Document Type

Research Paper


The paper aims to determine what factors influence students’ choice of bank. Exploratory sample data (N= 100) was taken from students at John & Wales University, Brown University, and the University of Rhode Island (All Southern New England). The instrument was comprised of fourteen questions, ten being derived from the related literature: service provision, the proximity of ATM, branch location, card design, students benefit, service charge, financial products, recommendation, security, and online service. A total of 100 questionnaires were distributed using convenience sampling; 94 were returned, and among them 89 were deemed valid, yielding a response rate of 89%. This rate was considered sufficient for exploratory survey research, using the self-administered questionnaire approach. Responses were measured using the five-point Likert type scale on importance, which ranged from 1 (“not at all important”) to 5 (“very important”). A rank order of the top three factors are: first, “Secure Feelings” (M = 4.70; SD = 0.412); the second, “Proximity of Branch and ATM Service” (M = 4.67; SD = 0.452); and third “Banks Reputation” (M =4.34; SD = 0.516). Gender differences were not statistically significant, except for proximity of branch and ATM service where females rated higher in importance than males (p < .05).

Citation/Publisher Attribution

Tai, W., Zhu, J. (2013). Factors influencing students’ selection of a bank. Johnson & Wales University, Providence, RI.



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