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CHEQUE CLEARING AND PERSON-TO-PERSON PAYMENT SERVICES AS PREDICTORS OF CUSTOMERS’ SATISFACTION IN COMMERCIAL BANKS

ABSTRACT

The study assessed cheque clearing and person-to-person payment services as predictors of customers’ satisfaction in commercial banks. Correlational research design was adopted for this study. The area of this study was South-South, Nigeria. The population of the study comprised all the customers of commercial banks in South-South geopolitical zone of Nigeria. A purposive sampling approach was used in the selection of 311,600, 000 active customers in the 26 commercial banks in South-South Nigeria, where 8 commercial banks were selected based on the bank Size, ownership Structure and presence in the South-South Zone. The sample size for the study comprised 400 reliable commercial banks acute customers. A researcher developed instrument tagged “Operational Banking Services and Customers Satisfaction Questionnaire (OBSCSQ)” was used in the collection of data for the study. The instrument went through face validation by three experts. To determine the reliability coefficient of the instrument, an internal consistency method was applied. Regression analysis was used in answering the research questions and in testing the hypotheses at 0.05 level of significance. The study showed that cheque clearing services and person-to-person paying services do not significantly predict customer’s satisfaction in commercial banks in South-South, Nigeria. One of the recommendations made was that banks should gradually reduce reliance on cheque clearing by promoting digital payment alternatives.

Keywords: Cheque clearing, Person-to-person payment services,customers’ satisfaction and commercial banks”

Samuel David UDO, PhD, Mfon Effiong UDOH, PhD, AND Iniabasi Ignitus ESSIEN

GASPRO INTERNATIONAL JOURNAL OF EMINENT SCHOLARS, VOL. 12 NO. 3