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The Determinants of Household's Bank Switching

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Abstract

We investigate the determinants of households’ bank switching in 2006-2012 period exploiting a unique representative dataset from Bank of Italy Survey on Household Income and Wealth that follows the households and their bank(s) over time. Focusing on the features of the household-bank relationship, we find that using more than a single bank, as well as the intensity (number of services used), and the scope (bank services used) of the relationship with the main bank also play a role in shaping the households’ decision to switch. Moreover, we find that this decision is strongly and positively correlated with both taking out and paying off a mortgage. We also find that education and financial literacy both matter for this decision, albeit with opposite effects and that, as expected, competition plays a role by increasing switching.

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  • Marianna Brunetti & Rocco Ciciretti & Ljubica Djordjevic, 2014. "The Determinants of Household's Bank Switching," CEIS Research Paper 322, Tor Vergata University, CEIS, revised 11 Nov 2015.
    • Handle: RePEc:rtv:ceisrp:322
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    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance

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