New Report: Best Banks for Customer Satisfaction

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

Banks2021 Score% Change From Last Year
Bank of America761%
Wells Fargo74-1%

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Best Super-Regional Banks According to Customers

Banks2021 Score% Change From Last Year
Capital One781%
PNC Bank760%
TD Bank760%
Regions Bank76-1%
US Bank750%
Citizens Bank74-1%
Fifth Third Bank741%

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Read the full Finance Study 2020-2021 from ACSI.

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."

“Many big banks seem to pride themselves on what I call ‘customer no service.’ It’s not a question of if — but when — you’ll get ripped off by your big bank,” Clark says.

Looking for some options? Read our guide to the best online banks.

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