Commercial Bank Selection: Comparison between Single and Multiple Bank Users in Malaysia

Abstract

This paper presents an empirical study of selection criteria employed by single and multiple bank users and to see if certain personal characteristics can be used to differentiate these two segments. The study chose to sample a specific consumer segment in Malaysia, namely the young-adults, which have not been given enough attention in the literature. Selection factors of which both single and multiple bank users had variation were attractiveness, branch location, ATM service, financial benefits and secure feeling. Multiple-bankers appear to place significantly more importance to all these factors. Female customers engage in multiple banking significantly more than their male counterparts. The implications of the findings were discussed and opportunities for future research were provided.