A survey of almost 5,000 mobile banking users found those whomoved accounts from one bank to another in the last year did sobecause of higher fees or poor service.

SNL Financial, the Charlottesville, Virginia, financial servicedata and consultancy firm surveyed the nearly 5,000 mobile bankingusers in February 2015 and found that 10% of them reported havingmoved their accounts from one financial service firm to another inthe past year.

When asked why they had done so, 34% of the account-switchingconsumers cited high fees at the previous institution as the reasonand 28% cited poor customer service. Having moved (27%), a bettermobile experience (26%) and incentive offers to switch (25%)rounded out the top five reasons to change.

When income was included as a factor in the data, SNL found 13%of those making more than $75,000 per year switched their financialinstitution while only 10% of those making less than $75,000 didso. The survey also found 35% of account changers were under age 35with 19% of them between the ages of 18 and 25.

The survey did not reveal how many respondents reported leavingor joining a credit union, however about 5% of respondents used awrite-in box to share reasons, which the rest of the survey did notcover, and credit unions were mentioned there.

One respondent wrote: “Decided to switch to a credit union toavoid making bankers rich,” while another wrote, “Credit unionupdated system and constantly has issues where I can't access mymoney.”

Other factors included: Bank closed, bank is moving, betterhours, getting divorced, getting married and landlord banks atWells Fargo.