Summary

Statistique globale sur l'endettement et le déficit des pays de l'UE.

Table of Contents Introduction 1. Europeans' top financial priorities  8 1.1. Europe-wide figures  8 1.2. Analysis by priority 10 1.2.1 Paying the bills  12 1.2.2 Saving for retirement 12 1.2.3 Paying off debts  13 1.2.4 Buying a house / apartment 14 1.2.5 Passing on money to my children / grand-children  14 1.2.6 Protecting my family in case I am ill / unable to work  15 1.2.7 Having some savings for emergencies  16 1.2.8 Living as well as I can on my current income 16 1.2.9 Starting up a business  17 1.3. Europeans' views regarding their finances and financial services  8 2. Main types of financial products and services used by Europeans   21 2.1. A current account which comes with a payment card or a chequebook 21 2.2. A deposit account which pays interest but has no payment card or chequebook 22 2.3. A chequebook  23 2.4. A credit card   24 2.5. Another type of card 26 2.6. A life assurance policy   27 2.7. A private pension  29 2.8. Stocks / shares  30 2.9. Collective investments  31 2.10. Bonds  33 2.11. A mortgage  34 2.12. A second mortgage  35 2.13. A loan lasting more than 12 months to buy a car 37 2.14. A loan lasting more than 12 months to buy something else (other than a house or a car)  38 2.15. An overdraft facility on a current account  40 3. Use of telephone or computer (incl. Minitel) for financial transactions. 42 3.1. Telephone  42 3.1.1 Respondents' use of telephone to order a product or   42 3.1.2 Respondents' use of telephone to pay for something such as books, hotel or travel reservations, etc. 43 3.1.3 Respondents' use of telephone to make a bank transaction .  44 3.1.4 Respondents' use of telephone to make use of other financial transactions   45 3.1.5 Reasons why respondents never used the phone to pay for something such as books, hotel or travel reservations. 46 PUBLIC OPINION IN EUROPE: VIEWS ON FINANCIAL SERVICES - REPORT B EUROPEAN OPINION RESEARCH GROUP - 60.2 - WINTER 2003 4 3.2. Internet (incl. Minitel).  47 3.2.1 Respondents' use of the Internet (incl.Minitel) to order a product or service..  47 3.2.2 Respondents' use of the Internet (incl.Minitel) to pay for something such as books, hotel or travel reservations, etc.   48 3.2.3 Respondents' use of the Internet (incl.Minitel) to make a bank transaction..  49 3.2.4 Respondents' use of the Internet (incl.Minitel) to make use of other financial transactions   50 3.2.5 Reasons why respondents never used the Internet (incl.Minitel) to pay for something such as books, hotel or travel reservations  . 51 4. Cross-border trade in financial services and obstacles to trade . 53 4.1. Whether respondents have ever obtained in another EU country. 53 4.1.1 Bank account..  53 4.1.2 Credit card  54 4.1.3 A private pension plan  55 4.1.4 Car insurance   56 4.1.5 Life insurance   57 4.1.6 Mortgage   58 4.1.7 Stocks / shares   59 4.1.8 Collective investments  60 4.1.9 Other financial services   61 4.2. Whether respondents would consider obtaining from another EU country  62 4.2.1 Bank account 62 4.2.2 Credit card  63 4.2.3 A private pension plan  65 4.2.4 Car insurance  66 4.2.5 Life insurance  67 4.2.6 Mortgage  69 4.2.7 Stocks / shares  70 4.2.8 Collective investments  71 4.2.9 Other financial services  73 4.3. Obstacles to cross-border trade in financial services 74 5. Preferred means of payment  80 5.1. Respondents were asked which means of payment they prefer to use to pay for an important purchase (equivalent of EUR 100 in domestic currency) in their own country  80 5.2. Respondents were asked which means of payment they prefer to use to pay for an important purchase (equivalent of EUR 100 in domestic currency) in another member country of the EU  82 5.3. Why respondents prefer to use this means of payment in their own country .... 84 5.4. Why respondents prefer to use this means of payment in another member country of the EU 87 5.5. Use of electronic purse  90 5.5.1 Current use of electronic purse 90 5.5.2 Future intended use of electronic purse  91 PUBLIC OPINION IN EUROPE: VIEWS ON FINANCIAL SERVICES - REPORT B EUROPEAN OPINION RESEARCH GROUP - 60.2 - WINTER 2003 5 6. Consumer issues relating to financial institutions and financial services 93 6.1. Comparing information from banks about bank account features and charges.. 93 6.2. Winning a dispute with a bank  95 6.3. Knowing beforehand the cost of borrowing money  96 6.4. Understanding how mortgages work and the risk involved  98 6.5. Comparing information about different mortgages  101 6.6. Winning a dispute with an insurance company 102 6.7. Changing banks 104 6.8. Knowing in advance how good insurance cover is  105 6.9. Having a bank account is expensive 107 6.10. Buying on credit is more useful than dangerous 109 6.11. No real checks on borrowing 110 6.12. Indebtedness problem does not exist in the respondent's country  111 6.13. Marketing techniques of financial institutions are aggressive  112 6.14. Information from financial institutions is clear and understandable 114 6.15. Consumer rights are adequately protected in relation to financial services 115 6.16. There are easy ways to settle disputes with banks and insurance companies  117 6.17. Financial transactions are generally secure  118 6.18. Confidential information given to banks or insurance companies is adequately protected 119 6.19. Trust in telephone for banking transactions 121 6.20. Trust in Internet for banking transactions 122 6.21. Transactions on the Internet are generally secure 124 6.22. Harder to sort out problems that arise if transaction is by Internet 125 6.23. Consumers' expectation of financial institutions giving advice  127 6.24. Consumer makes own financial decisions 128 6.25. Trust in advice given by financial institutions  128 6.26. Harmonisation of consumer protection standards 130 ANNEXES  133