TRUST is now the third most important attribute listeners look for when choosing a bank, up from fifth most important factor seven months ago. As a result, many have already switched banks or are considering it. There is a swing towards looking at the non-Big Four Banks for opening a new bank account, as they shy away from the Big Four players. These smaller institutions also include credit unions and building society’s where trust levels are strongest.

For more information on people’s thoughts and attitudes towards the Royal Commission, check out the report.