The 2010 U.S. Retail Banking Satisfaction Study reveals that the size of your bank probably has a lot to do with how happy you are to do business with them.
J.D. Power took a look at banks and rated them by region, based on the input from nearly 48,000 respondents in their survey. Overwhelmingly, the results show people prefer small banks to giant monster mega-banks. In addition, poor customer service is the No. 1 reason that people fire banks.
Here are some quick highlights from the survey:
(Editor's note: Anyone notice a trend here with Bank of America's name popping up?)
If you are interested in the best service, banking is one field where the smaller the bank is, the better of you are likely to be. All over America, we have small local banks, regional banks and credit unions. Check them out. And if you have big money, you should definitely consider Schwab and Fidelity, the nation's two big discount brokers.
J.D. Power took a look at banks and rated them by region, based on the input from nearly 48,000 respondents in their survey. Overwhelmingly, the results show people prefer small banks to giant monster mega-banks. In addition, poor customer service is the No. 1 reason that people fire banks.
Here are some quick highlights from the survey:
- California: Bank of the West earns the highest possible rating from J.D. Power. The two lowest-ranked banks were Bank of America and Chase in a tie.
- Florida: The highest score went to BankAtlantic, followed by SunTrust Bank and Regions Bank -- all regional banks. The worst score went to Bank of America tied with Citi.
- Midwest region: Commerce Bank is tops. The lowest scores go to Bank of the West, TCF Bank, Charter One and Bank of America.
- New England region: The lowest scores go to Chase, Bank of America and Sovereign Bank.
- Southwest region: The lowest scores go to Bank of America and Key Bank.
(Editor's note: Anyone notice a trend here with Bank of America's name popping up?)
If you are interested in the best service, banking is one field where the smaller the bank is, the better of you are likely to be. All over America, we have small local banks, regional banks and credit unions. Check them out. And if you have big money, you should definitely consider Schwab and Fidelity, the nation's two big discount brokers.
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