Consumer choice in SA banks

Results from the recently released Mobility 2012 study suggests that most consumers use Absa for their primary bank account, while First National Bank (FNB) dominates in cellphone banking.

World Wide Worx conducted the study with the backing of FNB, using Dashboard to provide the field research.

Dashboard interviewed 1,195 adults living in both urban and rural areas between May and June 2012. Interviews were conducted in the respondents’ home language, Dashboard said.

Of the respondents, 75% said that they have a bank accounts. This is an increase compared to the results of the 2010 survey which indicated that 68% of South Africa’s population was banked.

In their cellphone banking survey, Searll said that of a sample of 900 adults, 248 said that they use the feature.

Respondents were also asked which methods of mobile banking they use, with 59% saying the use only USSD, 5% saying they only use the phone’s browser, and 36% saying they use both.

The table below shows the market share of primary bank accounts and cellphone banking in SA, as found by the Mobility 2012 survey:

2012 SA banks consumer market share
Bank Primary accounts Cellphone banking
Urban Rural Total Urban Rural Total
Absa 34% 28% 32% 24% 21% 23%
FNB / RMB 22% 26% 24% 38% 43% 39%
Standard 22% 21% 22% 19% 16% 19%
Capitec 10% 12% 11% 11% 10% 10%
Nedbank 9% 7% 9% 7% 10% 8%
Post Office 1% 5% 3% N/A N/A N/A
Other 1% 0% 1% 1% 0% 1%

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Consumer choice in SA banks