Clients’ Willingness to Pay “Reasonable Fee” for BC Services
by Akhand Tiwari, Sachin Bansal and Vartika Shukla
May 13, 2011
1 min
This Note discusses whether end customers are willing to pay for financial services delivered by Business Correspondents, and if yes, how much are they willing to pay.
This Note discusses whether end customers are willing to pay for financial services delivered by Business Correspondents, and if yes, how much are they willing to pay. It concludes that the majority of customers are willing to pay a fee for a convenient banking facility close to their homes. The service, however, has to offer a range of products suiting to their needs. The note gives insight into factors and mechanisms that could guide the decision on the fee to be charged. It provides a backdrop for service providers to start with what can be termed as a ‘reasonable’ fee; and once again, clearly highlights the importance of listening to clients.
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