Many Customers Who Use Online Banking Facilities Are Reluctant to Change

Multiple Choice

Many customers who use online banking facilities are reluctant to change banks because of the effort it would take to change automatic and online payment settings. The process involved is cumbersome and requires time and effort to cancel old accounts and set up new ones. The costs associated with such liabilities that explain the customers' reluctance to change banks are referred to as _____.

A) overhead costs
B) variable costs
C) switching costs
D) fixed costs