Page 34 - Consumers and Mobile Financial Services 2014

26 Consumers and Mobile Financial Services 2014

3. Please choose the most important reason why you don’t have a checking, sav-
ings, or money market account from the following list:
a. I wouldn’t use an account enough to make it worthwhile
b. I can’t open an account due to ID, credit, or banking history problems

c. I don’t like dealing with or don’t trust banks
d. The account fees and service charges are too high or unpredictable
e. Banks do not have convenient hours or locations
f. Banks don’t offer the products or services I need
g. I cannot manage or balance an account

h. I don’t have enough money to keep in an account or meet a minimum
balance
i. I don’t need or want an account

j. Other (Please specify):[txt]________________________________

[SP]

4. A payday loan (also called a paycheck advance or deposit advance) is a small,
short-term loan that is intended to cover your expenses until your next payday.
Firms that offer these loans generally charge fees (for example, $15 or more)
for every $100 borrowed. Have you used a payday loan, paycheck advance, or
deposit advance service in the past 12 months?
a. Yes
b. No

[NUMBER BOX, RANGE: 0-999, IF Q4= A]

5. How many times in the last 12 months did you use payday loan, paycheck
advance, or deposit advance services? In answering this question, please count
it as a separate loan when you use a new loan to pay off an old loan.
_____ time(s) in the past 12 months

[IF Q4= A]
[GRID; SP ACROSS]

[SHOW THIS TEXT INSTEAD OF DEFAULT INSTRUCTIONS: Please
answer yes or no to each option]

PROGRAMMING NOTE: CODE “Yes” AS 1, “No” AS 0, AND REFUSED
AS -1.