ING: Fee-free banking gains importance
ING Türkiye's "Outdated Norms Survey" revealed shifting consumer expectations regarding banking fees and traditional financial practices.
According to the survey, 80% of respondents no longer consider annual credit card fees acceptable, while 73% reject charges for FAST, bank transfers, and electronic funds transfers (EFT). Additionally, 65% believe paying fees for SWIFT transactions should not be considered normal. The findings also showed that 76% of respondents consider visiting a physical location to pay bills unnecessary, while 69% question the need to pay fees when using other banks' ATMs.
Looking ahead to the next five years, fee-free banking ranked among consumers' top priorities at 83%, followed by hassle-free banking at 81%. While 60% of respondents want annual credit card fees eliminated and 58% favor removing money transfer charges, only 41% and 37%, respectively, believe these changes will become a reality. ING Türkiye stated that it already offers individual customers free FAST, bank transfers, EFT, and SWIFT transactions through its digital channels, alongside no-annual-fee credit card options and investment transactions without Central Securities Depository (MKK) fees.
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