Fees, Rates Drive Bank Switching in Asia-Pacific
A Celent 2026 global consumer survey finds credit fees and interest rates rank among the top reasons customers change banks.
Updated on Nov. 2, 2026 in Banking
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Have you switched banks, or considered it, because of fees or interest rates?
Celent's 2026 Global Consumer Survey found that 51% of Asia-Pacific respondents ranked fees and credit interest rates among their top three reasons for switching banks. The survey, conducted from June to July 2026, also found 25% of global respondents had recently considered changing their primary bank.
Why it matters
The findings suggest that pricing on credit products is a major driver of customer loyalty in the region, which may pressure banks to compete more directly on fees and rates. Digital banking quality also ranks as a meaningful switching factor, particularly in Asia-Pacific.
51% of APAC respondents ranked fees and credit rates in their top three switching reasons, compared with 45% in Europe and 43% in North America. Digital features were cited by 43% in APAC, 39% in North America and 37% in Europe.
The players
Celent
Celent is a research and advisory firm focused on financial services technology and consumer banking trends.
The details
Respondents selected up to three reasons from a list of factors for changing banks. Beyond fees and rates, 42% of APAC respondents cited better fee waivers and relationship-based rewards, while 30% cited trust in another bank and 30% cited faster, more reliable payment services.
Timeline
June to July 2026: Celent conducts its Global Consumer Survey.
November 2, 2026: Findings are published.
Market Dynamics
The survey points to competitive pressure in consumer banking as fee structures and digital service quality increasingly determine which institutions retain customers. Banks in Asia-Pacific face a market where relationship pricing and mobile features carry weight comparable to traditional loyalty drivers.
Customers weighing a bank switch can compare credit card annual fees, interest rates and relationship-based waivers before committing. Those prioritizing digital tools may find that feature gaps are a reasonable reason to move accounts.
The takeaway
Fees and interest rates are the most common reasons customers consider leaving their bank, so comparing these costs before opening or keeping an account can meaningfully affect long-term expenses. Digital banking quality also matters, so checking app and online tools is worthwhile.
Further reading
For more on how customers choose and change their accounts, explore our Banking coverage.
Source note: This article includes information reported by Asian Banking & Finance.
Live Poll
Have you switched banks, or considered it, because of fees or interest rates?
