Others will not switch if their bank has a bad day in the witness box but not for reasons of loyalty.

Wagga retired teacher Les Fryer said he did not see the point of switching banks over bad behavior by financial planners and overcharging.

“No, I wouldn’t switch,” he said.

“One bank is as bad as the other. They are all tarred with the same brush.”

AMP saw its chairman Catherine Brenner step down last week after revelations that it mislead Australia’s corporate regulator at least 20 times.

The Financial Services Royal Commission also heard that AMP had been charging its customers fees for services that were never delivered and Commonwealth Bank admitted to charging customers for financial advice after they had died.

Wagga retiree Elaine Hanratty said she was happy with her bank, which was one of Australia’s ‘Big Four’ financial institutions, but would consider switching if the commission found against her bank.

“It would depend how my money was invested and whether it was in shares or not,” she said.

Ms Hanratty said she might consider switching to a community bank if they had sufficient programs to benefit community organisations.

Hume Bank chief customer officer and acting chief executive Andrew de Graff said there had been more interest from potential customers after the commission started.

“There has been an interest not just in Hume but in the broader mutual banks as well,” he said.

“We’re very conscious that we don’t want to bad-mouth other financial institutions because we understand that everyone has challenges.

“That said, we are reinforcing how, because we don’t have shareholders and we are owned by our members, and have different priorities when looking after our customers and remain connected to our community.”

The commission has damaged the reputations of some of Australia’s most high-profile financial advisers, but Wagga residents seemed to be keeping faith in the people managing their money.

Mr Fryer said he used a financial adviser through his superannuation.

“I’m happy with their services so far,” he said.