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This year the average annual price of core banking services across the 26 studied countries
was €70 for the local active user, with price levels ranging from €52 in Asia-Pacific to €79 in
North America.
The average price fell slightly (1%) from last year.
We have confirmed again that as a nation’s economy matures, the proportion of its GDP
per capita allocated to banking services declines.
From 2006 to 2008, in their struggle to compete, banks used price to influence
customer behaviour:
Banks cut the price of sales influencers (e.g. current accounts, cards) by 0.8% a year to
promote sales.
Behaviour influencers of two kinds—lower cost products (e.g. online banking or
withdrawals at ATMs), whose prices banks cut by 0.2% a year to encourage their use;
and higher cost products (e.g. cheques or withdrawals at desk), whose prices banks
raised by 0.9% a year to discourage their use.
Unseen services (e.g. exceptions handling), for which prices remained unchanged.
North America’s price rose the most—averaging 5.7%—resulting primarily from higher
prices for payments and cash utilisation; its price had declined during the three previous
years due to fierce competition on account management fees.
Asia-Pacific’s price fell by 11.1% this year, essentially because of intensified competition in
Australia and India, particularly in payments and account management.
European prices remained stable, with only a 0.8% price increase across both the eurozone
and non-eurozone countries studied.
With the advent of SEPA, prices of pan-European payments have stabilised in the eurozone,
and (excluding Ireland) even decreased faster in Europe eurozone than in the rest of the world.
Price discrepancies between banks dropped significantly at both the country and region
levels; this was particularly striking in North America, although pricing differences in the
eurozone remained the smallest.
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PRICING INDEx
Key
Findings
PRICING INDEX
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