Customers grew to love — or hate — many businesses during the COVID-19 pandemic depending on how companies were able to handle changing needs. But how people feel about their banks has held steady according to a new report. And technology appears to be part of the reason.
The Finance Study 2020-2021 from the American Consumer Satisfaction Index (ACSI) shows that banks scored a 78 (out of 100) from customers for the second consecutive year.
How Does Your Bank Stack Up?
David VanAmburg, managing director at the ACSI, says in a news release that part of the banks' continued success is because they've been able to use technology to their advantage.
“Banks, in particular, are better positioned than most because of the industry’s years of commitment to — and investment in — digital offerings,” David was quoted as saying.
The study is based on responses from 15,120 customers contacted between October 5, 2020, and September 30, 2021.
Here are a few key findings from the report:
- Among national banks, Chase and Citibank tied for #1 with the same scores (77) they had last year.
- Capital One came out on top among "super-regional banks" with a score of 78.
- Regional and community banks dropped 1.2%, but posted the highest score compared to national and super-regional banks.
Let’s take a look at the top national banks first, and then we’ll move on to the super-regional banks.
Best National Banks According to Customers
Best Super-Regional Banks According to Customers
Money expert Clark Howard is not a fan of the big banks. His advice is to put your money somewhere that won't, in his words, "'fee' you to death."
Looking for some options? Read our guide to the best online banks.
More Banking Resources From Clark.com:
- How To Open a Bank Account in 6 Easy Steps
- How To Switch Banks in 4 Simple Steps
- Best Free Checking Accounts