The Banks with the Highest Customer Satisfaction

The Banks with the Highest Customer Satisfaction

July 27, 2015         Written By Justin Hefner

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A new report from Credio shows which banks have the highest customer satisfaction levels, based on a survey of over 3,000 customers. The survey assessed customer satisfaction for the top 10 banks in the country: TD Bank, Fifth Third Bank, Bank of America, U.S. Bank, BB&T, Citibank, Chase, PNC, USAA and Wells Fargo.

USAA recorded the highest level of customer satisfaction in the survey, with 93% of customers saying they would recommend the bank to a friend or family member. Both PNC and BB&T were tied for second place; 75% of their customers said they’d recommend the bank to others.

The survey showed that the top three factors in determining consumer satisfaction with their bank are online or mobile tools, customer support and branch and ATM availability.

Somewhat surprising was the fact that interest rates were considered the least important factor in determining customer satisfaction. Only 2% of survey participants said their satisfaction levels were influenced by their interest rates. In addition, account fees were not much of a concern, coming in at just 10%.

Customers between the ages of 18 and 29 showed a strong desire for online and mobile tools, and this group valued advice from friends and family members more so than any other age group.

Consumers 60 years of age or older showed the strongest desire for good customer support, with 37% reporting this as a significant factor. By comparison, only 22% of the youngest consumers felt the same way.

Other findings from the report:

* Regional banks tend to have more satisfied customers than national banks.

* Customers between the ages of 30 and 44 are more likely than any other age group to switch banks within the next year.

The information contained within this article was accurate as of July 27, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Justin Hefner

Justin Hefner is in the education field and has written about a number of financial issues. He holds a Bachelor of Arts degree from Texas Tech University and a Masters in Education from Texas State University.
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