The effect of reactance on satisfaction of banking consumers: a comparison between free choice checking accounts and mandatory checking accounts

Purpose The objective was to identify the moderating role of reactance on the satisfaction of banking consumers with different account types and its influence on service loyalty. We addressed an existing gap in the literature concerning the evaluation of the relationship between checking account types (free choice versus mandatory) and satisfaction, moderated by reactance, as well as the influence of account types on satisfaction (direct relationship). Design/methodology/approach The research was conducted through an online survey that collected data from 267 banking product consumers in Brazil. The data were analyzed using structural equation modeling with partial least squares estimation. Findings Account types affect consumer satisfaction in freely chosen accounts, as consumers with higher reactance tend to be more satisfied. Practical implications It is possible to develop a consumer profile classification indicator that can be adopted by bank managers for the development of products and services tailored to each profile. Originality/value The main theoretical contribution was the identification of the moderating effect of reactance on the satisfaction of banking consumers given different account types, partially altering the direct effect of account type on consumer-reported satisfaction.