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03 january 2008

Customer mobility – a realistic approach

In November 2007, the European Commission asked bankers to prepare common self-regulation guidelines to make it easier for their customers to switch banks. These rules will fi rst be tested at the national level. If self-regulation is not deemed successful the Commission will consider legislative intervention.


This initiative was decided after a consultation on customer mobility in 2007. It is consistent with the FBF's view that customer mobility is above all a national issue, as expressed in its observations on the June 2007 experts' report on customer mobility. If a European initiative in this area is deemed worthwhile, the FBF believes that it must be pragmatic and take into account the fundamental nature of the bank-customer relationship, which is founded on trust, proximity and quality of service, and the diversity of this relationship among the EU member states. Intra-bank mobility and the fact that many customers have two or more banks should also be taken into consideration.

According to this report, France's customer mobility rate stands at about the average rate for Europe, i.e. 7.75%. French banks have already taken steps to foster mobility.

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