-General Communication

SPECIAL EUROBAROMETER 373

“Retail Financial Services”

TABLE OF CONTENTS INTRODUCTION................................................................................................ 4 EXECUTIVE SUMMARY ...................................................................................... 7 1.

FINANCIAL PRODUCTS ........................................................................... 9 1.1

Financial products ........................................................................... 9

1.1.1 The type of financial products and services that people have .......... 9 1.1.2.1

Length of ownership of financial products at overall level........ 16

1.1.2.2

Length of ownership of financial products by product .............. 20

1.2 Reasons for not having a current bank account ................................. 24 2.

CROSS BORDER PURCHASING............................................................... 28 2.1.

Cross-border purchasing ............................................................... 28

2.1.1 Cross-border purchasing among all product holders ...................... 28 2.1.2 Cross-border purchasing by individual products held .................... 32 2.2.

Attitudes to cross-border purchasing ............................................ 33

2.2.1 Which products people would buy in other EU countries ................ 33 2.2.2 Reasons for not buying financial products in other EU countries .... 38 3.

EXPERIENCE OF PURCHASING FINANCIAL PRODUCTS .......................... 43 3.1.

Channel of purchase ...................................................................... 43

3.2

Information given at purchase ...................................................... 52

3.2.1 Information received about remuneration ..................................... 52 3.2.2 Written information received about the product ............................ 61 3.3

Consumer awareness .................................................................... 65

3.3.1 Whether consumers shop around before buying financial products 65 3.3.2 Whether the product came recommended ..................................... 74 3.4

Switching ...................................................................................... 85

2

SPECIAL EUROBAROMETER 373

4.

“Retail Financial Services”

PROBLEMS AND COMPLAINTS ............................................................... 96 4.1.

Problems experienced ................................................................... 96

4.2.

Complaints and redress ............................................................... 100

4.2.1 Complaints about problems with financial products..................... 100 4.2.2 Where people take their complaints if they experience a problem 105 5.

PAYING FOR OTHER GOODS AND SERVICES .........................