Since 2022 an annual tacking survey has been carried out on behalf of the Department of Finance to get an in-depth understanding of consumers’ experiences and perceptions of the retail banking sector in Ireland.
For the 2025 Survey, interviews were carried out face-to-face with more than 1,500 individuals by Ipsos Behaviour and Attitudes (B&A).
The 2025 Survey findings are relatively in line with last year. In terms of overall satisfaction with their main financial provider, 89% of respondents expressed satisfaction. This is up from 86% in 2024. Around 3% of respondents expressed dissatisfaction.
Consumers in Ireland continue to use multiple financial providers, with 66% having more than one provider, which is in line with 2024 and up from 57% in 2023. Forty three per cent use fintech providers at least occasionally; up from 39% in 2024, 33% in 2023 and 18% in 2022. Thirty four per cent use credit unions at least occasionally, with little change from 2024 (36%).
Switching continues to be relatively limited amongst mortgage holders, with just 8% in last 5 years. Half of all the switches in the past five years, which also includes switching current accounts, savings account and credit cards, were driven by the recent exits from the domestic retail banking market.
Minister Donohoe welcomed the findings of the 2025 Consumer Sentiment Banking Survey, saying:
‘The Consumer Sentiment Banking Survey provides an important annual insight into the behaviour and experiences of consumers in the retail banking sector in Ireland. This is particularly important given the ongoing evolution of the financial services sector, especially in terms of digitalisation and technological change’.
“The 2025 Survey highlights the ongoing, and emerging, trends in the retail banking sector. The preference, for instance, of consumers to pay by cash remains relatively steady at 22%, but those who prefer to pay by contactless smartphone has risen to 27%, up from 19% in 2022.
“The results of the 2025 Consumer Sentiment Banking Survey help to provide an insight into these developments from the consumer’s perspective. They also help to inform policies that underpin the robust consumer protection framework in place in Ireland for consumers of financial service.
“I also welcome the Survey’s findings that awareness of a range of statutory bodies that provide important services for consumers of financial services has increased; Money Advice and Budgeting Service (MABS) (64% up from 61%), Competition and Consumer Protection Commission (52% up from 44%), Financial Services and Pensions Ombudsman (50% up from 43%) and the Insolvency Service of Ireland (37% up from 34%).”
