Kimi K3.1 Pro: Why Pennywell customers don't use savings pots

Scorecard

The analysis

This model produced no usable analysis for this task.

The survey it planned

2 screening questions and 10 questions, as the model wrote them.

1. S1

   Do you currently have a Pennywell current account?

   One answer
   • Yes
   • No

   Continues if Yes

2. S2

   Which age band are you in?

   One answer
   • Under 18
   • 18-34
   • 35-54
   • 55-74
   • 75 or over

   Continues if 18-34; 35-54; 55-74; 75 or over

3. Q1

   Before starting this survey, did you know that Pennywell offers savings pots?

   One answer
   • Yes
   • No
   • Not sure
4. Q2

   You said you knew about Pennywell savings pots before this survey. In your own words, what is the main reason you have not opened one? If there was no particular reason, type 'No particular reason'.

   Open text

   Routing Shown only if Q1 is: Yes

5. Q3

   Which, if any, of the following have been reasons you have not opened a savings pot? Include your main reason if it is listed. Select all that apply.

   Any that apply
   • I had not got round to opening one
   • I could not find where to open one in the app
   • I did not know how to open one
   • Opening one seemed like too much effort
   • I did not understand how savings pots worked
   • I did not think the interest rate was high enough
   • I did not have money available to put into one
   • I preferred to keep my savings with another provider
   • I did not see a benefit in having a separate savings pot
   • I was unsure whether my money would be safe
   • I thought I would not be able to access my money easily
   • Another reason
   • None of these

   Routing Shown only if Q1 is: Yes

6. Q4

   Savings pots are instant-access savings accounts inside the Pennywell app. They currently pay 3.1% AER (annual equivalent rate). You can add or withdraw money at any time. Based on this information, how likely would you be to open a savings pot in the next month?

   Scale

   Scale 1-11: 0 - Not at all likely to 10 - Extremely likely

7. Q5

   Imagine that savings pots paid 3.85% AER instead of 3.1% AER, with no other changes. How likely would you be to open a savings pot in the next month?

   Scale

   Scale 1-11: 0 - Not at all likely to 10 - Extremely likely

8. Q6

   Imagine that the rate stayed at 3.1% AER, but Pennywell showed you an in-app message explaining savings pots and where to find them, offered step-by-step set-up help, and gave you a set-up reminder on payday. How likely would you be to open a savings pot in the next month?

   Scale

   Scale 1-11: 0 - Not at all likely to 10 - Extremely likely

9. Q7

   Imagine that savings pots paid 3.85% AER and Pennywell provided the in-app message, step-by-step set-up help and payday reminder just described. How likely would you be to open a savings pot in the next month?

   Scale

   Scale 1-11: 0 - Not at all likely to 10 - Extremely likely

10. Q8

    Roughly how much money, if any, do you currently hold in savings outside Pennywell? Include easy-access and fixed-term savings accounts, cash ISAs and NS&I savings. Exclude current-account balances, investments and pensions. Enter an amount in whole pounds, or 0 if none. You may leave this blank if you do not know or prefer not to say.

    Number
11. Q9

    Roughly how much of that amount could you withdraw immediately without giving notice or paying a penalty? Enter an amount in whole pounds, or 0 if none. If you have no savings outside Pennywell, enter 0. You may leave this blank if you do not know or prefer not to say.

    Number
12. Q10

    Roughly how much of your savings outside Pennywell, if any, would you realistically consider moving into a Pennywell savings pot in the next three months if the rate were 3.85% AER and Pennywell provided the in-app message, set-up help and payday reminder described earlier? Enter an amount in whole pounds, or 0 if none. If you have no savings outside Pennywell, enter 0. You may leave this blank if you do not know or prefer not to say.

    Number