How consumers choose a financial institution: decision‐making criteria and heuristics

Jinkook Lee (The Ohio State University, Columbus, Ohio, USA)
Julia Marlowe (The University of Georgia, Athens, Georgia, USA)

International Journal of Bank Marketing

ISSN: 0265-2323

Publication date: 1 April 2003


Using both qualitative and quantitative approaches, how consumers choose a financial institution for their checking accounts is investigated in this study. It was found that, although most consumers value convenience as one of the most important decision‐making criteria, their definitions of convenience vary across consumers. How different consumers use different decision‐making criteria and heuristics is reported, and the implications for financial service marketers are drawn from the findings.



Lee, J. and Marlowe, J. (2003), "How consumers choose a financial institution: decision‐making criteria and heuristics", International Journal of Bank Marketing, Vol. 21 No. 2, pp. 53-71.

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Copyright © 2003, MCB UP Limited

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