The multiple banking behaviour of Singaporeans

This study, using a sample of adult Singaporeans, established that 76.8 per cent of its respondents engaged in multiple banking. The Post Office Savings Bank was main bank to 61.3 per cent of the respondents, while the local full licence banks were main bank to 35.1 per cent of the respondents. These same banks held 27.6 per cent and 66.1 per cent respectively of subsidiary bank relationships. Multiple bank customers were typified as being people who were tertiary educated, were Chinese and were paid an income of $2,000 p.m. and above. No significant differences were found upon comparing single and multiple banking customers based on five psychographic characteristics.